With decades of leadership experience in energy and shipping, Stavros Kokkinis has transitioned into backing ambitious early-stage startups. In this interview, he shares his journey, insights on the decarbonisation of shipping, high-stakes decision-making, and what he looks for in the next generation of founders and innovators.
Could you briefly share a bit about yourself and your career journey, from your background in energy and shipping to your transition into angel investing?
Stavros Kokkinis: I’ve spent my entire professional career with Shell, the energy major. Starting as a graduate recruit in Greece, I have lived and worked in the US, Italy, and the UK, leading global and regional businesses with direct P&L and people accountability.
When I concluded my time at Shell, I decided to seek a new challenge — one that would energize me while allowing me to explore new domains. Investing in early-stage startups, beginning with maritime tech (an industry I know well) and subsequently expanding into other sectors, has given me the opportunity to work with bold and ambitious entrepreneurs.
The energy transition has placed shipping at the centre of the decarbonisation debate. In your view, how transformative will this shift be for the sector over the next decade, and what challenges or opportunities do you see for the sector?
Stavros Kokkinis: Shipping has been since decades the “dumping ground” for the bottom of the barrel. Since power generation stayed in coal or moved to gas, bunkering became the main outlet for residual fuel oil. Ship engines, port infrastructure, pricing structures etc. are all built around that reality. Any material change in that will have a profound impact to the shipping industry.
Success of any decarbonization solution doesn’t depend on the technology itself but on its impact to ship’s: a) asset value long term and b) tradability.
Any propulsion solution which makes the ship less liquid in the S&P market, let alone carries the risk of becoming a stranded asset, or limits ship’s chances to be fixed due to constraints (cargo carrying type & capacity, access to ports, time to bunker etc.) will be challenged.
Reality is that LNG is the only alternative for now. Dual fuel ship engines and ship designs are commercially available, methane slip is being addressed and bunkering infrastructure exists in more than 200 ports worldwide.
I am proud to say that Shell Trading was in the forefront of the energy transition. Under my leadership the Freight desk concluded two large new built projects in two different asset classes (Chemical Tankers and LR2s) already back in 2018-2019. To my understanding these ships do serve now as the backbone of Shell Trading Freight portfolio.
Beyond LNG any “drop in” fuel (Methanol, BioFuels) will be easier to adopt. I believe Ammonia is a no go due to its highly toxic nature, while H2 is still a long shot at least for the ocean-going ships, given its onboard storage requirements and energy density.
Drawing on your experience in complex, high‑stakes environments such as shipping, how easily have you been able to make major decisions and manage risk? Were there moments along the way when you felt uncertain or vulnerable?
Stavros Kokkinis: Shipping & trading is all about managing — and monetizing — risk. Turning data into actionable insights is essential to making the right decision at the right time. Previous experience in facing similar situations is also valuable, as long as it does not create bias or prevent consideration of alternative options.
Of course, there are moments of uncertainty and doubt. These are the moments when you realize how strong your team is. Can you rely on them for advice? Are they mentally and professionally prepared to share the burden of a critical decision?
Now, you are also active as an angel investor. What prompted that move, do you focus on ventures connected to energy? How does your experience in big organisations and capital-intensive industries influence the way you assess early-stage opportunities?
Stavros Kokkinis: Investing in and advising early-stage start-ups has given me the energy and motivation I was seeking after my corporate career. My portfolio began with maritime tech — an industry that had lagged behind in the digitization journey — but now also includes investments in the broader energy space, such as wind, networks, and related technologies.
When I evaluate a concept or idea as a potential investment, I focus on a few fundamental questions:
- Is this a real and painful problem that we are trying to solve?
- What about the competition? Is this a crowded space or a greenfield opportunity?
- What is the unique value proposition that differentiates it from competitors?
- How large is the Serviceable Obtainable Market (SOM)?
- What could be a potential exit strategy in the future?
Across both large organisations and startups, leadership can make the difference between success and failure. What qualities do you look for in leaders that indicate they can succeed?
Stavros Kokkinis: When assessing a startup, one is practically assessing the founder(s). I personally care, first and foremost, about three things:
- Domain expertise: Does the founder have deep professional experience in the field and a thorough understanding of the specific problem they are solving? Academic credentials or theories are secondary; hands-on, practical experience is what matters most.
- Capacity to grow: Even if they don’t yet possess strong leadership skills, are they willing to invest the time and effort to learn, listen, and develop into CEO-caliber leadership?
- Drive and determination: Do they have the passion and persistence to act decisively, overcome obstacles, and turn their vision into reality?
The last point — drive and determination — is the most critical and often makes the difference between success and failure.
Looking ahead, what developments in energy, shipping, or innovation are you most optimistic about, and where do you see the biggest opportunities for the next generation of leaders and entrepreneurs?
Stavros Kokkinis: AI is a game changer — not necessarily as a replacement for humans, but as a means to augment human capabilities by increasing capacity and improving productivity.
Specifically in the maritime sector, the SaaS space is ripe for consolidation. This presents an opportunity for entrepreneurs and established players to position themselves as consolidators.
In the energy sector, investment opportunities exist in grid upgrades and expansions — to prevent renewable energy from being wasted and to improve connectivity — as well as in micro and mini distribution networks, which, when combined with AI, can enhance both consumer efficiency and network operator effectiveness.