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Why Diana Shipping Inc. Stock Moved Up 37% in January

Shares of dry bulk ocean shipper Diana Shipping (NYSE:DSX) surged 37% in the first month of the new year, rising from $3.02 at the start of January to end at $4.14 at its close. As the calendar moves into February, however, Diana’s shares are moving into reverse — down more than 2% since the month began. So what Why this is happening is not immediately clear, although there was a lot happening elsewhere in the shipping sector last month — everything from a buyout offer for tanker company DHT Holdings ...

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Tankers could see higher ton-mile cargoes this year says shipbroker

While oversupply is always a concern, tanker owners could be in for a pleasant surprise during 2017, as a number of factors are coming into play at the market, leading to higher ton-mile usage. In a recent weekly report, shipbroker Gibson noted that “when OPEC began planning for the now implemented supply cuts, one of the messages resonating was the need to protect Asia (the biggest buyer of OPEC crude) from production cuts and protect market share in the region. However, this raises the prospect that protecting this level of ...

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Globus Maritime Closes $5 Million Equity Private Placement and Conversion of Certain Outstanding Loans

Globus Maritime Limited, a dry bulk shipping company, announced today that on February 8, 2017 it signed a share and warrant purchase agreement providing for the issuance, for gross proceeds of $5 million, of an aggregate of 5 million shares of common stock, par value $0.004 per share and warrants to purchase 25 million shares of common stock at a price of $1.60 per share, in a private placement to a group of private investors. The Company intends to use the proceeds from the sale of common shares and warrants ...

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Navios Maritime Acquisition Corporation Posts Higher Than Expected Profits

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results today for the fourth quarter and the year ended December 31, 2016. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “We are pleased to announce our results for the full year of 2016, where Navios Acquisition reported EBITDA of $194.6 million and net income of $62.9 million. For the fourth quarter, Navios Acquisition reported EBITDA of $49.9 million and net income of $18.1 million. We also declared a dividend of $0.05 per ...

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Diana Containerships Inc. Announces Time Charter Contract for m/v March With Hapag-Lloyd

Diana Containerships Inc. (DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hapag-Lloyd AG, Hamburg, for one of its Post-Panamax container vessels, the m/v March, for a period of minimum nine (9) months to maximum fourteen (14) months. The gross charter rate is US$1 per day for the first 15 days of the charter period and US$6,850 per day for the balance period of the time charter, in each ...

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GasLog Ltd. closes Sale & Purchase Agreement with Gastrade

GasLog Ltd., an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, today announces that it has closed the sale and purchase agreement (“SPA”) to acquire a twenty percent (20%) shareholding in Gastrade S.A. (“Gastrade”). Gastrade is licensed to develop an independent natural gas system offshore Alexandroupolis in Northern Greece utilizing a floating storage and regasification unit (“FSRU”) along with other fixed infrastructure. Following an initial announcement on December 22, 2016, where GasLog announced it had entered into the SPA, all conditions required to close the SPA acquisition ...

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Trump, EU populism on a collision course with the global shipping industry

World trade growth could soon be faced with the repercussions of “naive” to say the least political decisions, as a wave of protectionism around the globe threatens to derail the positive fundamentals which have been slowly building up in many aspects of the freight market. In its latest weekly report, shipbroker Allied Shipbroking said that “the end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally coming to an end, while at the same time many ...

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Tanker ordering picks up, albeit at slow pace

Newbuildings are still hard to come by in today’s market. However, over the course of the past few weeks, a new trend has started emerging, which sees more ordering activity in the tanker segment. In its latest weekly report, Allied Shipbroking noted that “interest in the tanker sector has started to allow for a small inflow of new orders to creep in, with prices having also shown a slight correction from where they closed off at the end of 2016. That’s not to say that these orders are coming in ...

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DryShips’ Economou “Glad To Have To Put 2016 behind us” as Company Reports Financial Results

DryShips Inc., or DryShips or the Company, a diversified owner of ocean going cargo vessels, announced its unaudited financial and operating results for the quarter ended December 31, 2016. Updated Key Information as of February 7, 2017: Cash and cash equivalents about $243.0 million, (or $6.70 per share) Book value of Vessels, net about $95.3 million 3rd Party Loans about $16.5 million Sifnos Loan Facility balance about $142.9 million Sifnos Loan available liquidity about $57.1 million Number of Shares Outstanding 36,253,866 George Economou, Chairman and Chief Executive Officer of the ...

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Capital Ship Management Corp. Takes Delivery of M/V ‘Attikos’

Capital Ship Management Corp. took successful delivery today of the vessel M/V ‘Attikos’ (ex name ‘K Ambition’), a 178,928.8 dwt, Capesize bulk carrier, built in 2012 by Sundong Shipbuilding & Marine Engineering Co. Ltd, S.Korea. It is the last of three sister ships delivered in the beginning of 2017. Capital Ship Management Corp. is a distinguished oceangoing vessel operator, offering comprehensive services in every aspect of ship management, currently operating a fleet of 57 vessels with a total dwt of 6.06 million tons approx. The fleet under management includes the ...

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Maran Tankers Management Inc enters on 3 year service for STS DRILLS – STS STATUS – e-learning

DYNAMARINe team is proud to welcome Maran Tankers Management Inc in a 3 year contract service for STS Drills, STS STATUS and e-learning. All three services are associated with the Satellite options of the onlineSTS.net, that aim in enhancing the already established quality procedures of Maran Tankers Management Inc, which delivers a state of the art service in this sector. All three satellite services have been combined in a set which will cover our clients needs on STS internal training and assessment until 2020. The Enrolment of Maran Tankers Management ...

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Tanker market could see further changes on trade route patterns and ton-mile demand

It has long be touted as a potential “game-changer” for the crude tanker market and it now seems to be gaining traction. US oil exports in quantities enough to make a difference on the market, appear to be on the radar for ship owners, especially after the ascension of Donald Trump in office. In its latest weekly report, shipbroker Gibson noted that “hardly had the creases fallen out of the new drapes in the Oval Office, when the new president commenced overturning several key pieces of legislation implemented by his ...

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Why DryShips Inc.’s Stock Could Resume Its Volatility

DryShips ‘(NASDAQ: DRYS) stock has been excruciatingly volatile this year, plunging a stunning 85.9%, though it has more than doubled over the past five trading days. While some of that volatility has been fueled by daily gyrations as short-term traders enter and exit the stock, most of it is due to a boatload of press releases issued by the company since the start of the year. In fact, it sent out seven releases last month alone. However, its most important release could be coming up this Tuesday, Feb. 7, when ...

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Dry bulk market on “slowdown mode”

The expected negative effect of the Chinese New Year festivities has gripped the dry bulk market of late, with no expected rebound until at least the first couple of weeks of February have gone by. In its latest report, Irish Shipbrokers noted that “Chinese New Year festivities brought further pressure on dry bulk owners as January drew to a close, with the fresh supply of cargoes entering into the marketplace slowing gradually to leave freight levels across all segments in a downward trend. This prompted a 10% drop in the ...

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Best PSC Perfomance Award to the vessel Aegean Power of Arcadia Shipmanagement

DNV GL and Arcadia Shipmanagement Co. Ltd. have announced the award of “BEST PSC PERFORMANCE” to ARCADIA’s oil tanker AEGEAN POWER, for best PSC performance in DNV GL’s Region South East Europe and Middle East, with zero detentions and zero deficiencies over the entire life of the vessel, and for a period of 10 years. AEGEAN POWER was built by Samsung Heavy Industries at Korea under DNV class, with class assignment date 5th April 2007, and the vessel has remained in the DNV GL fleet ever since. The vessel is ...

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