The Logothetis family’s Libra Philanthropies has announced a new student sponsorship scheme in the US to honour Greek shipowner Philip Embiricos.

The independent Libra Philanthropies foundation said the Philippe A Embiricos (1968) Fellowship in Ocean Engineering will be set up with a gift of $500,000 at the Massachusetts Institute of Technology (MIT).

Embiricos died in 2021 at the age of 78.