Team size: Five

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

The globalisation of our business requires the need for harmonisation with international and European frameworks – GDPR has had a considerable impact on our team, we had to adapt our internal procedures to comply with new requirements. The Covid-19 pandemic has stressed the need for co‑ordinated and well-enforced regulatory frameworks at both national and international levels. Cyprus is the crew management hub of the OSM Maritime Group, and our crew is our top priority. During the pandemic, our crews were challenged – countries closing their borders, lockdowns, airlines pausing their operations. There have been numerous consequences, most notably the global travel and trade restrictions; therefore, we have appointed a head of Covid-task force manager to ensure the smooth handling of all covid related matters for our global operation.

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

The in-house counsel role has considerably changed in recent years. Legal teams transform alongside the needs of businesses. Technology has enabled new strategies for sourcing legal services. The traditional legal function hierarchy will change into a more agile structure. There has been an increased focus on corporate governance, compliance and enforcement being part of the in-house legal team’s standard responsibilities. In-house lawyers will always need to be analytical thinkers and hold relevant legal qualifications, especially in our sector – shipping has its own legal specialisation and therefore an in-house legal counsel with a deep knowledge of maritime law will always be an asset. Today, in-house lawyers need to be commercial advisors, strategic thinkers, and leaders with commercial and financial skills. They must communicate efficiently and be capable of providing clear, pragmatic and commercially viable legal advice.

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

ESG has always been one of our top priorities. OSM is committed to contributing to the global footprint by aiming at conducting business in a sustainable and responsible manner. We are involved in activities to improve the energy efficiency of our operations at all levels. A dedicated in-house team – OSM Green – is now established to develop solutions that support environmental initiatives. OSM’s commitment to sustainability was reinforced in 2017 when it became member of the UN Global Compact under one of the operating units. From 2018 and onwards, the sustainability report was expanded to include relevant data and statistics for the entire OSM Group. We confirm and renew our commitment to the United Nations Global Compact and its ten principles in the areas of human rights, labour, environmental protection, and anti-corruption.