OSM Becomes The First Greek Shipowner To Ink A Decarbonization Deal

OSM, Olympic Shipping and Management SA will partner with GCMD, Global Centre for Maritime Decarbonisation in the next five years to enhance decarbonization in various shipping projects worldwide.

This is the first time a greek ship owner like OSM is partnering with GCMD on their maritime decarbonization project. The company has a fleet of 18 crude oil tankers. OSM will help with data access, technical expertise and cash contributions, supporting the green fuels and carbon capture trials of GCMD.

This deal is significant as Greece is a crucial shipowning nation based on tonnage. They have 4870 ships with a tonnage of 385 million DWT, which accounts for 17.6% of worldwide shipping. It owns 59% of the fleet in the EU.

OSM decarbonization — *Image for representation purposes only*

They also hold the highest rank in the tanker market, with a fleet worth USD 56.2 billion. Their LNG fleet is the second highest in the world, with a worth of USD 29.1 billion. They dominate the LPG, LNG, tanker and bulker.

All of this makes it essential to be a part of the decarbonization strategy.

References: Port News, Manifold Times