Hellenic Shipping News Worldwide, Hellenic Shipping News

Variations of world economy's recovery straining tanker trades, mainly on European routes

Tue, 21 May 2013 00:00:26 GMT

Tanker trades appear to be rather vulnerable to the different rates of economic recovery around the world, which has led to major swings of oil product demand. According to the latest weekly report by Poten & Partners, "the “three speed” recovery – a phrase of choice of the IMF – refers to varying rates of economic

Samaras says Hellas can become China's gateway into Europe

Tue, 21 May 2013 00:00:24 GMT

Hellas can become China's gateway into Europe as well as the opposite said Prime Minister Antonis Samaras, speaking last night on the occasion of the Mechant Navy's Day and the European Day of Sea. The event was organized by the Union of Greek Shipowners and the Hellenic Chamber of Shipping.

Seanergy Maritime Holdings Corp. Announces Agreement to Sell Three Subsidiaries

Tue, 21 May 2013 00:00:23 GMT

Seanergy Maritime Holdings Corp. announced yesterday that its wholly-owned subsidiary,

Paragon Shipping Enters Into Credit Agreement With China Development Bank; Amends Its Credit Facility With Nordea

Tue, 21 May 2013 00:00:00 GMT

Paragon Shipping Inc., a global shipping transportation company specializing in drybulk cargoes, announced

India to provide support for dirty and clean tanker freight rates

Mon, 20 May 2013 00:00:25 GMT

In its latest weekly report, London-based shipbroker Gibson noted that India could soon emerge as a decisive factor in providing a boost in the tanker market. According to the shipbroker,"over the past ten years, India’s crude oil imports have more than doubled to accommodate the country’s growing population and expanding economy. This has driven

Hellas to buy 142 ships from China

Mon, 20 May 2013 00:00:21 GMT

Hellenic Shipping Minister Kostis Moussouroulis said here Saturday Hellenic shipowners have recently signed contracts to buy 142 new ships from Chinese shipbuilding companies.

Clean tanker market outlook seen clouded

Sun, 19 May 2013 00:00:25 GMT

In the tanker market, the month of April was unkind to tanker owners in all sectors, as both clean and dirty vessels saw a decline in market activity and freight rates. In the clean tanker market in particular, both East and West of Suez freight rates dropped in monthly terms by 4% and 5%, respectively said OPEC in its latest monthly report. The clean tanker market lacked activity in

Euroseas Ltd. Reports Results for the Quarter Ended March 31, 2013

Sun, 19 May 2013 00:00:24 GMT

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced Friday its results for the three month period ended March 31, 2013. First Quarter 2013 Highlights:

Paragon Shipping signs $69 mil. loan with China Development Bank

Sun, 19 May 2013 00:00:23 GMT

XRTC Business Consultants, Financial Advisor of China Development Bank in shipping finance, announces the signing of the loan agreement between China Development Bank and Paragon Shipping Inc. took place on May, 17th 2013 in Beijing during the auspices of Greek Prime Minister’s Antonis Samaras official visit in China, who was accompanied by a large

Goldenport Holdings Inc.: Interim Management Statement

Sun, 19 May 2013 00:00:17 GMT

Goldenport Holdings Inc., the international shipping company that owns and operates a fleet of container and dry bulk vessels announces today

Capt. Wei Met with Greek Prime Minister

Sat, 18 May 2013 00:00:00 GMT

On May 16th, Capt. Wei Jiafu, Chairman of COSCO Group met with the state-visiting Prime Minister of Greece

Samaras Seeks China Investment to Revive Battered Greek Economy

Sat, 18 May 2013 00:00:00 GMT

Greek Prime Minister Antonis Samaras promised to give the “red-carpet treatment” to foreign investors as he

Diana Containerships Inc. Announces Results of 2013 Annual Meeting of Shareholders

Sat, 18 May 2013 00:00:00 GMT

Diana Containerships Inc., a global shipping company specializing in owning and operating containerships,

Freight rate joy for clean tanker owners

Fri, 17 May 2013 00:00:27 GMT

Ship owners of clean product tankers have much to cheer for as of late, since most of rates on clean product routes, are at least trading at viable levels, despite the general low season that the tanker market is traditionally going through this time of year. According to the latest weekly report from shipbroker Intermodal, "most of the clean product routes for MR and LR vessels have

Navios Maritime Acquisition Announces Placement of 32,876,712 Shares of Common Stock at $3.65 per Share

Fri, 17 May 2013 00:00:00 GMT

Navios Maritime Acquisition Corporation announced yesterday the placement of a total of 32,876,712 shares of its

Greek ship finance shows an overall reduction in 2012 of -2.83% to $65.8 billion

Thu, 16 May 2013 00:00:26 GMT

Ship financing towards Hellenic ship owners showed a slight fall by the end of 2012, as the total loan portfolio held by both foreign and domestic banks stood at $65.78 billion, versus $67.694 billion at the end of 2011. According to the latest annual research from Petrofin Bank Research, the main reasons for this fall were the continuously depressed shipping markets, except offshore, the

Aegean Marine Petroleum Network Inc. Announces First Quarter 2013 Financial Results

Thu, 16 May 2013 00:00:25 GMT

Aegean Marine Petroleum Network Inc. yesterday announced financial and operating results for the first quarter ended March 31, 2013. First Quarter and Full Year Highlights: • Recorded sales volumes of 2,367,077 metric tons in Q1 2013. • Reported gross profit of $70.7 million.

Eagle Bulk Shipping Inc. Reports First Quarter 2013 Results

Thu, 16 May 2013 00:00:24 GMT

Eagle Bulk Shipping Inc. announced its results for the first quarter ended March 31, 2013. For the First Quarter: • Net reported income of $1.4 million or $0.08 per share (based on a weighted average of 16,966,070 diluted shares outstanding for the quarter), compared with net loss of $17.4 million, or $1.11 per share, for the comparable quarter of 2012.

Safe Bulkers, Inc. Reports First Quarter 2013 Results and Declares Quarterly Dividend

Thu, 16 May 2013 00:00:24 GMT

Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today

GasLog Ltd. Reports Financial Results for the Quarter Ended March 31, 2013

Thu, 16 May 2013 00:00:20 GMT

GasLog Ltd., an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, yesterday reported its

Goldenport Holdings: Sale of a Container Vessel

Thu, 16 May 2013 00:00:12 GMT

Goldenport Holdings Inc., the international shipping company that owns and operates a fleet of container and dry bulk vessels announces that it

Crude tanker market outlook looking rosier than one would hope for

Wed, 15 May 2013 00:00:27 GMT

According to a series of recent reports, the crude tanker market could be headed for a rebound. In a recent note, Mcquilling Services, as US-based consultant stated its optimism for the beleaguered segment, especially for larger crude and residual tankers. The basis for this view is rooted on massively reduced ordering activity and relatively robust exit profiles.

Ship owner Victoras Restis denies UANI's allegations on doing business with Iranian Regime

Wed, 15 May 2013 00:00:24 GMT

In remarks given after UANI's announcement regarding his implication with the Iranian Regime,

Attica Group: Blue Star Patmos awarded for its design

Wed, 15 May 2013 00:00:00 GMT

The Swedish shipping publication ShipPax Information, which offers specialist valuation services and undertakes

South Korean shipyards control lion's share of product tanker orderbook

Tue, 14 May 2013 00:00:27 GMT

With ship owners flocking into shipyards for a "piece of the pie" of the prosperous looking product tanker market, South Korean shipyards have taken the lion's share of the market. According to the latest report from London-based shipbroker Gibson, 86% of all tanker orders (ships above 25,000 dwt) during the past 16 months was for the

Clean tanker market fundamental forecasts not that rosy

Mon, 13 May 2013 00:00:25 GMT

During the course of the past few months, headlines in the tanker markets have been all about the positive trends in the clean tanker business, as opposed to the doom-and-gloom of the dirty tanker side of things. As a result, the product tanker orderbook has been swelling, with the focus been towards eco-design carriers. In its Tanker Market Outlook, issued at the start of 2013,

Tsakos Energy Navigation Limited Formally Closes $50 Million Offering

Mon, 13 May 2013 00:00:00 GMT

Tsakos Energy Navigation Limited, a leading product, crude and LNG tanker operator, yesterday announced that it

Shipping key to Cyprus' economic recovery

Mon, 13 May 2013 00:00:00 GMT

The Cyprus government’s wafer thin parliamentary win May 1 to ratify the island’s bailout terms show the

Tanker market unkind to ship owners during April

Sun, 12 May 2013 00:00:26 GMT

The latest OPEC monthly oil report noted that global fixtures in April declined by 2.4% compared with the previous month to average 17.44 mb/d. According to preliminary data, OPEC spot fixtures were stable from last month’s level to average12.81 mb/d. Middle East-to-East fixtures reported a decline of 11.1% or 0.30 mb/d from the previous month while Middle

Diana Shipping Inc. Announces Time Charter Contract for m/v Baltimore With RWE

Sun, 12 May 2013 00:00:18 GMT

Diana Shipping Inc. (DSX), a global shipping company specializing in the ownership and operation of dry bulk

Availability of oil in the long term is dubious, as oil prices could in fact retreat, helping the tanker market

Fri, 10 May 2013 00:00:26 GMT

The finite supply of oil could result in a highly unstable market environment if the oil market reaches its peak. According to a recent report from market analyst's Poten & Partners, "conservationists and industry have been at odds over the ability of crude oil to continue to serve as a primary conduit for meeting the energy needs of

Dry bulk ship owners keep building new vessels on the back of lower prices and improved market prospects

Thu, 9 May 2013 00:00:24 GMT

Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have increased the rate of their newbuilding orders in the sector, as they are looking for investment opportunities, trigerred by lower prices in various shipyards (close to historical lows), a factor which is difficult to be ignored by

Panamax vessels prove to be "stars of the month" for the dry bulk market during April

Wed, 8 May 2013 00:00:27 GMT

They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the heavy orderbook, Panamax dry bulk carriers, are among the most versatile ship types and this comes in handy when seasonal demand picks up. According to the latest monthly report from shipbroker Intermodal, April was "a very positive

Russian oil production supporting Aframax tanker sector

Tue, 7 May 2013 00:00:27 GMT

Aframax tanker owners have found support in the Russian oil region, in order to keep their vessels going said the latest weekly report from shipbroker Gibson. According to the report, "healthy Aframax income has been hard to come by in recent years. Even the once guaranteed income generators of the winter season – poor weather, ice class

Diana Containerships Inc. Announces the Sale of a Panamax Container Vessel, the M/V Maersk Malacca

Tue, 7 May 2013 00:00:00 GMT

Diana Containerships Inc. (DCIX), a global shipping company specializing in owning and operating containerships,

Ship owners are investing heavily in dry bulk carrier newbuildings once more: Is there any rationale?

Fri, 3 May 2013 00:00:26 GMT

Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that ship owners have made a significant come back to shipyards, investing once more in new orders. This has been the case so far in 2013 and one could become perplexed as to why owerns are

Navios Maritime Acquisition Corporation Reports Financial Results for the First Quarter Ended March 31, 2013

Fri, 3 May 2013 00:00:25 GMT

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results for the first quarter ended March 31, 2013. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition, stated, "I am pleased with our results, as we reported $28.0 million of EBITDA in the first quarter of 2013, reflecting 18% growth over the first quarter

NewLead Holdings Ltd. Announces Long-Term Time Charter for the Panamax Newlead Victoria

Fri, 3 May 2013 00:00:20 GMT

NewLead Holdings Ltd. announced that the Company entered into a five-year time charter

Star Bulk Carriers Corp. Announces Proposed $75.0 Million Backstopped Equity Rights Offering

Fri, 3 May 2013 00:00:17 GMT

Star Bulk Carriers Corp. announced that its Board of Directors (the "Board") has approved a

US turning into a major factor for product tanker increased demand

Thu, 2 May 2013 00:00:27 GMT

A combination of increased crude oil production and slumping refined product demand has shifted refinery marketing dynamics in the United States, resulting in a positive impact for product tankers and more specifically Medium-Range classed ones. According to a recent report from analysts Potern & Partners, "US distillate exports have increased from 1.01 million barrels per day

Genco Shipping & Trading Limited Announces First Quarter 2013 Financial Results

Thu, 2 May 2013 00:00:26 GMT

Genco Shipping & Trading Limited yesterday reported its financial results for the three months ended March 31, 2013. The following financial review discusses the results for the three months ended March 31, 2013 and March 31, 2012. First Quarter 2013 and Year-to-Date Highlights • Recorded net loss attributable to Genco for the first quarter

Baltic Trading Limited Announces First Quarter Financial Results

Thu, 2 May 2013 00:00:25 GMT

Baltic Trading Limited yesterday reported its financial results for the three months ended March 31, 2013. The following financial review discusses the results for the three months ended March 31, 2013 and March 31, 2012. First Quarter 2013 and Year-to-Date Highlights • Declared a $0.01 per share dividend payable on or about May

StealthGas Inc. Announces Closing of Its Public Offering of Common Stock

Wed, 1 May 2013 11:00:34 GMT

StealthGas Inc. announced yesterday the closing of its previously announced public offering of 10,000,000

12th Maritime Conference “NAVIGATOR 2013”

Wed, 1 May 2013 11:00:32 GMT

Navigator Shipping Consultants Ltd. proudly announces the organisation of the 12th Maritime Conference “NAVIGATOR 2013”.

Smaller ship sizes and MR product tankers are ship owners' newbuilding focus

Wed, 1 May 2013 00:00:27 GMT

The latest trend observed during the past week in terms of newbuilding ordering activity appears to be the shipowners' focus towards smaller sizes in dry and containers and further orders in the MR sector. According to the latest report from shipbroker Clarkson Hellas, "Handysize ordering activity has been relatively subdued so far

Capital Product Partners L.P. Announces First Quarter 2013 Financial Results

Wed, 1 May 2013 00:00:26 GMT

Capital Product Partners L.P., an international owner of modern tanker, dry bulk and container vessels yesterday released its financial results for the first quarter ended March 31, 2013. The Partnership's net income for the quarter ended March 31, 2013, was $25.0 million, including a $17.5 million gain from bargain purchase,

Recent Meetings Held by the Marshall Islands Registry

Wed, 1 May 2013 00:00:25 GMT

More than 190 delegates from the greater Piraeus shipping community joined representatives of the Republic of the Marshall Islands (RMI) Registry for a seminar to hear and discuss further guidance on the provisions of the Maritime Labour Convention, 2006 (MLC, 2006), Ballast Water Management requirements of the International Maritime

Greeks Bet Ship Rout Ending With Most Orders Since 2008

Wed, 1 May 2013 00:00:20 GMT

Greek shipping companies, the owners of one in six merchant vessels, are ordering the most new iron-ore carriers since 2008,

Danaos Corporation Reports First Quarter Results for the Period Ended March 31, 2013

Tue, 30 Apr 2013 00:00:25 GMT

Danaos Corporation, a leading international owner of containerships, yesterday reported unaudited results for the quarter ended March 31, 2013. Highlights for the First Quarter Ended March 31, 2013: • Operating revenues of $146.1 million for the three months ended March 31, 2013 compared to $134.2

Globus Maritime Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2012

Tue, 30 Apr 2013 00:00:24 GMT

Globus Maritime Limited, a dry bulk shipping company, yesterday reported its unaudited