Home / Shipping News / Hellenic Shipping News (page 2)

Hellenic Shipping News

Clarification on Insurance Premium Tax Cover in Greece

Members are referred to Notice to Members No.15 2015/2016 concerning Insurance Premium Tax (IPT) in Greece. The IPT regime in Greece was amended in July 2015 and the standard IPT rate increased from 10% to 15%. The new regime also appeared to remove all exemptions, leading to considerable uncertainty for P&I Clubs and their Members. In order to clarify the situation, the new Independent Government Income Authority have recently issued a Circular (POL. 1028/22.2.2017) which confirms that P&I covers remain exempt from IPT. With regard to FD&D cover, the Managers ...

Read More »

Dry Bulk Market Fundamentals Point Towards A Viable Recovery

The dry bulk market has dug itself out of the hole it’s been for a large part of the past few years. In fact 2017 has started better than most ship owners would have hoped, as over the past couple of months we have seen the emergence of renewed optimism. “Renewed optimism” is but a light way of putting it, as many in the shipping industry will point out. In its latest weekly report, shipbroker Allied Shipbroking noted that “freight rates in the dry bulk market have consistently held above ...

Read More »

Capital Ship Management becomes the first LRQA client worldwide to have MRV Monitoring Plan assessed

Capital Ship Management Corp. completed the first accredited assessment of their MRV monitoring plan for the vessel M/T ‘Alkiviadis’ on March 7 2017. The assessment was performed by the world’s leading provider of professional assurance services, LRQA, which is a member of the Lloyd’s Register group (LR). The assessment was conducted in accordance with Regulation (EU) 2015/757 (monitoring, reporting and verification of Carbon Dioxide (CO2) from shipping activities), also known as MRV Regulation. The MRV Regulation came into force on 1st July 2015 and is a significant feature of the ...

Read More »

Navios Maritime Midstream Partners LP Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Navios Maritime Midstream Partners LP (NYSE:NAP) from a sell rating to a hold rating in a research report sent to investors. According to Zacks, “Navios Maritime Midstream Partners LP engages in owning, operating and acquiring crude oil tankers, refined petroleum product tankers, chemical tankers and liquefied petroleum gas tankers under long-term employment contracts. The Company charters its contracts to international oil companies, refiners and large vessel operators. It owns a fleet of four very large crude carriers (VLCCs) providing global marine transportation services. Navios ...

Read More »

Dry Bulk: Higher scrap prices could tempt more ship owners to scrap their older vessels

With ship demolition rates picking up considerably over the course of the past few months, this could be a prime time for many ship owners to finally scrap their older bulkers, especially if surveys are on the way for them. Already, Capesizes offered for scrap have diminished to just 13 so far in the year, versus 40 last year, as per data from GMS, the world’s biggest cash buyer of ships. In its latest report, the company noted that “continued (increasing) positivity in prices reflected an increasingly bullish international ship ...

Read More »

DNV GL: Hellas is the Group’s 3rd Home Market

The Annual Greek Technical Committee of DNV GL attended by its members, gathered in the Athenaeum InterContinental Hotel, in Athens. Chairman’s opening address The acting Chairman, Sokratis Dimakopoulos, made an introduction describing the current regulatory environment with new and significant requirements coming into effect, like BWM, MRV, sulphur cap, TMSA 3, etc. which in connection with the poor market situation, results in a very demanding and challenging operating environment. He further pointed out that the Committee meetings assist the members in being better informed, sharing experience and knowledge, providing feedback ...

Read More »

Diana Containerships Inc. Announces up to US$150 Million Securities Offering

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced today that the Company has entered into a Securities Purchase Agreement with Kalani Investments Limited, an entity organized in the British Virgin Islands (“Kalani”) that is not affiliated with the Company, for the sale of 3,000 newly-designated Series B-1 Convertible Preferred Shares, preferred warrants to purchase 6,500 Series B-1 Convertible Preferred Shares and preferred warrants to purchase 140,500 newly-designated Series B-2 Convertible Preferred Shares. The B-1 Convertible Preferred Shares, the Series B-1 Preferred Warrants (and the ...

Read More »

Capital Ship Management Corp. is Awarded the “Best Vessel Operator – Europe” Sea Transport Award 2017

Capital Ship Management Corp. was awarded the “Best Vessel Operator – Europe ” Sea Transport Award 2017 by UK publication “Transport News” and AI Global Media Ltd. Mr. Evangelos Marinakis, Chairman of Capital Maritime & Trading Corp. commented: “We are honored to receive this award which testifies to the safe, environmentally responsible and commercially successful transportation of our clients’ cargoes around the world.” Capital Ship Management Corp. (a subsidiary of Capital Maritime & Trading Corp.) is a distinguished oceangoing vessel operator, offering comprehensive services in every aspect of ship management, ...

Read More »

Dry Bulk Ships: Firm Interest in S&P Market Could Trigger More Newbuilding Orders in the Future

Although it’s still very early days, shipbrokers are starting to see potential signs towards more newbuilding activity, which could be triggered as a result of the strong demand for dry bulk carriers in the second hand market. In its latest weekly report, Allied Shipbroking noted that “there continues to be rumors of the market starting to see some sparks of interest and in turn activity. It is still too early to tell to what degree this is actually a revival of demand in the market or just a small temporary ...

Read More »

Navios Maritime Holdings Inc. Announces Preferred Stock Exchange Offer

Navios Maritime Holdings Inc. announced that it commenced an offer to exchange newly issued shares of Common Stock of Navios Holdings (“Common Stock”), for any and all outstanding American Depositary Shares, each representing 1/100th of a share of either 8.75% Series G Cumulative Redeemable Perpetual Preferred Stock (the “Series G ADSs”), or 8.625% Series H Cumulative Redeemable Perpetual Preferred Stock (the “Series H ADSs”). Offer to Purchase The Company is offering to exchange, upon the terms and subject to the conditions of the Exchange Offer, newly issued shares of Common ...

Read More »

Navios Maritime Partners L.P. Announces Closing of $100 Million Offering

Navios Maritime Partners L.P., an international owner and operator of container and dry bulk vessels, announced today that it has closed the previously announced offering of 47,795,000 common units at $2.10 per common unit, raising approximately $100 million of gross proceeds. Navios Partners will use the net proceeds of the offering for general working capital purposes, including vessel acquisitions. Navios Partners’ common units trade on the New York Stock Exchange under the symbol “NMM.” Following the closing, Navios Partners will have 147,436,276 common units and 3,008,908 general partner units outstanding. ...

Read More »

Product Tankers: Higher Tonne Mile Demand will come from Asia says shipbroker

The growth prospects of the product tanker market have been in debate over the past few months, after the subdued performance of the clean tanker segment during 2016. As such, the latest IEA medium term oil market report, which was released earlier this months could provide cause for at least some degree of optimism. Shipbroker Gibson noted in its latest weekly report that “most relevant to the product tanker market, was the IEA’s analysis of product balances, broken down into light (gasoline/naphtha), middle (gasoil/kerosene) and heavy distillates (fuel oil). Interestingly, ...

Read More »

Dr. Anand Hiremath, GMS receives the Certificate of Approved HazMat Expert from DNV-GL

GMS is proud to announce Dr. Anand’s M. Hiremath’s successful completion of the examination for the “Approved HazMat Expert” certificate with DNV-GL in Piraeus, Greece. GMS maintains a policy of monitoring responsible ship recycling activities being conducted at certified recycling yards across the world on behalf of its clients and provides the owners of ships and offshore assets with a monthly ship recycling report highlighting important information at every stage of the recycling process. Dr. Anand Hiremath, a civil engineer who holds a Master’s degree in Environmental Engineering in addition ...

Read More »

Costamare Inc Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Costamare Inc (NYSE:CMRE) from a strong sell rating to a hold rating in a research note. According to Zacks, “Costamare Inc. operates as a containership owner chartering its vessels to liner companies. The Company deploys its containership fleet principally under multi-year time charters with leading liner companies that operate regularly scheduled routes between large commercial ports. It also provides a range of shipping services, such as technical support and maintenance, insurance consulting, financial and accounting services. Costamare Inc. is headquartered in Athens, Greece. “ ...

Read More »

Gaslog Ltd. Announces Pricing Of Public Offering Of 8.875% Senior Notes Due 2022

GasLog Ltd., an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, announced that it priced its public offering of $250.0 million aggregate principal amount of 8.875% Senior Notes due 2022 (the “Notes”) at a price to the public of 100% of the principal amount. The Notes will mature on March 22, 2022 and will bear interest at a rate of 8.875% per annum, payable quarterly in arrears on March 30, June 30, September 30 and December 30 of each year, beginning on June 30, 2017. The net ...

Read More »

Recent Videos

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