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Greek Debt Crisis: Shipping Heir Tries Charitable Approach

'Greece Dept Free' Peter Nomikos has time and money to follow his passions. Based in London, he dabbles in investing, sponsors art museums and runs a winery and beer brand on his home island of Santorini.Shipping heir Peter Nomikos wants his fellow Greeks to donate money to help wipe out the country's debt.Last month, the Princeton University graduate launched a nonprofit that will use donations to buy Greek government debt on the cheap. The charity, called Greece Debt Free, proposes to then forgive the debt, helping to wipe clean the nation's slate."I want to help my country," he says. "Crisis is the strongest national call to action, and therefore is the most powerful, unifying mechanism for change."It is a herculean-some would say Sisyphean-task.Greece had 280 billion ($351 billion) in debt as of March 31. But much of that debt is trading between 10 and 20 cents on the euro. With an estimated 16 million people who identify as Greek around the world, Mr. Nomikos figures it would take about "a grand a Greek"-or 1,000 per head-to materially reduce the nation's debtload.His take so far: 273,000, a mere rounding error in terms of the total debt-and most of that amount came ...

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Restis awarded ISO energy management certificate

EST acquired ISO 50001:2011 and EBEN Gold Bee Enterprises Shipping and Trading S.A. hosted a reception at the Athens Golf Club on the 5th June 2012 in light of the Posidonia Exhibition, to celebrate two major achievements: ISO 50001:2011 and EBEN Gold Bee.The ISO 50001 Certificate was handed over to Mr. Victor Restis by Mr. B. Anne, VP of Bureau Veritas, congratulating him for the accomplishment of such a demanding task. This certificate verifies EST's commitment to continuously improve its energy efficiency, while it is the 1st awarded by BV in Greece.In his speech, Mr. Restis thanked all the employees both ashore and onboard the 91 ships managed by Enterprises for their contribution and loyalty. None of this would be possible, he said, without the support of our people stationed all over the world and their families.ISO 50001 is a voluntary international standard requiring an energy management system, an action plan to measure and manage the energy usages, a baseline to set targets, programs and practical measures to ensureenergy conservation.In addition to the above, EST is the first company to obtain the "Gold Bee-State of Honesty Award" in six criteria. The European Business Ethics Network Greece (EBEN GR) presented EST ...

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UGS Chairman Confirms Confidence in Greek Shipping

During Posidonia 2012 The policies and strategy of Greek shipping will not be impacted by the outcome of the upcoming elections and, in spite of the challenges facing the country, the sector's prospects are secure and commitment to Greece a given, said Theodore Veniamis, Chairman of the Union of Greek Shipowners, during the traditional UGS press conference of Posidonia, the world's biggest shipping event held biennially in Greece."We want a competitive Greek shipping industry underpinned by a strong Greek flag which promotes the country's interests. We want to have more Greek seafarers in our fleets and this has been one of the perennial issues which have been facing Greek shipowners since 1932," said Veniamis."Why are we not in the position to allow private initiatives to develop educational shipping institutions in order to increase the number of students and seafarers for the Greek ships in a country which is famous the world over for its seamanship and long maritime tradition?", he wondered."Today we are here at Posidonia where more than 1,800 companies from 87 countries have come because they respect Greece's leadership in the shipping industry. Heads of state, ministers, decision-makers of major corporations are here because of our long marine ...

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Union of Greek Shipowners Press Conference at Posidonia 2012

At the press conference in the venue of the Posidonia International Exhibition, on Friday 8th June, the UGS President, Mr. T. Veniamis, stated the following:Greek shipping endures and makes progress. Despite the deep financial crisis of the entire planet and especially Greece, Greek shipping remains at the top of the international league, closely connected with its national basis, with a fleet of 3,325 vessels, a total tonnage of 227 million dwt and average age of 10,5 years."You may know," Mr. Veniamis stated, "that my compatriot shipowners on my island, Chios, used to say that the sea gets sick but never dies. We fully share this belief and we try to follow their task. Of course, the overall environment has changed. The circumstances at sea are completely different today, compared to past years. Sometimes they may be better but in many cases, they are adverse and complicated, demanding faith, strength and hard effort. Globalization and its side-effects, the galloping development of marine technology, the exaggerated and not always disinterested measures at central and regional level, disturbing the smooth operation of vessels, the financial and lending illiquidity, the effects of the economic crisis on the freight market but also the scourge of ...

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