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Ship owners invest in MR Tankers During Second Quarter says Shipbroker

Demand for MR. Product Tankers has grown exponentially during the second quarter of the year, as owners sought to take advantage of low asset prices and positive prospects in terms of future earnings. In its latest weekly report, shipbroker Intermodal noted that at the end of the first quarter, MR tanker rates were at healthy levels and above OPEX-CAPEX levels which, coupled with low asset prices, created an entry for potential investors to achieve attractive margins. According to Intermodal, “after almost four months, the view of that insight appears to ...

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Diana Shipping inc. (NYSE:DSX) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Diana Shipping inc. from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $4.25 price objective on the shipping company’s stock. According to Zacks, “Diana Shipping Inc. is a global provider of shipping transportation services. They specialize in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. “ Get Diana Shipping inc. alerts: DSX has been the subject of several other ...

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Newbuildling activity slows down as summer lull nears

Orders for newbuildings appeared to be slowing down over the course of the past few days. In its latest weekly report, shipbroker Allied Shipbroking said that “moving now well into the summer period and with the typical summer loll showing its face once again, activity seemed to be waning on all fronts. There was a minimal amount of fresh orders that surfaced this week, while given the fact that most shipbuilders have already started to slowdown their marketing efforts, it is looking unlikely that we will see any dramatic amount ...

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SOFTimpact and Lemur Maritime sign partnership to deliver Cybersecurity solutions to the Greek shipping sector

SOFTimpact LTD a leading Maritime IT solutions specialist has today signed a strategic partnership agreement with Lemur Maritime based in Pireaus, Greece, to deliver cybersecurity solutions to the Greek shipping sector. SOFTimpact and Lemur will work together with their customers to address the “Cyber Threats” being faced on a daily basis. Services will include, Risk Assessments, Cyber Defence Planning, Phishing simulation, Penetration testing and Cyber education. Oil tanker managers and owners will be pleased to hear that the partnership will also help them address the newly introduced element 13 and ...

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Dryships Inc. Believes That Recently Filed Purported Class Action Lawsuit Is Without Merit And Intends To Defend Itself Vigorously

DryShips Inc., a diversified owner of ocean going cargo vessels, announced today that on July 14, 2017, a purported class action complaint was filed in the United States District Court for the Southern District of New York (No. 1:17-cv-05368(JFK)) by Maxime Hodges on behalf of himself and all others similarly situated against the Company and two of its executive officers. The complaint alleges that the Company and two of its executive officers violated Sections 10(b) and/or 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. DryShips ...

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ΙMO Ballast Water delay prompts revision of intermediate‐term tanker supply view

Older tankers have been given a new lease of life, meaning that the tanker market’s tonnage oversupply issues could take longer to resolve. In its latest weekly report, shipbroker Charles R. Weber noted that “in a development that caught many industry participants off guard, the IMO agreed last week to urging by a number of flag‐states to delay enforcement of Ballast Water Management Convention (BWMC) compliance for existing vessels from September 2017 to September 2019. Compliance for existing vessels calls for the fitting of Ballast Water Treatment systems from their ...

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The Tsakos Energy Navigation Ltd (NYSE:TNP) Given Consensus Rating Of “HOLD” By Analysts

A number of equities research analysts have recently commented on TNP shares. Maxim Group set a $7.00 price objective on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a research note on Sunday, May 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a research note on Tuesday, July 4th. BidaskClub raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. ...

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Shipping: Commodities’ Pricing Trends During First Half of 2017 a Mixed Bag Says Shipbroker

The shipping industry is directly linked with the prices of raw materials and commodities like oil, iron ore and coal, since they are the key ingredient to the products’ trading and as such, their transportation. As such, the evolution of pricing trends this year is key to understanding future demand for shipping services. In its latest weekly report, shipbroker Intermodal said that “having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodities acted during ...

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Tanker Market Sentiment Weakens in June

Dirty tanker market sentiment was generally weaker in June, as average spot freight rates dropped on all reported routes. On average, dirty tanker freight rates declined by 17% from the previous month and spot rates for all classes went down. These negative developments came as the market suffered from limited activity prior to the summer months, while the increase in vessel supply remained a main influence on freight rate movements. Clean spot freight rates had a mixed performance, with some routes showing higher freight rates; however, these were relatively minor. ...

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Capital Product Partners L.P. (NASDAQ:CPLP) Receives Buy Rating from UBS AG

UBS AG restated their buy rating on shares of Capital Product Partners L.P. (NASDAQ:CPLP) in a report released on Thursday morning, www.flashratings.com reports. The firm currently has a $4.50 target price on the shipping company’s stock. Several other brokerages have also recently weighed in on CPLP. Jefferies Group LLC reaffirmed a buy rating and issued a $5.00 price objective on shares of Capital Product Partners L.P. in a report on Friday, March 31st. Zacks Investment Research raised Capital Product Partners L.P. from a sell rating to a hold rating in ...

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Tanker Market: Low oil prices to be a “constant” moving forward says shipbroker

The low oil price environment which has been established over the past couple of years seems set to continue, according to the latest analysis from shipbroker Allied Shipbroking. In its latest weekly report it said that “it’s been another turbulent week for crude oil as the supply glut continues to overshadow the market causing many to wonder if a balance could be reached any time soon. With prices still persistently sticking to levels below US$ 50 per barrel and futures contracts still seeing further losses, it seems as though there ...

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Diana Containerships Inc. Announces Time Charter Contract for m/v Puelo with Maersk and Direct Continuation of Time Charter Contract for m/v Centaurus with CMA CGM

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Puelo, for a period of minimum eight (8) months to maximum eighteen (18) months. The gross charter rate is US$10,600 per day for the first eight (8) months of the charter period and US$12,000 per day for the balance period of the time charter, in each case minus a ...

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Diana Shipping Inc. Announces Time Charter Contract for m/v Alcyon with Hudson

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 Hudson Shipping Lines Incorporated for one of its Panamax dry bulk vessels, the m/v Alcyon. The gross charter rate is US$8,800 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 on July 21, 2017. The m/v Alcyon is ...

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Dryships Inc. Announces Successful Delivery Of Its Fourth Modern Newcastlemax Vessel

DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has taken delivery of its fourth previously announced 205,796 DWT Newcastlemax drybulk vessel built in 2015. The vessel will continue its fixed time charter contract with a major European based Capesize operator and an expected duration of 6 to 10 months. The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) ...

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Diana Shipping Inc. (DSX) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Diana Shipping Inc. (NYSE:DSX) from a hold rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $4.25 price target on the shipping company’s stock. According to Zacks, “Diana Shipping Inc. is a global provider of shipping transportation services. They specialize in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. “ DSX has been the subject of several other research reports. J P Morgan Chase & ...

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