Although this week has seen limited reported ordering, the newbuilding market remains active with on‐going discussion across the majority of conventional sectors and a further tightening of available shipyard capacity for delivery next year. This was stated by Clarkson Hellas in its latest report, where it noted that "what orders
Record U.S. exports of liquefied petroleum gas are spurring StealthGas (GASS) Inc. to redeploy tankers as far
Eagle Bulk Shipping Inc. yesterday announced its results for the fourth quarter and fiscal year ended
The recent crisis in Cyprus and its much debated rescue plan will undoubtedly have an impact in the shipping industry as well, not so much in terms of Cyprus-based companies, but more importantly in the future prospects of the Eurozone economy, where a large part of the shipping community is based.
It's been the usual story so far in the 2013 year for the owners of VLCC tankers; pressured spot rates, which are attributed to the usual culprit combination of tonnage overcapacity and relatively weak demand. According to the latest report from US-based consultantants of Mcquilling Services, weak demand "has been further exacerbated by seasonal refinery maintenance, particularly in the US. According to data from JBC
Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and an international provider of
The banking crisis is not affecting the island’s shipping industry, Transport Minister Tasos Mitsopoulos said yesterday.
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship owners to stage a come back in the second hand and newbuilding markets, during the course of the past week. According to the latest report from shipbroker Intermodal, "tankers and bulkers attracted equal interest in the secodnhand market. What we hadn't seen for a long time
Businesses are feeling the strain with the closure of banks in Cyprus now in its second week. The island’s
In rain and shrieking wind, the ferry strains at its ropes, the gangplank creaking and scraping against the pier.
Newbuilding ordering activity picked up once again during the course of the past week, as many European ship owners looked to close up pending deals, ahead of the coming Easter Holidays in a large part of Europe, the US and other countries around the world. According to the latest report from shipbroker Golden Destiny, overall the past week was completed with a total of 49 new orders reported worldwide for a total ship
Tsakos Energy Navigation Limited, a leading product, crude and LNG tanker operator, yesterday announced
GasLog Ltd. is pleased to announce the delivery of the fully owned LNG carrier GasLog Santiago, from Samsung
Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced yesterday that
Everyday more and more shipping delegates are arguing in favor of further tanker newbuilding ordering, as they deem this period of time and the current earning environment as an opportunity to purchase new vessels, ahead of a future rate recovery. According to the latest report from analyst Poten & Partners, "many owners, relying on sometimes generations’ worth of experience, are confident of the inevitability
Hellenic Carriers Limited, an international provider of marine transportation services for dry bulk cargoes,
Investor interest and confidence is returning to Greece as the threat of a eurozone exit fades, says international
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the world, imposing the burning of cleaner marine fuels and thus turning the shipping industry into one with a much lower environmental impact. According to the latest weekly report from shipbroker Gibson, bunker prices have fluctuated more than two fold in the last five years.
Nautilus Marine Acquisition Corp. yesterday announced that it has taken delivery of the SK Line 69, to be
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk and tanker market segments. In the dry bulk market, there's room for optimism as a result of an expected sharp decline of newbuilding deliveries over the next two years. "With