An increase of oil demand from Latin America combined with a modest refinery capacity could bode well for tanker owners. According to the latest weekly report from shipbroker Gibson, "the recent fire at Argentina’s 190,000 b/d La Plata refinery, has led to an increase in product imports. La Plata accounts for more than a third of the country’s product production which has
The recent trip of Hellas' Prime Minister to China proved to be a rather beneficial one for Chinese shipyards, as the company of Hellenic ship owners which were escorting the Prime Minister, took advantage of the opportunity to secure more deals. According to shipbrokers' reports which have surfaced during the course of the week, Hellenic
Shipping News Worldwide estimates that a total of
Tsakos Energy Navigation Limited Friday reported results (unaudited) for the first quarter ended March 31, 2013. The first quarter of 2013 ended with net income of $1.0 million and represents a considerable turnaround and improvement over the 2012 first quarter for which we reported a net loss of $8.8 million. The results are mainly due to increases in product carrier
The dry bulk market was once again down on Thursday's session, as the Baltic Dry Index (BDI) closed marginally lower to 828 points, or 0,12% lower on the day. The main reason was the dip of the Baltic Panamax Index, which was down by 17 points or 1.93 percent to 863 points. As a result, average daily earnings of Panamaxes
were down to $6,878. By contrast, the Capesize
STEALTHGAS INC., a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced yesterday its unaudited financial and operating results for the first quarter ended March 31, 2013.
First Quarter 2013 Results:
• Revenues for the three months ended March 31, 2013,
It appears that the tide could be shifting for tanker owners, as things are starting to change for the better, day-in-day-out. According to the latest report from shipbroker Intermodal, this positive trend is exhibited week by week, by the firming prices noted in the second hand market as Asian buyers' interest mounts. According to the report, "most market players
DryShips Inc. (NASDAQ: DRYS), or DryShips or the Company, an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, of offshore deepwater drilling services, yesterday announced its unaudited financial and operating results for
Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry
Baltic Trading Limited yesterday announced the pricing of its public offering of common stock. The offering was
China Exim Bank has signed agreements with three Greek shipowners - Diana Shipping, Angelicoussis Shipping and Dynagas Shipping -to support them ordering vessels including LNG
The dry bulk segment has kept on dominating newbuilding ordering activity during the course of the past week, but this time around, shipowners' focus has revolved more around the smaller in size, but more agile and versatile Handysize and Supramax classes. According to the latest weekly report from shipbroker
Navios Maritime Holdings Inc., a global, vertically integrated seaborne shipping and logistics company, yesterday reported financial results for the quarter ended March 31, 2013.
Angeliki Frangou, Chairman and Chief Executive Officer of Navios Holdings, stated, "We are pleased with our results for the first
Diana Containerships Inc., a global shipping company specializing in owning and operating containerships,
Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels,
Tanker trades appear to be rather vulnerable to the different rates of economic recovery around the world, which has led to major swings of oil product demand. According to the latest weekly report by Poten & Partners, "the “three speed” recovery – a phrase of choice of the IMF – refers to varying rates of economic
become China's gateway into Europe as well as the opposite said Prime Minister
Antonis Samaras, speaking last night on the occasion of the Mechant Navy's Day
and the European Day of Sea. The event was organized by the Union of Greek
Shipowners and the Hellenic Chamber of Shipping.
Seanergy Maritime Holdings Corp. announced yesterday that its wholly-owned subsidiary,
Paragon Shipping Inc., a global shipping transportation company specializing in drybulk cargoes, announced
In its latest weekly report, London-based shipbroker Gibson noted that India could soon emerge as a decisive factor in providing a boost in the tanker market. According to the shipbroker,"over the past ten years, India’s crude oil imports have more than doubled to accommodate the country’s growing population and expanding economy. This has driven
Hellenic Shipping Minister Kostis Moussouroulis said here Saturday Hellenic shipowners have recently signed contracts to buy 142 new ships from Chinese shipbuilding companies.