Home / Shipping News / Hellenic Shipping News

Hellenic Shipping News

Capital Product Partners L.P. Rating Decreased to Hold by Zacks Investment Research

Zacks Investment Research cut shares of Capital Product Partners L.P. (NASDAQ:CPLP) from a buy rating to a hold rating in a research note published on Monday. According to Zacks, “CAPITAL PRODUCT PARTNERS L.P. is an international shipping company and leader in the seaborne transportation of refined oil products and chemicals. Their fleet of product tankers is fully chartered under medium- to long-term time and bareboat charters. With their modern, state-of-the-art fleet and built-in growth through contracted acquisitions of additional vessels and the potential drop-down of optional vessels from the owner ...

Read More »

VLCC tankers storing crude are much less than claimed, says shipbroker

Reports this week indicated that VLCC availability has been limited by a surge in floating storage which has consumed a large segment of the fleet, raising fears about the timing and implications of a mass return of these units to normal trading. However, according to shipbroker Charles R. Weber, “in examining both AIS idle fleet data and our proprietary commercial deployment data on a granular basis, we believe that the extent of floating storage has been overstated”. CR Weber said that “there are presently 42 VLCC units that have been ...

Read More »

Dynagas LNG Partners To Focus on Additional Contract Coverage During 2017

Dynagas LNG Partners LP, an owner and operator of liquefied natural gas (“LNG”) carriers, announced its results for the three months and year ended December 31, 2016. Three Months and Year Ended December 31, 2016 Highlights: Net income during the three months and year ended December 31, 2016 of $15.5 million and $66.9 million, respectively; Earnings per common unit for the three months and year ended December 31, 2016 of $0.39 and $1.69, respectively; Adjusted Net Income (1) for the three months and year ended December 31, 2016 of $17.3 ...

Read More »

Zacks: Aegean Marine Petroleum Network Inc. (ANW) Receives Average Recommendation of “Buy” from Analysts

Aegean Marine Petroleum Network Inc. (NYSE:ANW) has received a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. Aegean Marine Petroleum Network’s rating score has declined by 67% from 90 days ago as a result of various analysts’ ratings changes. Zacks has also given Aegean Marine Petroleum Network an industry rank of 155 out of ...

Read More »

Tankers: Japan’s influence on the tanker market not what it used to be

Japan used to be one of the most important markets for the tanker industry, as crude oil imports, mainly from the Gulf Arab region were the norm for decades. This is beginning to change these days, with shipbroker Gibson noting that “the Japanese refining industry has been experiencing challenging circumstances for a number of years, with significant rationalisation of refining capacity. Reform in the Japanese refining sector is not a particularly new story; however, in March 2017, a government directive will come into effect, forcing refiners to further boost efficiency, ...

Read More »

LNG Fuels Could Be the Way Forward For the Shipping Industry

LNG fuels have been on the forefront of alternatives for the shipping industry for quite some time now, but the latest developments with the IMO decision to limit sulphur content of marine fuels by 2020 are putting things into “fast forward” mode. In its latest weekly report, shipbroker Intermodal noted that “from January 2020, global sulphur content of marine fuels will be condensed from the current maximum of 3.5% to just 0.5%. This decision is designed to radically reduce emissions produced by vessels using marine diesel and fuel oil and ...

Read More »

Navios Maritime Holdings Inc. (NM) Rating Increased to Buy at Zacks Investment Research

Navios Maritime Holdings logoNavios Maritime Holdings Inc. (NYSE:NM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $2.25 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 20.32% from the company’s previous close. According to Zacks, “Navios Maritime Holdings Inc. is a seaborne shipping and logistics company engaged in the transport and transshipment of drybulk commodities including iron ore, coal and grain. It operates in three segments: ...

Read More »

Star Bulk Carriers Corp. Receives Average Rating of “Hold” from Brokerages

Shares of Star Bulk Carriers Corp. have received a consensus rating of “Hold” from the nine analysts that are presently covering the company. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.30. A number of equities analysts recently commented on the stock. Maxim Group raised shares of Star Bulk Carriers Corp. from a ...

Read More »

LNG Shipping Prospects Brighten Up, But Only for Long-Term Charters

New LNG projects coming online are bound to improve the fortunes of LNG shipping carriers. In a recent market outlook, shipowner GasLog said that “with a growing number of new demand centers, the demand outlook for LNG carriers with long-term charters remains positive. We continue to see tenders for multi-year charters for vessels, which we expect will be used to transport volumes from new liquefaction facilities coming online over the coming years. We believe that these new LNG volumes will create demand for additional ships over and above those available ...

Read More »

Safe Bulkers, Inc. Limits Loss and Increases Revenues as Dry Bulk Market Rebounds

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and twelve month period ended December 31, 2016. Summary of Fourth Quarter 2016 Results Net revenues for the fourth quarter of 2016 increased by 6% to $31.7 million from $29.9 million during the same period in 2015. Net loss for the fourth quarter of 2016 was $4.6 million as compared to $29.9 million, during the same period in 2015. Adjusted net loss1 for the fourth quarter of 2016 was $4.1 million ...

Read More »

STEALTHGAS INC. Ends Challenging 2016 on a Higher Note as LPG Freight Market Was Weaker, Sees Improvement Moving Forward

STEALTHGAS INC. (GASS), a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today its unaudited financial and operating results for the fourth quarter and twelve months ended December 31, 2016. OPERATIONAL AND FINANCIAL HIGHLIGHTS Vessel calendar days up 9.4% year on year with operational utilization of 91.1% for 2016. Operational utilization of 94.2% in Q4 2016 (91.0% in Q4 2015). Commercial off hire days reduced in Q4 2016 by 54.7% compared to previous quarter. 73% of fleet days secured on period charters ...

Read More »

Tsakos Energy Navigation Ltd (TNP) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Tsakos Energy Navigation Ltd. from a hold rating to a sell rating in a research report report published. According to Zacks, “Tsakos Energy Navigation is a leading provider of international seaborne crude oil and petroleum product transportation services. It was incorporated in 1993 as an exempted company under the laws of Bermuda under the name Maritime Investment Fund Limited. In 1996, Maritime Investment Fund Limited was renamed MIF Limited. Their common shares were listed in 1993 on the Oslo Stock Exchange and the Bermuda ...

Read More »

Star Bulk Carriers Corp. To Take Advantage of Its Extremely Low Break-Even Levels During 2017

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced its unaudited financial and operating results for the fourth quarter and year ended December 31, 2016. Petros Pappas, Chief Executive Officer of Star Bulk, commented: “Star Bulk announced today its fourth quarter and year end 2016 financial results, reporting $50.9 million in Net TCE Revenues and $15.6 million in Adjusted EBITDA during the fourth quarter of 2016, implying a free cash flow of $6.1 million from our operating fleet. The cash flow – ...

Read More »

Demand is picking up in the dry bulk market

Pacific Ocean dry bulk trades are starting to push the freight market to new heights recently, offsetting part of the limited activity in the Atlantic market. According to the latest weekly report from shipbroker Allied Shipbroking, “we have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple of days especially for iron ore. This has been in line with the restart of the main trade growth engines of the Far East which have started to ...

Read More »

Navios Maritime Holdings Inc. “In a Position to Capture Market Recovery” says Angeliki Frangou

Navios Maritime Holdings Inc., a global, vertically integrated seaborne shipping and logistics company, reported financial results for the fourth quarter and year ended December 31, 2016. Angeliki Frangou, Chairman and Chief Executive Officer, stated “Navios Holdings is positioned to capture any market recovery. In 2016, we reduced expected 2017 breakeven by $28.0 million through a number of actions, including purchasing, at a discount, (i) about $60.0 million in face value of our unsecured bonds and (ii) $61.1 million of par outstanding Series G and H ADSs. We also reduced the ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping