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Ships’ Demolition Activity Still Sub Par

2018 has started in relatively “slow mode” when it comes to the ever so crucial demolition activity, across all segments. While things in the dry bulk market are rosier than before, as a result of the freight market rally since the second half of 2017, they could very well turn sour, if scrapping dwindle down. From the opposite scale, the tanker market is looking for more scrapping if it’s to rebound from its low level. In its latest weekly report, shipbroker Clarkson Platou Hellas noted that “a false impression has ...

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Greece owns world’s most valuable fleet at 100 billion USD

Greek owners remain the dominant force in global shipping. The current value of their owned fleet stands at almost exactly $100bn, putting the country at the top of the table. The value is concentrated in the Tanker ($36bn), Bulker ($35.75bn), and LNG ($13.5) vessel types. Hellenic control of these markets stands at about 19% of the total worth of the fleets. The strong commitment of Greek owners to the global shipping markets looks unlikely to change as others, such as Germany, are liquidating assets. The trend in Chinese ownership is ...

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Capital Product Partners L.P. Looking for More Vessels Acquisitions at Favorable Prices

Capital Product Partners L.P., an international diversified shipping partnership, released its financial results for the fourth quarter ended December 31, 2017 and announced the completed acquisition of the M/T ‘Aristaios’, as well as the sale of the M/T ‘Aristotelis’ and the acquisition of the M/T ‘Anikitos’. The Partnership’s net income for the quarter ended December 31, 2017 was $6.8 million, compared with $13.7 million for the fourth quarter of 2016 and $9.7 million for the previous quarter ended September 30, 2017. Net income for the quarter ended December 31, 2017 ...

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Frangou Hails Navios Maritime Midstream Partners’ Solid Financial Results

Navios Maritime Midstream Partners L.P., an owner and operator of tanker vessels, reported its financial results for the fourth quarter and year ended December 31, 2017. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Midstream, stated, “We are pleased to report results for the fourth quarter and full year of 2017. For the fourth quarter of 2017, we reported $16.3 million of EBITDA and $4.3 million of net income. For the full year of 2017, we reported $57.9 million of EBITDA and $14.6 million of net income. We also ...

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Star Bulk Carriers (SBLK) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Star Bulk Carriers (NASDAQ:SBLK) from a buy rating to a hold rating in a 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 ...

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New orders still the norm in the dry bulk segment

Ship owners are still looking to modernize their dry bulk fleet in a bid to maximize earnings once the looming up cycle is well underway. In its latest weekly report, shipbroker Allied Shipbroking noted that “things seemed to have been slightly slower on the activity front reported this past week, although the gap seemed to have been present from the lack in activity outside the Dry Bulker and Tanker sectors. On the Dry Bulk side we were still seeing a fair amount of new orders coming to light with a ...

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Clean Tanker Market: New Bunker Specification Will Redefine Global Product Balances, Shifting Trade Flows and Tanker Demand

A clear correlation between low product oil stocks and increased opportunities for tanker seaborne trade hasn’t been the case recently, as trade flows are in flux. In its latest weekly market report, shipbroker Gibson attempts to highlight the changing dynamics in the product tanker segment. It noted that “high product stocks, which have been a feature of the market in the wake of strong refining runs in recent years, can be a key barrier to international products trade. Therefore, Gibson closely monitors developments in refined product inventories to forecast tanker ...

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Dry Bulk Market’s Recovery Hinges on Shipowners’ Prudence

A combination of solid demolition activity and slow steaming will be the key for a sustainable recovery in the dry bulk market, from 2018 onwards. This was among the key conclusions from Mr. Peter Sand, BIMCO’s Chief Shipping Analyst, during his presentation in the recent INTERCEM Shipping Forum 2018, held in Athens, Greece. The Baltic Dry Index (BDI) has recovered well since the second half of 2017 and 2018 could be the most crucial year in the dry bulk market’s recovery. According to BIMCO’s Chief Shipping Analyst the dry bulk ...

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Tanker Market: Will Oil Demand Growth in 2018 Turn Things Around?

With oil prices hitting new highs by the day, things are getting more complex in the tanker market. However, if some projections about oil demand growth prove to be real in 2018, tanker owners could be in for a positive surprise in terms of freight rates. In its latest weekly report, shipbroker Allied Shipbroking said that “brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the time of this publication, the former figure being the ...

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Dry Bulk: Shipowners Still Bullish on Market’s Recovery

This year is expected to keep validating the notion that the dry bulk market’s recovery is ongoing and will mark the further rise of freight rates to even more profitable levels, especially during the second half of 2018. so far this hasn’t been the case, as seasonal factors have prompted a small market correction, at least until recently, since the BDI index has started recovering part of the lost ground over the past few days. However, the sentiment among dry bulk owners is still bullish and this is clearly illustrated ...

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Capital Ship Management Corp. and Liberty One announce new Joint Venture: “Capital Liberty Invest” To Focus On Container Ships

Capital Ship Management Corp (‘Capital’) and Liberty One (‘Liberty’), announced the establishment of a joint venture under the name ‘Capital Liberty Invest’ (‘Capital Liberty’ or the ‘Joint Venture’) The new entity will combine the forces, excellent track record and reputation of Capital and Liberty with the aim to provide commercial and technical ship operating platforms across different shipping segments and sizes in the German shipping market. The Joint Venture will seek growth opportunities in the container segment, ranging from feeder to Post-Panamax vessels, as well as in the crude and ...

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Navios Maritime Partners L.P. Announces $22.0 million Acquisition of Two 2006-built Panamax Vessels

Navios Maritime Partners L.P. (“Navios Partners”) (NYSE: NMM), an international owner and operator of drybulk and container vessels, announced today that it has agreed to acquire two 2006-built Panamax vessels with a capacity of approximately 74,500 dwt each, for a total purchase price of $22.0 million. The vessels are expected to be delivered to Navios Partners’ owned fleet within Q1 2018. Based on the existing charters of the vessels ($9,375 net per day until May/November 2018 and $9,844 until March/August 2018, respectively) and the current rate environment (Clarksons’ 1-year time ...

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Piraeus Port Authority SA assigns to Huawei Technologies SA the project of modernizing its network Infrastructure

Piraeus Port Authority (PPA) SA and the Huawei Technologies SA are pleased to announce the contract conclusion for the modernization of the PPA network infrastructure. Huawei Technologies SA, after an international open tender, undertook the project of redesigning and replacement of the PPA’s network infrastructure. More specifically, Huawei Greece, using optimal international practices and utilizing the latest technology products and solutions of the Group, will replace the existing network infrastructure of PPA, aiming to satisfy the requirements of the biggest port of Greece. In the framework of this project, Huawei ...

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Piraeus Port: An increase of 19.13% was reported at the Car Terminal of PPA S.A.

A significant increase was recorded at the Car Terminal of PPA S.A. in 2017 as a total of 431.157 cars were transported compared to 361.912 in 2016, recording an increase of 19,13%. 331,832 were transhipment vehicles, which afterwards were transhipped to other ports in the Mediterranean, increased by 22,07% compared to 2016, emerging the port of Piraeus as one of the biggest terminals for car traffic across the Mediterranean. As the Chairman and CEO of PPA SA Captain Fu Chengqiu stated at the inauguration ceremony of the new offices at ...

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Ships’ Demolition Market Off to a Slow Start in 2018

2018 is dubbed to be a crucial year in the balancing of the global fleet growth, both in dry bulk and tanker markets, as ship owners will have to make some tough decisions with a view to benefiting in the long term. However, so far in the year, few deals are reportedly concluded. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the previous week ended with just a trickle of tonnage of entering the market with only one or two interesting units officially becoming available. However, there ...

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