Home / Shipping News / Hellenic Shipping News (page 4)

Hellenic Shipping News

Star Bulk Carriers (SBLK) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Star Bulk Carriers from a buy rating to a hold rating in a research report. According to Zacks, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under ...

Read More »

Dry Bulk Market: Recovery Prospects Not Threatened by NewBuilding Ordering… For Now

In terms of the dry bulk market’s full recovery, a lot hinges on the pace of newbuilding ordering activity, with many analysts fearing that a boom in fleet growth will set the industry on the wrong foot again. Is this the case though? In its latest weekly report, shipbroker Allied Shipbroking noted that “there has been considerable amount of concern expressed over the past couple of weeks with regards to the increasing level of new ordering being seen, with many now fearful of a repeat of what was witnessed back ...

Read More »

Dryships Inc. Announces Dividend For The Quarter Ended December 31, 2017 And Authorization Of An Up To $50 Million Stock Repurchase Program

DryShips Inc., a diversified owner of ocean going cargo vessels, announced that, in accordance with its previously announced dividend policy, the Company’s Board of Directors has declared a quarterly cash dividend with respect to the quarter ended December 31, 2017. With respect to the quarter ended December 31, 2017, the Board of Directors declared a cash dividend of $2.5 million payable on or about March 8, 2018 to common shareholders of record as of February 20, 2018. The dividend per share amount to be paid by the Company, based on ...

Read More »

Newbuilding Orders Piling Up in Dry Bulk Segment

Increasing confidence in the dry bulk market’s long term recovery has triggered an increasing number of newbuilding orders over the course of the past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “an interesting week for the Newbuilding market was due, mostly attributable to the Dry Bulk sector, which pulled in its weight this week dominating the reported activity tables this past week. Despite the fact that freight market is showing some slight softening, with the BDI having eased back from its early January levels, ...

Read More »

Dynagas LNG Partners (DLNG) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Dynagas LNG Partners (NYSE:DLNG) from a hold rating to a sell rating in a research note. According to Zacks, “Dynagas LNG Partners LP is focused on owning and operating LNG carriers that are employed on multi-year contracts with international energy companies. Dynagas LNG Partners LP is based in Glyfada, Greece. “ A number of other research firms have also weighed in on DLNG. Jefferies Group assumed coverage on shares of Dynagas LNG Partners in a report on Monday, December 18th. They issued a buy ...

Read More »

Tanker Market: Suezmax Segment In Worst Position Among Other Classes

Owners of Suezmax tankers are worse off than their counterparts with focus on other ship classes, said shipbroker Charles R. Weber in its latest weekly report. The shipbroker said that the Suezmax market will face a prolonged course towards recovery, as a result of a lack of enough phase-outs, compared to other tanker classes. According to the report, “a broad decline in Suezmax rates since the start of the year has seen average pushed earnings to sustained lows with average returns hovering under $3,000 /day throughout this past week. Representing ...

Read More »

New Vessels Boost Navios Maritime Partners’ Results as Dry Bulk Market Improves

Navios Maritime Partners L.P., an international owner and operator of container and drybulk vessels, reported its financial results for the fourth quarter and year ended December 31, 2017. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the fourth quarter and full year of 2017. For the fourth quarter, Navios Partners reported revenue of $59.3 million and Adjusted EBITDA of $37.1 million. For the full year, Navios Partners reported revenue of $211.7 million and Adjusted EBITDA of $133.1 million.” Angeliki Frangou ...

Read More »

Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Selina with BG Shipping

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 agreed to extend the present time charter contract with BG Shipping Co., Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Selina. The gross charter rate is US$12,250 per day, minus a 5% commission paid to third parties, for a period of minimum sixteen (16) months to maximum nineteen (19) months. The new charter period is expected to commence tomorrow. The ...

Read More »

Star Bulk Carriers (SBLK) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of Star Bulk Carriers from a hold rating to a sell rating in a research report sent to investors. A number of other equities research analysts have also recently weighed in on SBLK. Zacks Investment Research cut shares of Star Bulk Carriers from a buy rating to a hold rating in a research report on Friday, January 26th. Jefferies Group reiterated a buy rating and set a $15.00 price target on shares of Star Bulk Carriers in a research report on Thursday, October 19th. Finally, Stifel Nicolaus ...

Read More »

Tanker Freight Rates At Below Operating Expenses Despite Seasonality Factor

Although hardly a surprise, as most market delegates and shipowners were expecting a weak tanker market anyhow, January has proven to be quite the disappointment for tanker owners. Freight rates have fallen at below operating expenses rates, despite the fact that this part of the year should be a positive seasonality factor. In its latest weekly report, shipbroker Gibson said that “for quite some time the consensus in the crude tanker market has been that 2018 will be a disappointing year in terms of industry earnings. However, the extreme weakness ...

Read More »

Döhle & Costamare JV ‘Blue Net Chartering’ Operational

The Greek- German joint venture between Peter Döhle and Costamare, which was agreed last year, officially went into operation on Thursday. A spokesperson for Peter Döhle confirmed that the joint venture ‘Blue Net Chartering’ headquartered at Hamburg has been completed. Blue Net Chartering will exclusively serve the container ship fleets operated by Peter Döhle and Costamare and also third-party vessels. It is currently a total of 220 units with parking capacities totaling 1.1 million TEU, says Döhle. The focus is on medium and very large vessels up to 14,000 TEU. ...

Read More »

LNG Shipping’s Prospects Positive says GasLog after Rates Were 82% Higher on an Annual Basis

Rates for LNG tankers picked up considerably during the final part of 2017. In the LNG shipping spot market, TFDE headline rates, as reported by Clarksons, rose through the end of the fourth quarter, reaching a peak of $82,000 per day in late December, an increase of 82% from the same time in 2016. According to a market outlook by shipowner GasLog LNG Partners this week, “this improvement in rates, combined with only ten newbuild orders last year, gives us confidence in the sustainability of the current market recovery. While ...

Read More »

Dry Bulk: Is a More Cyclical Market with Smaller Volatility Back In Play?

Ever since the collapse of Lehman Brothers almost a decade ago and the collapse of world trade which followed, the shipping industry has been plagued with a recurring theme: intense volatility of the freight market, with very steep ups and downs in what seems like a rollercoaster ride, which the industry hasn’t been accustomed to. However, as the downward cycle seems to end, could the freight market be set for a return to normalcy again? In its latest weekly report, shipbroker Intermodal said that “days before the celebrations of the ...

Read More »

Dorian LPG Says Modern Ships Earned Premium Rates in 2017: Announces Financing Transaction for the Concorde

Dorian LPG Ltd., a leading owner and operator of modern very large gas carriers (“VLGCs”), yesterday reported its financial results for the three months ended December 31, 2017. Highlights for the Third Quarter Fiscal Year 2018 Revenues of $44.5 million and Daily Time Charter Equivalent (“TCE”)(1) rate for our fleet of $22,833 for the three months ended December 31, 2017, compared to revenues of $35.7 million and TCE rate of $17,796 for the three months ended December 31, 2016. Net income of $1.7 million, or $0.03 earnings/(loss) per basic and ...

Read More »

Diana Containerships Inc. Announces Direct Continuation of Time Charter Contract for m/v Sagitta with Hapag-Lloyd

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Hapag-Lloyd AG, Hamburg, for one of its Panamax container vessels, the m/v Sagitta. The gross charter rate is US$8,400 per day, minus a 1.25% commission paid to third parties, for a period of minimum three (3) months to maximum five (5) months. The new charter period will commence on February 15, 2018. The “Sagitta” is a 3,426 TEU ...

Read More »

Recent Videos

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