Panagiotis Spathis – GC Powerlist
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Greece and Cyprus 2025

Transport and infrastructure

Panagiotis Spathis

Legal and claims manager | Diana Shipping Services S.A.

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Greece and Cyprus 2025

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Panagiotis Spathis

Legal and claims manager | Diana Shipping Services S.A.

Team size: 2

What are the key projects that you have been involved in over the past 12 months?

Last year, my team and I assisted the Owners in becoming a strategic partner and investing in a newly established joint venture, Ecogas Holding AS, acquiring an 80% equity interest in a transaction relating to the construction of two 7,500 cbm semi-refrigerated LPG newbuildings, with an option for two additional vessels.

In addition, the team assisted in reviewing legal documentation concerning the revision of the joint venture agreement pertaining to the Windward Offshore project, in light of the succession of Messrs. Marubeni in the venture.

Finally, the team was engaged in the legal work related to the disposal of the Owners’ older assets. This included negotiating, concluding and executing Memoranda of Agreement outlining the terms of the deal, engaging external counsel who acted as escrow agents, drafting appropriate legal documentation on behalf of the Owners, and reviewing the counterpart’s legal documentation.

What do you think are the most important attributes for a modern in-house counsel to possess?

Apart from the obvious requirement of understanding maritime conventions and maritime law, in-house counsel must confidently manage charterparty and bills of lading disputes, as well as handle claims related to cargo, pollution, crew, and hull and machinery. They should also be experienced in marine insurance procedures and possess a solid understanding of Protection and Indemnity (P&I) rules and processes.

A strong grasp of IMO regulations, EU directives, and flag state legal requirements is essential. Counsel must also demonstrate sound knowledge of sanctions regimes, anti-bribery and anti-corruption laws, and environmental compliance, all in support of maritime operations, vessel management, and commercial strategy aligned with the company’s vision, values, and goals.

In-house counsel should be familiar with M&A activities, remain composed and effective during incident response, and be well-versed in litigation, arbitration, and alternative dispute resolution mechanisms. Effective management of relationships with external counsel, insurers, and P&I Clubs is crucial. Accuracy in handling claims is imperative, along with the ability to provide clear and detailed communication to both internal and external stakeholders.

Finally, counsel must foster corporate integrity and uphold high ethical standards, support ESG initiatives and sustainability objectives, lead contract negotiations aligned with the company’s strategic aims, embrace process automation, and contribute to data-driven legal decision-making.

Based on your experiences in the past year, are there any trends in the legal or business world that you are keeping an eye on, of which you think other in-house lawyers should be mindful?

One of the current “hot” topics in the legal and business world is the use of Artificial Intelligence (AI) in day-to-day work. AI is widely seen as a force for positive change in the modus operandi of legal counsel, particularly by increasing the speed and efficiency with which legal tasks — such as contract review — are completed.

AI also supports counsel in researching and comparing laws, regulations, and case law by offering concise summaries of key points. This enables counsel to extract the most relevant and up-to-date information for a claim or business transaction. In doing so, counsel can help ensure the organisation remains compliant with applicable laws and regulations, while also sourcing case law and data that may prove valuable in upcoming trials or arbitration proceedings.

Additionally, AI can save time by generating automated summaries of online meetings and assisting counsel in managing an up-to-date calendar, complete with reminders for deadlines and priorities.

While AI will not replace legal counsel or the critical thinking required of the profession, it should be viewed as a valuable tool in counsel’s arsenal — one that reduces bureaucratic and administrative burden, delivers data-driven insights, and allows greater focus on strategic issues. Nevertheless, both counsel and business must remain vigilant regarding the ethical and legal implications that may arise from AI’s use.

Panagiotis Spathis - Greece and Cyprus 2024

Legal and claims manager | Diana Shipping Services

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