George Economou Addresses Webb 2025 Commencement

Webb Institute celebrated its 2025 Commencement Ceremony on Saturday, June 21, welcoming George Economou, founder of DryShips Inc., the TMS Group, and the owner of Cardiff Marine, as the keynote speaker. The event, held on Webb’s waterfront campus, marked a powerful moment for the graduating class and reaffirmed Webb’s place at the forefront of the resurgent U.S. maritime industry.

“It is good to feel like being home despite not having studied here,” said Economou. Drawing from his own journey, with difficulty starting his career in the US as a foreigner, he offered a global perspective on opportunity and responsibility. “I want you to know how blessed you are to be here today, graduating from an American institution and living in this country.”

“Fall in love with the choices you will make. Don’t think about having, but about becoming."

His speech integrated lessons from business, philosophy, and global challenges, ranging from climate change and artificial intelligence to the internal choices that shape a life. He honored not just academic achievement, but the courage to build a life of integrity and impact.

Webb Institute President Mark Martecchini reflected on the significance of Economou’s message. “George Economou’s story—from Greece to MIT to global maritime leadership—is a testament to what’s possible when passion meets perseverance. His visit reminds us that Webb’s core values of Excellence, Community, and Opportunity are not just ideals; they are living truths our graduates carry into the world.”

Turning to the future, Economou urged graduates to avoid chasing money and security for their own sake, instead advocating for passion, purpose, and perseverance.

“Along with yourself, make others smile. Humor is an essential quality to navigate through human experience. Pursue your choices and goals with vigor, with love, with hard work. Find a cool job, and money will be the reward.”

MAN Energy Solutions becomes Everllence

The former MAN Energy Solutions is now operating under a new name: Everllence. CEO Uwe Lauber unveiled the new company nameplate at its headquarters in Augsburg, Germany last month, with simultaneous, similar ceremonies held the company's other main European locations in Oberhausen, Berlin, Zurich and Copenhagen.

“Our name change is the logical next-step in the execution of our ‘Moving big things to zero’ strategy, which focuses on decarbonization and efficiency solutions, especially for those sectors of the global economy that have to deal with ‘hard-to-abate’, climate-damaging emissions,” said Lauber. “Today, we are no longer known in the market for just engines and turbomachinery, but also as a supplier of large heat pumps, carbon capture and storage, as a driver of climate-neutral shipping, and as part of the hydrogen ramp-up. This is what we want to express with our new name, Everllence.”

Everllence remains part of the Volkswagen Group, and the company’s product and service portfolio also remains unchanged.

According to the company, ‘Everllence’ is a combination that merges the two English-language terms ‘ever’ and ‘excellence’, two central attributes of the company's self-image.

KR, SHI to Develop Trio-Tank 174K LNG Carrier

Korean Register (KR) signed a memorandum of understanding (MOU) with Samsung Heavy Industries (SHI) last month to jointly develop a 174,000-cu. m. LNG carrier featuring three cargo tanks.

Despite the ongoing trend toward larger vessels across all ship types, the 174K LNG carrier remains the standard design in the global LNG shipbuilding market, with dozens of orders placed annually. To further enhance the technical competitiveness of this vessel size, KR and SHI plan to introduce a revised cargo tank configuration—reducing the number of tanks from four to three, effectively lightening the hull, improving fuel efficiency and decreasing natural boil-off and vaporization of LNG, ultimately reducing operating costs. Fewer tanks also mean fewer onboard pumping systems, which simplifies maintenance and reduces long-term operational expenses. On the flip side, larger individual tank sizes can lead to more pronounced liquid movement (aka. ‘sloshing’) within the tank. This motion can exert repeated pressure loads on the tank walls and internal structures, potentially affecting the vessel’s structural integrity.

Mitsubishi Shipbuilding, Elomatic Sign Collaboration Agreement

Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, has initiated discussions on business collaborations with Elomatic Oy, a Finnish engineering and consulting firm, in the maritime engineering field. The Company will continue to build strategic partnerships globally to incorporate external expertise through partnering efforts and deliver its technologies, products and services to a wider range of customers.

A signing ceremony for the Framework Agreement was held on June 4 at Nor-Shipping 2025.

Through this collaboration with Elomatic, one of the world's leading maritime technology consulting firms known for its strengths in digital tools and simulation technologies, the two companies will mutually leverage their decarbonization and digital technologies to expand and enhance maritime engineering services in the global market, particularly in Japan and Europe.