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Diana Containerships Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2013

18/02/2014
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, reported a net loss of $19.8 million for the fourth quarter of 2013, compared to net income of $0.3 million for the respective period of 2012. The loss for the fourth quarter was mainly the result of $9.7 million of impairment charges for the vessel Sardonyx, and direct sale and other

Shipbroker expects further spikes in tanker rates as winter season is progressing

17/02/2014

Tankers are experiencing their high season during these months, as opposed to dry bulk carriers, which are typically struggling during the first quarter of each year on low seasonal demand. This has been pointed out by the latest report from shipbroker Gibson, which noted that "winter is a hopeful period for crude tankers, providing some respite from the current poor

Core Pre-qualifications that Private Equity Investors Are Looking for in Potential Partners in Shipping

17/02/2014
Ever since the financial crisis in 2008 and the ensuing collapse of the freight markets in shipping, the traditional source of finance in shipping in the form of debt and its first preferred ship mortgage structure has gone dry.  Shipowners have had to compete aggressively for the little available capital the banks were still able to lend, and usually the new loan terms were very

Greek shipping company Stalwart Tankers files for U.S. IPO

17/02/2014
Greece-based chemical transportation company Stalwart Tankers Inc filed with U.S. regulators to raise up to $100

VLCCs lose ground during January, but Suezmaxes and Aframaxes stage rally

15/02/2014
According to the latest monthly report from OPEC, released this week, despite of the decline of VLCC freight rates seen in January compared to the previous month, average dirty spot freight rates remained in the positive zone, supported mainly by a considerable gain registered in both Suezmax and Aframax freight rates. VLCC spot freight rate losses in the first month of 2014 came

Star Bulk Takes Delivery of Its First Post -- Panamax Bulk Carrier, Star Vega

15/02/2014
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes,

Navios Maritime Acquisition Corporation Announces Upsize and Pricing of Follow-On Offering

15/02/2014
Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced today that it has

Slow steaming still holds the key for sustainable freight rates in the tanker markets

14/02/2014
The tanker market is still a tale of two sides, with crude tankers still lingering along, as opposed to the product tanker counterparts. According to the latest BIMCO estimates for February/March, earnings for the VLCC segment are expected to settle in the region of USD 10,000-25,000 per day. Suezmax crude oil carriers are also seen down from the recent peak to

Navios Maritime Holdings to Ring the NYSE Closing Bell(R), Commemorating the Company's 60th Anniversary

13/02/2014
Navios Maritime Holdings Inc., announced today that Chairman and CEO Angeliki Frangou,

Dry bulk market faces better prospects on the back of improving demand and supply balance

13/02/2014
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the back of low seasonal demand. As a result, freight rates fell across the board, although the Handysize market is still close to a three-year high. In its latest report on the market, issued yesterday, BIMCO said that it believes that "the level of

Hellas: Ship owners invest more than 13% billion in newbuilding orders in 2013 for 275 ships

13/02/2014
On the back of a positive sentiment for the future, 2013 saw Greek shipowners placing a record number of orders estimated at 25% of the global orderbook, with shipbuilders remaining upbeat as to future newbuilding investments funded by Greek interests. Last year Greek shipowners committed upwards of $13bn to newbuilding orders for 275 vessels of more

Paragon Shipping Inc. Announces Pricing of Public Offering of Common Stock

13/02/2014
Paragon Shipping Inc. announced today that it has priced its previously announced underwritten offering of

UANI Calls on Victor Restis, EST & George Sarris to Clarify Internal Policy Prohibiting Business in Iran

12/02/2014
United Against Nuclear Iran (UANI) called on Greek shipper Victor Restis, Enterprises Shipping

Paragon Shipping Inc. Announces Public Offering of Common Stock

12/02/2014
Paragon Shipping Inc. announced that it has commenced an underwritten offering of its Class A common stock. The net proceeds of this

Newbuilding orders reaching new Post-Crisis heights

12/02/2014
Ship owners are looking to take advantage of the last few attractive deals in the newbuilding market, before prices start climbing to new highs and are piling up the orders in a frantic pace. According to the latest weekly reports from shipbrokers, activity has kept on rising, with the deals done prior to the Chinese holidays now surfacing. According to the latest weekly

Navios Maritime Acquisition Corporation Reports Financial Results for the Fourth Quarter and Year Ended December 31,2013

12/02/2014
Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results for the fourth quarter and the year ended December 31, 2013. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, "I am pleased with our results for 2013, a pivotal year for Navios Acquisition in which we grew our fleet by 14 vessels.

Navios Maritime Partners L.P. Announces Pricing of Follow-On Offering

11/02/2014
Navios Maritime Partners L.P., an owner and operator of dry cargo vessels, announced today that it has priced its follow-on public offering

STEALTHGAS INC. Announces Pricing of Offering of Common Stock With Single Institutional Investor

11/02/2014
STEALTHGAS INC. (GASS), a ship-owning company primarily serving the liquefied petroleum

Is Genco Shipping & Trading Limited Worth More Dead Than Alive?

11/02/2014
The upcoming March 31 deadline for Genco Shipping & Trading to score waivers from its debt holders hangs over it like the sword
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