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The Republic of the Marshall Islands (RMI) Registry recognized several milestones and achievements during Posidonia, highlighting the collaboration and teamwork to make them possible. In mid-May 2026, the United States Coast Guard (USCG) released the 2025 Port State Control (PSC) Annual Report, which recognized the RMI as a qualifying jurisdiction for the 22nd consecutive year. The RMI is the only one of the world’s three largest registries to achieve QUALSHIP 21 for this year and the only registry in the world to achieve 22 consecutive years. The Registry also took the opportunity to recognize the recent landmark judgment at the International Tribunal for the Law of the Sea (ITLOS) in favor of the RMI in the Republic of the Marshall Islands v. Republic of Equatorial Guinea M/T “Heroic Idun” (No. 2), which reaffirms freedom of navigation and the principle of exclusive flag State jurisdiction on the high seas. During its Posidonia celebration, the Registry honored prominent Greek shipping leader, Mr. Anthony E. Comninos, founder of Target Marine S.A. and Horizon Tankers, with the Captain Xenakoudis Excellence in Shipping Award.
“Tonight we celebrate excellence and remember the shoulders on which we stand,” said Bill Gallagher, President of International Registries, Inc. and its affiliates (IRI), which provide administrative and technical support to the RMI Registry. “The award’s namesake, Captain Costas Xenakoudis, was a remarkable maritime leader, a true man among men. Hands on in every aspect of the business, Captain Costas cared deeply for the people he worked with, from the seafarers aboard the vessels he captained as a mariner to those that he supported through certification, inspection, and documentation activities shoreside,” continued Mr. Gallagher.
The Captain Xenakoudis Excellence in Shipping Award is given to an individual in the Greek shipping community who embodies vision, integrity, leadership, and an enduring commitment to the maritime industry. The award is named for Captain Costas Xenakoudis, a highly respected maritime leader, who served the industry for more than 60 years. Captain Costas joined the RMI Registry in 1994, and alongside Captain John Giannopoulos substantially increased the number of Greek-interest vessels with the RMI Registry.
“I believe that great leaders in our industry should not be measured solely by fleets, transactions, or commercial success. They should be measured by the institutions they strengthen, the people they inspire, and the communities they serve,” said Captain Costas’ son, Theo Xenakoudis, Chief Commercial Officer and Managing Director of IRI’s Piraeus office. “By those measures, Mr. Anthony E. Comninos stands among the very best,” Mr. Xenakoudis continued.
Target Marine is one of the Registry’s oldest Greek clients. Their first RMI-flagged vessel was registered under Captain Costas. During the awards ceremony, Mr. Xenakoudis highlighted Mr. Anthony E. Comninos’ place as a visionary in the industry and his personal connection to Captain Costas.
“Target Marine’s office is across from my childhood home,” Mr. Xenakoudis remarked during the award presentation. “My father greatly valued his relationship with Mr. Comninos and Target Marine. Not only as a respected maritime professional, but also as a neighbor. He appreciated their friendship and strong connection, and I know he would be proud to see this award presented to such an outstanding businessman, friend, and member of our community,” concluded Mr. Xenakoudis.
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