Team size: Five

Which recent political, economic, or regulatory changes have impacted the company and the team the most?

The Covid-19 pandemic has caused severe disruptions to the shipping companies’ activities; travel restrictions, closure of factories, labour shortages and delays have negatively affected the industry. Everchanging legislation has required our legal team’s focus for the past two years and the monitoring of contracts.

The global economy has been facing numerous challenges, which have impacted the marine transportation industry. The recent tragic invasion of Ukraine has already affected and will continue to affect the shipping industry worldwide, especially given the sanctions regime adopted by the US, EU, and the UK. The consequences of the war are already visible in the Black Sea region – a key transit point for dry bulk exports. Seanergy’s priority is to make sure that its crew – partly made up of Russians and Ukrainians – is safe and being supported, as it is impossible to repatriate them given flight restrictions and closure of the borders. We are continuously monitoring the developments and seeking advice from our insurers to ensure we stay abreast of developments in this rapidly changing environment.

In what ways do you see the in-house legal role evolving in your region over the next few years?

In-house legal counsel will undoubtedly take an active role in supporting sustainability initiatives. Shipping companies are expected to emphasise ESG and CSR as investors and stakeholders focus on these issues. Seanergy has proactively prioritised its ESG agenda since 2016. It has assumed a crucial role in participating in developing, implementing, and strengthening sustainability programmes.

As we advance, cybersecurity will draw our attention. From 2021 ship owners and managers must incorporate cyber risk into their safety management systems. Cybersecurity regulations for the maritime industry are expected to be further developed.

How has the increasing consciousness of climate change and sustainability affected the company and the team’s priorities?

Together with the International Maritime Organization, several countries have adopted regulations to reduce greenhouse gas emissions. These measures include cap regimes, carbon taxes or increased efficiency standards. Seanergy has proactively adopted environmental practices such as scrubber installations on board some of its vessels, upgraded energy saving devices, electronic performance monitoring system installations and the use of biofuels. ESG factors play an ever-increasing role in managing public companies. Seanergy is successfully navigating the ESG landscape and will continue to ensure regulatory compliance, monitor corporate governance, and engage with all stakeholders.