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Eastern Mediterranean Shipping Charts Uneven Course To Decarbonization

Survey Reveals Incremental Progress and Challenges

A recent survey conducted by the Hellenic Marine Environment Protection Association (HELMEPA), in collaboration with the Lloyd’s Register Foundation, highlights the Eastern Mediterranean shipping industry’s evolving commitment to reducing greenhouse gas emissions. The METAVASEA survey, which gathered 898 responses from shipping companies, seafarers, ports, suppliers, and civil society between June and November 2024, offers a nuanced view of an industry at the crossroads of tradition and transformation.

Emissions Focus and Alternative Fuels

The survey indicates that 74 percent of shipping companies have either aligned or are planning to align with the International Maritime Organization’s net-zero targets. However, emphasis remains predominantly on direct emissions, with 73 percent of respondents focusing on them, while lesser attention is given to indirect (Scope 2) and supply-chain (Scope 3) emissions, at 9 percent and 4 percent respectively. Biofuels lead as the most adopted alternative, cited by 62 percent of respondents, followed by green hydrogen (25 percent) and ammonia (19 percent).

Operational Concerns and Technological Adoption

Despite these efforts, nearly half (42 percent) of participants flagged infrastructure and compatibility issues, particularly as new technologies such as onboard carbon capture, wind and solar power, and air lubrication remain fraught with concerns over cost, vessel readiness, and safety. For seafarers, crew fatigue tops the list of safety concerns at 70 percent, even as a notable training deficit persists, with 64 percent reporting a lack of decarbonisation-related training in the past two years.

Workforce Development and Strategic Gaps

The findings reveal a dual need for technical expertise—including emissions monitoring, energy management, and handling of new fuels—alongside essential soft skills such as leadership and strategic thinking. Larger fleets demonstrate greater progress in emissions tracking and ESG strategy adoption, whereas smaller operators cite limited resources as a significant barrier.

Ports, Infrastructure, and Misaligned Public Perceptions

Ports and suppliers face their own set of challenges. Only 20 percent of ports currently offer VLSFO bunkering, even as the Mediterranean prepares for its designation as a SOx Emission Control Area in May 2025. With 40 percent of ports lacking decarbonisation interventions and 60 percent missing emissions monitoring systems, infrastructure gaps remain a significant hurdle. Meanwhile, public perceptions are at odds with reality—many erroneously estimate that shipping accounts for 50–70 percent of global greenhouse gas emissions, compared to an actual figure closer to 3 percent.

A Roadmap For Sustained Green Transition

The METAVASEA project, running from 2023 until 2027, aims to map the skills and infrastructure necessary for a successful green transition in this strategically vital region. With a network that includes six core partners, twelve associates, and over sixty stakeholders, the project intends to track ongoing trends and training needs, providing a critical framework for future progress in decarbonization.

Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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