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Diana Shipping Inc. Announces Time Charter Contracts for m/v Santa Barbara with Cargill and m/v Salt Lake City with Uniper

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$12,000 per day, minus a 4.75% commission paid to third parties, for a period of about twelve (12) months to maximum fifteen (15) months. The charter is expected to commence on January 24, 2017. The “Santa Barbara” ...

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With Profitability At The Forefront, Is This Stock a Top Pick: Genco Shipping & Trading Limited (:GNK)

Any investors would pay particular attention to the profitability of a company before considering taking a position. Here we’ll take a quick look at shares of Genco Shipping & Trading Limited (:GNK) and the company’s ability to generate profit. The firm currently has a Return on Equity -24.00% which is derived from comparing 12-months net income to shareholder equity. So even though the company is generating profits, where can the stock go from here? Sell-side analysts covering the shares are projecting a one year price target of $6.67 on the ...

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Newbuilding activity returns to “snail pace” once again as ship owners shy away from new contracting

It seems that the trend set in 2016, when newbuilding orders hit a multi-year low is going to spill over to 2017 as well, with the majority of ship owners shying away from contracting, despite attractive prices. In its latest weekly report, shipbroker Allied Shipbroking noted that “after a fair amount of activity being seen in the first week of the year, things seem to have settled back down with minimal reported these past couple of days and those revolved around more specialized vessels. We have started to see a ...

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Navios Maritime Partners L.P. Announces the Completion of the Sale of a Container Vessel

Navios Maritime Partners L.P., an international owner and operator of container and dry bulk vessels, announced today the completion of the previously announced sale of the MSC Cristina, a 2011 South Korean-built Container vessel of 13,100 TEU. The vessel was sold to an unrelated third party for a total net sale price of $125.0 million. Approximately $100.0 million of the sale proceeds were used to repay bank debt. Source: Navios Maritime Partners L.P.

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Euroseas Ltd. Announces Delivery of Newbuilding Ultramax Drybulk Carrier

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it took delivery of the previously announced acquisition of the newbuilding Hull DY 160, to be renamed Alexandros P, a 63,500 dwt fuel efficient Ultramax drybulk carrier built in January 2017. Aristides Pittas, Chairman and CEO of Euroseas commented: “We are very pleased to complete the acquisition of Alexandros P, an Ultramax drybulk carrier the construction of which we have supervised over the last two ...

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HELMEPA launches 2017 training programme

The new Voluntary Refresher Training Programme of HELMEPA is launched today, 17th January 2017, with the two-day ‘Marine Environmental Awareness’ seminar, which is certified by the Maritime Authority of Cyprus. The Programme consists of 24 seminars falling under the following five categories, of which the first four include five two-day seminars and the fifth category includes four one-day seminars. They are: Best practices for MARPOL implementation; challenges for shipping and new regulations; the human element and operational safety on board; marine environmental awareness and modern marine meteorology. The seminars’ instructors ...

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Globus Maritime’s stock plunges after private placement deal falls through

Globus Maritime Ltd.’s stock plunged 24% in premarket trade Tuesday, after the dry bulk shipper said its previously-announced private placement will not occur as planned. The company said late Friday that deal had required multiple parties to close transactions simultaneously, but one party had not agreed to complete the transaction. The company first announced the private placement and the conversion of certain outstanding loans on Nov. 28, then said on Dec. 20 that the closing of the private placement would be delayed until Jan. 13. The stock has more than ...

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The Euroseas Ltd. Stock Rating Upgrade by The Zacks Investment Research

Euroseas Ltd. was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $5.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 14.68% from the stock’s previous close. According to Zacks, “EUROSEAS LTD. was formed under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past ...

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Tanker newbuildings’ delays and cancellations reached 25% during 2016 says shipbroker

Higher than initially anticipated tanker newbuildings’ slippage during 2016 doesn’t bode well for the freight market’s fortunes during 2017. In its latest weekly report, shipbroker Gibson noted that “newbuilding delays are a common in shipping. Slippage can often be prompted by the owner who wants to delay the entry into a weak market, with depressed earnings. In the recent past, delays initiated by the tanker owner were most visible during the previous industry downturn between 2011 and 2013. Alternatively, shipyards themselves could be behind the delays. Shipbuilders may fail to ...

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Palau Ship Registry Opens New Offices In Piraeus, Greece

Palau International Ship Registry (PISR) takes great pleasure and honor to announce the expansion of its USA, Houston Offices to Piraeus, Greece Head Office. Retaining our commitment in Houston USA, we expand our services in the heart of the world shipping community, in Greece. This fundamental move was necessary for our Registry to fully serve the needs of the Greek maritime stakeholders; in order to provide our state-of-the-art value added service to one of the most competitive markets in the world. With our presence in Piraeus and the additional operational ...

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Gaslog Ltd. And Gaslog Partners Lp Announce CFO Transition

GasLog Ltd. and GasLog Partners LP announced today that, following a period of successful growth and the transformation of the Company, Simon Crowe has advised the Boards of both companies of his decision to step down from his position as Chief Financial Officer on June 30, 2017. In order to facilitate a smooth transition, Mr. Crowe will remain in his current position as the search for his replacement proceeds. Peter Livanos, Chairman of GasLog and Director of GasLog Partners, said, “Simon joined GasLog at a critical point as it evolved ...

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Gener8 Maritime Inc. to Post Q1 2017 Earnings of $0.39 Per Share, Seaport Global Securities Forecasts

Research analysts at Seaport Global Securities raised their Q1 2017 earnings per share estimates for Gener8 Maritime in a research report. Seaport Global Securities analyst M. Fyhr now anticipates that the firm will post earnings of $0.39 per share for the quarter, up from their previous estimate of $0.27. Seaport Global Securities also issued estimates for Gener8 Maritime’s Q2 2017 earnings at ($0.13) EPS, Q3 2017 earnings at ($0.15) EPS, Q4 2017 earnings at $0.06 EPS, FY2017 earnings at $0.16 EPS and FY2018 earnings at $1.05 EPS. Separately, Zacks Investment ...

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The Diana Shipping Inc. Upgraded To Buy At The Zacks Investment Research

Zacks Investment Research upgraded shares of Diana Shipping inc. from a hold rating to a buy rating in a research note issued to investors. They currently have $3.50 price objective on the stock. According to Zacks, “Diana Shipping Inc. is a global provider of shipping transportation services. They specialize in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. “ DSX has been the topic of a number of other research reports. Jefferies Group reissued a hold rating on shares ...

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Shipowners Keep Loading Up With More Dry Bulk Carriers as They Await Market’s Recovery

Shipowners, many of them Greek, have kept adding dry bulk carriers on their fleets, as they are waiting for the market to recover. Until that happens though, shipbroker Advanced Shipping &Trading noted, in its latest weekly report, that despite last year’s optimism, the market didn’t manage to post a substantial rebound until the final quarter of 2016. As such, many analysts were expecting this trend to continue during the first quarter of 2017 as well, but so far, the Baltic Dry Index has witnessed a slow start to the year, ...

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Globus Maritime Announces Update Regarding Private Placement

Globus Maritime Limited, a dry bulk shipping company, announced that its previously disclosed private placement and conversion of debt will not occur as planned. The transaction was previously described in the Company’s press release issued on November 28, 2016 and Current Report on Form 6-K filed with the Securities and Exchange Commission on November 29, 2016. These transactions with multiple parties had to all close simultaneously, but one party has not agreed to consummate the transaction. This news release does not constitute an offer to sell or a solicitation of ...

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