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Preventing Incidents Onboard: A Safety Equation

Merchant shipping is one of the most regulated industries, with strict international safety standards implemented by the IMO, and ILO organizations. Every year we witness new regulations and laws passed on, concerning ship safety, and environmental protection; however , there is one constant factor to this equation that regulation practices have not yet contained; the Human Element. Any reference to the human element requires an in depth understanding to the interactive relationship between brain functions, environment, and technology adding to the complexity of the equation. Elements in any system interact, ...

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LNG Demand Rise Bodes Well for the Future of LNG Shipping

Demand for LNG has continued to rise over the course of the past few months, which is shaping up to provide a long-term boost in LNG shipping as well. In a recent market update, ship owner Gaslog said that during the third quarter and post quarter end, “there has been continued momentum in the start-up of new LNG liquefaction capacity with the fourth train at Sabine Pass in the U.S. shipping its first commissioning cargoes in August 2017. Sabine Pass has now shipped approximately 200 cargoes since start up in ...

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Euroseas Ltd. Expects Dry Bulk Tonnage Supply Issues to Ease Further Moving Forward

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the three and nine month periods ended September 30, 2017. Third Quarter 2017 Highlights: Total net revenues of $11.1 million. Net loss of $4.8 million; net loss attributable to common shareholders (after a $0.5 million dividend on Series B Preferred Shares) of $5.3 million or $0.48 loss per share basic and diluted. Adjusted net loss attributable to common shareholders1 for the period was $0.061 ...

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Pyxis Tankers Inc. Says Third Quarter Results Reflect Product Tanker Market Improvement

Pyxis Tankers Inc., an emerging growth pure play product tanker company, announced unaudited results for the three and nine months ended September 30, 2017. Summary For the three months ended September 30, 2017, our time charter equivalent revenues were $5.2 million, which resulted in a net loss of $1.3 million, or a loss per share (basic and diluted) of $0.07, and our EBITDA (see “Non-GAAP Measures and Definitions” below) was $0.8 million. Valentios Valentis, our Chairman and CEO commented: “Our operating results for the third quarter of 2017 reflected a ...

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ABS Conducts First Hellenic Technical Committee Meeting: Committee leverages collective expertise to meet evolving shipping industry challenges and incorporate innovative technologies

ABS, a leading provider of classification and technical services to the marine and offshore industries, hosted the inaugural meeting of the Hellenic Technical Committee (HTC) at its state-of-the-art Global Ship Systems Center (GSSC). “The Hellenic shipping community possesses a wealth of engineering knowledge and we are honored to assemble such a credentialed Technical Committee,” said ABS Europe Division Senior Vice President Vassilios Kroustallis. “The HTC meetings inspire an ongoing dialogue with industry to improve and enhance ABS Rules and guidance globally.” The HTC includes more than 20 key technical professionals ...

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Tanker Market Suffers from Anti Corruption Campaign of Saudi Arabia

Oil markets have been feeling the pressure from the anti-corruption crackdown which has been going on since the past weekend in the Kingdom of Saudi Arabia. However, it seems that besides the oil market, tanker owners are bound to feel the pressure as well. In its latest weekly report, shipbroker Allied Shipbroking said that “at the start of the week oil prices were on a surge hitting their highest mark since July 2015 and Brent crude futures surpassing the US$ 62 per barrel mark. Many now see a further tightening ...

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Gener8 Maritime’s Net Loss at $67.5 million, But Expects that 75% of its Fleet Will Consist of ECO VLCC tankers by the end of 2017

Gener8 Maritime, Inc., a leading U.S.-based provider of international seaborne crude oil transportation services, today announced its financial results for the three months and nine months ended September 30, 2017. Highlights -Recorded net loss of $67.5 million, or $0.81 basic and diluted loss per share, for the three months ended September 30, 2017, compared to a net loss of $37.4 million, or $0.45 basic and diluted loss per share for the same period in the prior year. -Recorded adjusted net loss of $32.1 million, or $0.39 basic and diluted adjusted ...

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17th “NAVIGATOR 2017 – The Shipping Decision Makers Forum”Concludes Its Activities with Great Success

The Forum organized by Navigator Shipping Consultants was held for the 17th consecutive year and proved that it still remains one of the most popular events in the shipping industry worldwide. The event took place on Friday, November 3rd 2017 at the exceptional floating museum «Hellas Liberty». More than 500 high-ranking officials and executives of the Shipping community, ambassadors from 20 countries, members of the banking sector, representatives of major maritime organizations, academics, students and journalists were present at the NAVIGATOR 2017 – “The Shipping Decision Makers Forum”. Danae Bezantakou, CEO ...

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Pioneer Marine Inc. Is Bullish About Dry Bulk Market’s Future Prospects

Pioneer Marine Inc. and its subsidiaries a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the third quarter and nine months ended September 30, 2017. Financial Highlights: Time Charter equivalent (TCE) revenue $10.9 million for Q3 2017, increased by $3.1 million or 39% compared to Q3 2016; Similarly, TCE per day was increased by 30% to $7,498 per day for the same period. $32 million for the nine months in 2017, increased by $12.4 million or 63% compared to the same period ...

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Safe Bulkers, Inc. Agrees with Erma First to Install Ballast Water Treatment System

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that it has agreed with Erma First, a Greece based company, to install in all Company’s vessels a Ballast Water Treatment System (BWTS). The Ballast Water Management (BWM) Convention was adopted by the International Maritime Organization (IMO) and entered into force on 8 September 2017. The United States Environmental Protection Agency (EPA) had adopted similar regulation for ballast water treatment effective on January 1, 2016. Both organizations have provided certain extensions for BWTS installation for various reasons ...

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North P&I Club helps Greek members to meet challenges of today and tomorrow

North P&I Club welcomed around 150 shipowner members to the Yacht Club of Greece in Mikrolimano, Piraeus, on Thursday 2 November for its annual seminar. Presentations from North’s Greek team raised awareness around a raft of key issues and recent developments affecting the shipping sector – from environmental concerns due to greenhouse gas emissions and ballast water management through to sanctions, cyber risks, and a shortage of the right crew. Colin Gillespie and Ben Roberts at North provided a wide-ranging assessment of the current cyber security seascape, and why cyber ...

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Volatility is evident in the newbuilding market

Market sentiment maybe in a better place over the course of the past few months, both in the dry bulk and in the wet markets, but newbuilding ordering activity is still showing large spikes week-in week-out. In its latest weekly report, shipbroker Allied Shipbroking said that “the fluctuation in activity in the Newbuilding market keeps the market on its toes, with the scene changing dramatically even on weekly basis. After building a strong trajectory over the past couple of weeks, indicating that we have entered in a firm final quarter, ...

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Brightwell Payments Announces Konstantinos Machairas as New Vice President of Sales and Establish Presence in South Europe

Brightwell Payments, an international payments platform provider and prepaid card program manager with a market leading presence in the maritime sector, today announced the appointment of Konstantinos Machairas as Vice President of Sales, Southern Europe in order to establish its presence in Greece, Cyprus and the Mediterranean to support the company’s rapidly growing business in Europe and worldwide. “Konstantinos has a strong track record of growing B2B sales and commercial relationships in Southern Europe,” said Brightwell Payments CEO Mike Gaburo. “He offers a wealth of hands-on maritime sector sales and ...

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Tsakos Energy Navigation Ltd (TNP) Given Consensus Rating of “Buy” by Brokerages

Tsakos Energy Navigation Ltd has received an average recommendation of “Buy” from the ten analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.57. A number of analysts have issued reports on TNP shares. Jefferies Group LLC reissued a “buy” rating and issued a ...

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Seanergy Maritime Holdings Corp. Says Capesize Rates on its Vessels Increased by 149% to $11,678 on an Annual Basis

Seanergy Maritime Holdings Corp. announced its financial results for the third quarter and nine months of 2017. For the quarter ended September 30, 2017, the Company generated net revenues of $18.9 million, a 119% increase compared to the third quarter of 2016. For the nine month period ended September 30, 2017, net revenues were equal to $50.5 million, up 112% compared to the same period of 2016. As of September 30, 2017, stockholders’ equity was $41.4 million and cash and cash equivalents, including restricted cash, was $10.9 million. Stamatis Tsantanis, ...

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