Health, safety, quality and environment, and sustainability manager at Limassol-based Island Oil Holdings Demetris Lemesianos recently spoke to the Cyprus Mail, providing insights into the group’s sustainability initiatives within the marine fuels market.
Lemesianos, touched on essential areas such as the International Sustainability and Carbon Certification, trading software, and strategic partnerships, showcasing the company’s firm dedication to environmental responsibility.
Further exploration touched upon Island Oil Holdings’ undertakings in engaging employees and customers, technological advancements, and corporate social responsibility, painting a picture of a holistic approach to sustainable practices.
Following the successful acquisition of the International Sustainability and Carbon Certification (ISCC EU) as recognised biofuel traders, Island Oil Limited and Island Petroleum Limited, subsidiaries of the Island Oil (Holdings) group, have solidified their position in the marine fuels market.
Island Oil Limited, specialising in marine fuels trading arm, and Island Petroleum Limited, focusing on physical marine fuel supply, both received certification, affirming their dedication to sustainability standards.
Chrysostomos Papavassiliou, the founder and CEO, emphasised that the ISCC certification mirrors the group’s dedication to sustainable and responsible practices within the marine fuel supply chain. Moreover, he further highlighted their proactive stance towards environmental responsibility.
Established in 1992 and headquartered in Limassol, Cyprus, Island Oil (Holdings) extends its operations to physical supply stations in Cyprus, Romania, and Israel and maintains offices in Limassol, Piraeus, Singapore, Hong Kong, London, Constanta, and Haifa.
Island Oil (Holdings) Ltd is committed to continuous learning and professional development, implementing diverse training programmes to keep its workforce informed about the evolving maritime industry, with a specific focus on sustainability.
Moreover, key team members actively engage in seminars and conferences, addressing crucial issues like the EU Emissions Trading System (ETS) and eco-friendly fuel solutions, such as hydrogen, ammonia, and biofuels.
Furthermore, Lemesianos emphasises the group’s commitment to a culture of lifelong learning, saying that, “our group can only grow when our staff is empowered to grow.”
Additionally, the Human Resources department plays a vital role in onboarding, covering job-specific tasks and instilling a deep understanding of the company’s culture.
In annual appraisals, there is a platform for discussing professional goals and identifying growth areas.
Lemesianos said that “encouraging employees to take advantage of professional development initiatives leads to an increase in factors such as employee engagement and retention,” reinforcing the group’s dedication to continuous employee development.
The group’s investment in professional development includes providing time and tuition reimbursement for conferences, seminars, and training. To highlight the dedication to supporting staff’s holistic growth, designated study leave days per year are offered. This approach ensures that employees view training as an integral part of their personal and professional development.
Transitioning from the focus on employees to customer engagement, Island Oil (Holdings) Ltd maintains transparency and fosters an informed customer base as a top priority.
The group implements a comprehensive customer education programme utilising various communication channels such as newsletters, emails, and dedicated support channels.
This initiative aims to keep customers updated on the certification process, its requirements, and the broader environmental benefits of choosing biofuels from a certified and environmentally responsible company.
Lemesianos says that “a well-informed customer base is important in driving the adoption of sustainable practices within the marine bunker fuel industry.”
The commitment to customer education extends to providing dedicated support channels based on the close relations the company has fostered over the years.
While concentrating on certification specifics, the group has launched initiatives to raise awareness among customers about the broader environmental benefits.
Actively promoting its environmentally responsible practices and certifications, including the ISCC EU certification, the group utilises various channels to convey its commitment to sustainability.
Lemesianos emphasises the group’s dedication to promoting sustainable solutions, stating that “through our ISCC EU certification, customers will be provided with a Proof of Sustainability that can be utilised for compliance with various IMO and EU Regulations.”
By prominently displaying these certifications in our marketing materials and communication channels, we aim to create awareness and instil confidence in customers about the potential benefits of biofuels.
To further drive awareness, the group shares real-world success stories and case studies, illustrating the substantial environmental benefits of biofuels.
These stories serve as compelling evidence of the positive impact customers can have by choosing biofuels supplied by a certified group.
The group has also taken a step in the marine fuels trading sector by developing its cutting-edge trading software.
This proprietary solution eliminates using paper, digitising the entire trading process. Lemesianos said, “Our trading software not only enhances operational efficiency but significantly reduces our environmental footprint by minimising paper usage.”
The software incorporates automated compliance management modules, ensuring that all transactions remain to the highest standards and regulatory requirements.
Leveraging advanced data analytics, it provides valuable insights into market trends, consumption patterns, and operational efficiencies, enabling the optimisation of the supply chain and contributing to economic and environmental sustainability.
In addition to its in-house innovations, the group has established a strategic partnership with InoMob Ltd, an accredited cleantech company based in Cyprus. InoMob operates a proprietary Renewable Natural Gas (RNG) Production Unit to produce compressed BioMethane (bioCNG), a certified advanced biofuel under
ISCC-EU. Lemesianos said, “This partnership provides a simple and accessible solution for businesses seeking cleaner energy alternatives.”
Moreover, in 2022, Island Oil (Holdings) Ltd proactively embraced technological advancements by undergoing a comprehensive restructuring of its Management System, emphasising procedural streamlining, and successfully transitioning to electronic platforms, thereby positioning itself at the forefront of innovation.
The group allocates resources to ongoing research and development efforts, staying abreast of the latest advancements in technology.
Investments in R&D and participation in various local and EU-funded research projects enable the group to explore innovative solutions aligned with sustainability goals.
Notably, the group plans to complete its bioCNG floating power plant in 2024, a first-of-its-kind initiative in the Mediterranean Sea for cold ironing by ships calling Limassol port.
Furthermore, by fostering a culture of collaboration between technology and operational teams, the group ensures tailored solutions for specific challenges and environmental objectives.
Actively seeking partnerships with technology providers, startups, and industry leaders facilitates the adoption of state-of-the-art solutions, enhancing operational efficiency and sustainability.
Consequently, as the group deeply prioritises Corporate Social Responsibility (CSR), it has established a dedicated Donations and Sponsorships Committee to oversee initiatives aligned with its CSR and Environmental, Social, and Governance (ESG) Policy. This year’s planned initiatives include a tree-planting campaign, participation in a recycling programme for used cooking oil from vessels, and investment in parks and green spaces to enhance local communities’ overall quality of life.
The ESG strategy points out continuous innovation in sustainable practices, comprehensive reporting, and accountability for product life cycles.
The group aims to build enduring partnerships, implement community projects, and support initiatives in line with its commitment to social responsibility.
By incorporating these principles into its long-term strategy, Island Oil Holdings is prepared to navigate the evolving expectations of consumers and the industry.
It views social responsibility as an integral part of its identity, guiding actions and decisions to create a sustainable future for the marine fuels industry.
