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Dry Bulk Market: Confidence Is Growing Among Ship Owners

Things are shaking up in the dry bulk market of late. In its latest weekly report, shipbroker Intermodal said that “after an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing until the end of March market peak. During the second quarter and until the beginning of this month, the freight market witnessed pressure, which was more evident in Capesizes, with the BDI nonetheless resisting to break below 800 points. During the past couple of weeks, we ...

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Navios Maritime Partners “a Unique Platform in the Dry Industry with $700 Million In Contracted Revenue” Claims Angeliki Frangou, as the Company Issues Second Quarter Results

Navios Maritime Partners L.P., an international owner and operator of container and dry bulk vessels, reported its financial results for the second quarter and six months ended June 30, 2017. Angeliki Frangou, Chairman and Chief Executive Officer, stated, “For the second quarter of 2017, Navios Partners reported Consolidated Revenue of $50.0 million and Consolidated Net Income of $4.1 million. In addition, Adjusted EBITDA was $32.2 million.” Angeliki Frangou continued, “Navios Partners is a unique platform in the dry industry, with about $700 million in contracted revenue, 84% of which is ...

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GasLog Partners LP: Acquisition of GasLog Greece Propells Company to Higher Ground

GasLog Partners LP, an international owner and operator of liquefied natural gas (“LNG”) carriers, reported its financial results for the three-month period ended June 30, 2017. Highlights · Completed the acquisition of the GasLogGreece from GasLog Ltd. (“GasLog”) for $219.0 million, with attached multi-year charter to a subsidiary of Royal Dutch Shell plc (“Shell”). · Announced and, post quarter-end, completed the acquisition of the GasLog Geneva from GasLog for $211.0 million, with attached multi-year charter to a subsidiary of Shell. · Completed public offering of 8.625% Series A Cumulative Redeemable ...

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Diana Shipping Inc. Announces Time Charter Contract for m/v Maia With Glencore

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 Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Maia. The gross charter rate is US$10,125 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum fifteen (15) months. The charter is expected to commence later today. The m/v Maia is currently chartered, ...

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Diana Shipping Inc. Announces an Incident Involving the m/v “Melite”

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that the employment of one of its Panamax bulk carriers, the m/v Melite, has been temporarily disrupted due to a grounding incident at Pulau Laut, Indonesia. Although the Company is still assessing the situation, the crew is in no danger as a result of this incident and there has been no pollution. It appears that the vessel has suffered damage to her hull resulting from the grounding. The “Melite” is a 76,436 dwt Panamax ...

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Diana Shipping Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2017

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today reported a net loss of $23.8 million and net loss attributed to common stockholders of $25.3 million for the second quarter of 2017. This compares to a net loss of $31.3 million and net loss attributed to common stockholders of $32.7 million for the second quarter of 2016. Time charter revenues were $37.8 million for the second quarter of 2017, compared to $28.3 million for the same quarter of 2016. The increase in time ...

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Port-IT and Lemur Maritime sign partnership to deliver Port-IT cyber security solutions to the Greek shipping sector

Port-IT an specialised Cyber Secured Maritime Business IT Supplier has signed a strategic partnership agreement today with Lemur Maritime based in Piraeus, Greece, to deliver Port-IT digital cyber security solutions to the Greek – Cyprus shipping sector. Port-IT and Lemur will work together with their customers to address cyber security email threats. Services will include antivirus Protection, Crew mail, Dashboard monitoring, Unified threat management solution, state of the art firewall solutions, file storage and their newly introduced cyber secured service: Orilla Mail. Orilla Mail is a low cost solution for ...

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Dry Bulk Market’s Improvement Translates to Increased Net Revenue for Safe Bulkers, Inc.

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and six months period ended June 30, 2017. Summary of Second Quarter 2017 Results Net revenue for the second quarter of 2017 increased by 34% to $35.0 million from $26.2 million during the same period in 2016. Net loss for the second quarter of 2017 was $1.6 million as compared to $9.0 million, during the same period in 2016. Adjusted net loss[1] for the second quarter of 2017 was $2.3 ...

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Navios Maritime Containers Inc. Reports Financial Results for the Second Quarter And Expects to Receive All 14 Container Ships formerly owned by Rickmers

Navios Maritime Containers Inc., a growth vehicle dedicated to the container sector of the maritime industry, reported financial results for the period from April 28, 2017 (date of inception) through June 30, 2017. Angeliki Frangou, Chairman and Chief Executive Officer, stated, “We are pleased with the launch of Navios Containers, a vehicle dedicated to the container sector. Navios Containers has the right to acquire all containerships offered to the Navios Group.” Angeliki Frangou continued: “We are also pleased to have closed on the Rickmers Maritime Trust transaction and expect all ...

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Hellas: Number of Newbuilding orders drop during H1 2017

Greek ship owners have more than doubled their newbuilding orders during the first half of 2017. According to exclusive data provided to Hellenic Shipping News (www.hellenicshippingnews.com), from ship valuations’ specialist VesselsValue, ship owners from Greece have so far placed orders for 58 ships, versus 28 in the same period of 2016 and 72 in 2015. As such, Greek owners have returned atop of the global newbuilding activity and by some margin, given that the next highest ordering nation was China with 40 orders. Japanese owners ordered just 13 ships, versus ...

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Navios Maritime Midstream Partners L.P. Reports Decreased Financial Results On Challenging Market Conditions

Navios Maritime Midstream Partners L.P., an owner and operator of tanker vessels, reported its financial results today for the second quarter and the six month period ended June 30, 2017. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Midstream, stated, “We are pleased to report $18.5 million of revenue and net income of $2.0 million for the second quarter of 2017. We also earned $12.4 million of EBITDA for the quarter and announced a distribution of $0.4225 per unit. Our quarterly dividend represents an annualized distribution of $1.69 per ...

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Diana Containerships Inc. Announces One-for-Six Reverse Stock Split

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today announced that its Board of Directors (the “Board”) has determined to effect a reverse stock split of the Company’s common shares, par value $0.01 per share, at a ratio of one-for-six. The Company’s shareholders approved the reverse stock split and granted the Board the authority to determine the exact split ratio and proceed with the reverse stock split at the Company’s Annual Meeting of Shareholders held on June 29, 2017. The reverse stock split will take ...

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Greek shipowner Marinakis acquires media group DOL

Greek shipowner Vangelis Marinakis is the new owner of DOL, one of Greece’s historic major media groups, after an Athens court ratified on Monday a tender held in late May. The court dismissed the objection on the tender process made by one of the other participants, reported TA NEA (The News) newspaper, one of DOL’s dailies. Marinakis made the the largest offer of 22.9 million euros (26.7 million U.S. dollars) to acquire the debt ridden DOL group, which includes top selling TA NEA and VIMA newspapers, two of the country’s ...

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New marine fuel requirements boost newbuilding ordering activity

Things are heating up again in the newbuilding ordering market, despite the relative slowdown over the course of the past few weeks, which was deemed as a mainstay, at least until the end of August. In its latest weekly report, Allied Shipbroking noted that “despite being well into the summer period which notes a typical slow down in new ordering and despite the fact that we had seen a fair softening in activity over the past couple of weeks, things seemed to have sparked back into life this past week, ...

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Availability of 180 CST bunker fuel at Greece’s Piraeus set to rise

Availability of 180 CST bunker fuel in the Greek port of Piraeus is set to rise this week, after a period of tightness, according to market sources in the port. The local bunkering market had been out of the fuel since the middle of last week, amid tight general availability of all bunker fuel in the port. While something of a niche segment of the bunker market, 180 CST is used by ferries and other smaller-sized vessels. Platts assessed 180 CST in Piraeus at $316/mt on Monday, down from a ...

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