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Liberian Registry cements position as No 1 choice for Greek shipping

Liberia has confirmed its position as the leading flag of choice for Greek ship owners and operators, according to statistics produced by the independent research and information organisation Marine Information Services (MIS) in Greece. The MIS figures show that the Greek merchant fleet now includes 1,037 Liberian-flag ships. Liberia also leads the way in terms of total deadweight tonnage registered under its flag by Greek owners, aggregating 78m dwt. Michalis Pantazopoulos, Senior Vice-President of the Liberian International Ship & Corporate Registry in Greece, says, “The MIS figures measure fleet size ...

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Dry Bulk: Improved Freight Rates Propell Safe Bulkers’ First Quarter Revenues by 35%

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the three month period ended March 31, 2017. Summary of First Quarter 2017 Results Net revenue for the first quarter of 2017 increased by 35% to $33.3 million from $24.7 million during the same period in 2016. Net loss for the first quarter of 2017 was $3.3 million as compared to $17.8 million, during the same period in 2016. Adjusted net loss1 for the first quarter of 2017 was $3.4 million as compared ...

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Dry Bulk Market Fortunes Still Reliant on Chinese Imports, but Tonnage Supply is Crucial As Well

Sometimes numbers are hard to resist, as they more often than not, tell the truth. In the case of dry bulk shipping, the undeniable truth is that, demand-wise, Chinese imports remain the most important determining factor behind the freight market’s fortunes. In its latest weekly report, shipbroker Intermodal noted that “according to the latese economic data, Chinese imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b – whilst in April they failed reaching market estimates which were at 18% rise and remained at 12% rise ...

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Q88VMS Makes a Splash in Greece with Maran Tankers Management Signing

Q88 LLC has announced that Maran Tankers Management has selected Q88’s voyage management system, Q88VMS, to manage the company’s chartering and commercial operations. The cloud-based platform will allow Maran Tankers Management seamlessly to operate its growing fleet across their various offices without disruption or delay. “Q88VMS’ integrated approach to managing the voyage chain was a huge factor for our company, which encourages team work, open dialogue and sharing of information,” said Georgios Asteros, Operations Director of Maran Tankers Management. “Having chartering, operations and post fixture in various offices across the ...

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Pangea and Connecta members team up to deliver project cargo shipment

Independent freight forwarders join forces and put their many years’ experience in projects and unusual cargo to good use with a recent shipment. A perfect coordination has enabled Philco International – French member of Connecta Airfreight Network – and Gevatrans Limited –member of Pangea Logistics Network – to accomplish the complex delivery of a transformer and its spare parts from France to its final destination in Agios Nikolaos Voiotias, Greece. The project was undertaken for General Electric France and Aluminium of Greece. Both agents collaborated to produce a detailed shipping ...

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UNCTAD signs MOU with MarineTraffic

Leading global ship tracking intelligence company MarineTraffic and the United Nations Conference on Trade & Development (UNCTAD) have signed a Memorandum of Understanding. Under the agreement, UNCTAD and MarineTraffic will be sharing information and data that will enable both organisations to enhance their services and allow for more accurate analysis of global trade and shipping trends. Geneva headquartered UNCTAD plays an important role in integrating developing countries into the world economy, with maritime related research, policy analysis and data collection an integral part of this process. MarineTraffic currently records 800 ...

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DryShips Inc. Announces Successful Delivery of Its Second Kamsarmax Drybulk Carrier

DryShips Inc., a diversified owner of ocean going cargo vessels, announced today that it has taken delivery of the previously announced 81,129 deadweight tons Kamsarmax drybulk carrier built in 2014. The vessel will be employed in the spot market. Since the beginning of this year, DryShips has taken delivery of five vessels and expects to take delivery of twelve more by the end of the year. The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk ...

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Russell Investments Group Ltd. Takes Position in Navios Maritime Acquisition Co. (NNA)

Russell Investments Group Ltd. bought a new position in Navios Maritime Acquisition Co. (NYSE:NNA) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 171,606 shares of the shipping company’s stock, valued at approximately $291,000. Russell Investments Group Ltd. owned about 0.11% of Navios Maritime Acquisition as of its most recent SEC filing. Separately, Acadian Asset Management LLC increased its stake in shares of Navios Maritime Acquisition by 10.9% in the third quarter. Acadian Asset Management LLC now owns 117,152 shares of the ...

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Aegean Marine Petroleum Network Inc. (ANW) Given Average Recommendation of “Strong Buy” by Analysts

Aegean Marine Petroleum Network Inc. (NYSE:ANW) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy rating. Aegean Marine Petroleum Network’s rating score has improved by 40.1% in the last 90 days as a result of various analysts’ upgrades and downgrades. Brokers have set a one year consensus price objective of $16.67 for the company and are expecting that the company will post $0.36 earnings per ...

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Newbuilding Bulkers’ Prices on the Rise, as Ship Owners Turn to Higher Spec Vessels

Newbuilding activity is on the rise for a number of reasons, but demand isn’t the sole reason of the recent price hikes, which have been noted from shipbuilders. According to the latest report from shipbroker Allied Shipbroking, “the combination of a push towards higher spec units by shipbuilders and the increased costs of construction have pushed for a significant rise in the price being quoted for dry bulk vessels. This is likely to continue further, especially given the fact that at the current prevailing price levels there are still a ...

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Navios Maritime Acquisition Corporation Reports Q1 revenue of $64.5 million

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results today for the first quarter ended March 31, 2017. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “For the first quarter of 2017, Navios Acquisition reported EBITDA of $37.4 million and Net income of $5.6 million. We also declared a dividend of $0.05 per share for the quarter, resulting in a dividend yield of approximately 12.0%.” Angeliki Frangou continued, “Our business model has two distinct characteristics. First, we seek long-term charters when ...

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Dryships Inc. (DRYS) Shows Improvement but the Outlook Is Not Encouraging

DryShips Inc. (NASDAQ:DRYS) continues to be one of the most controversial stocks on the market – a favorite of day traders and adrenaline junkies but a nightmare for retail investors. Recently, the dry bulker reported first-quarter results and has completed a R/S stock split with updated per share financial information in a May 12th press release. The long-term outlook for DryShips is negative and will probably continue to be negative so long as George Economou is in charge. However, speculators may see a glimmer of hope in a stabilizing Baltic ...

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Piraeus port has never witnessed such glory: PCT employee

Sarantos Zilakos, a young Greek electrical engineer, is leaving work each afternoon since 2011 with a warm smile on his face. He returns home to his wife and 17-month-old daughter proud, because he feels he is making his own contribution to a major project that has been praised internationally as a success story of bilateral cooperation between Greece and China. Zilakos, 31, is working at the department of cranes maintenance at Piraeus Container Terminal (PCT), a COSCO SHIPPING subsidiary which runs the site in the past seven years posting impressive ...

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Tanker Market Long-Hauls Supported By Venezuelan Oil, says Shipbroker

Venezuelan crude is supporting the tanker market, contrary to what one would believe. In its latest weekly report, shipbroker Gibson said that “back in 2012 the then president of Venezuela, Hugo Chavez stated that his government planned to more than double the country’s oil production to 6 million b/d by 2019. The plan included further diversification of its crude oil exports, with the aim to export 2.2 million b/d to Asia, 1.25 million b/d to Latin America and the Caribbean and a further 1.7 million b/d to North America and ...

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Piraeus port, shining star in modern maritime Silk Road

China COSCO SHIPPING’s investment in the Greek Port of Piraeus has been helping transform the port into a more important transport hub at the crossroads of Asia, Europe and Africa, making it a shining star in modern maritime Silk Road. Cargoes loaded and unloaded at the port totaled 3.74 million TEUs (20-foot equivalent units) in 2016, up from 880,000 TEUs in 2010, when COSCO Shipping’s subsidiary Piraeus Container Terminal (PCT) took over the management of Piers II and III. “All the teams worked together and we managed to provide first ...

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