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Author Archives: HellenicShippingNews

Dry bulk overcapacity looms but offset factors come in from emerging economies

Most analysts seem to agree that one the biggest hurdles lying ahead for a recovery of the dry bulk shipping sector is the looming oversupply of vessels, as evidenced by the huge global orderbook. In its latest feature interview, Hellenic Shipping News Worldwide, speaks with Mr. John Cotzias, from shipping consultants and brokers N.Cotzias Shipping Group, a company active in the sector since 1893. According to the company’s estimates, 2010 appears rather daunting for owners of Supramax and Capesize carriers, which face an overcapacity ratio of 115% and 88% respectively. ...

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Tanker demand to improve in 2010 as oil production picks up pace

Tanker demand is expected to improve this year, as world oil demand is expected to pick up pace. In an interview with Hellenic Shipping News Worldwide, George P. Los, Research Analyst with Charles R. Weber Company, Inc. says that demand growth for the year is forecasted to total 1.25 mb/d, while much will depend as well on the continued momentum of the rebound of the world economy, especially oil-intensive economies of the developing world. In terms of tonnage supply, one surprising conclusion is that the VLCCs and Panamaxes classes could ...

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Surviving the downturn in the shipping industry: GAC more optimistic about 2010

Quality of service providing, innovative solutions for laying up vessels and a diverse portfolio of services, able to cater all ship owners’ needs were among the key factors that helped propelled GAC Group forwards during 2009, despite the downturn that hit the shipping industry. In an interview with Hellenic Shipping News Worldwide, Mr. Bengt Ekstrand, the Group’s Vice President for the Asia Pacific area, said that the company managed to increase its shipping calls volume by 14% last year, while also appearing optimistic about 2010 as well. But, he also ...

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Dry bulk rates’ volatility to stay, but recovery is underway says Ion Varouxakis, head of Freeseas

In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why dry bulk rates will recover gradually, while volatility will remain. He states that the handysize sector appears to be the healthiest sector right now, mainly because of the low orderbook and the high number of older handies scrapped this year. Mr. Varouxakis founded Free Bulkers, the beginning of a single-vessel, self-financed entrepreneurial venture that led to FreeSeas’ founding and Nasdaq listing in 2005. Under Mr. Varouxakis’ leadership, ...

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Busy year for Marshall Islands Registry

Despite 2009 being one of the most challenging years for the shipping industry, the Marshall Islands Registry and more specifically International Registries Inc., which represents the registry and its Hellenic branch, have proven rather resilient. In an interview with Hellenic Shipping News, Mr. Theofilos Xenakoudis, Director of Marshall Islands Registry Piraeus, outlines the latest initiatives undertaken by the registry, especially in terms of the issue of piracy. The Registry closed its third quarter with 50.6 million gross tons and more than 2,060 registered vessels.Β  This reflects an 11% growth over ...

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Dry bulk market poised for healthy levels during 2010, says Mr. John Pachoulis.

Confident that the increase in world trade of commodities during the next couple of years will be enough to offset the large numbers of dry bulk new building deliveries appears Mr. John Pachoulis, President of the Hellenic Shipbrokers Association. In an interview with Hellenic Shipping News, he comments that the latest rise of the dry bulk freight rates is the result of the increase of Chinese iron ore imports, which is still a major driving force for the market. Still, as we head on to 2010, the market is expected ...

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Demand for second hand dry bulk carriers on healthy levels says Intermodal Shipbrokers

In an interview with Hellenic Shipping News, Theodoros Ntalakos of Intermodal Shipbrokers Co. states that we are in a healthy period for dry bulk vessels, as long as they are debt-free, which means higher profit margins for ship owners. Regarding the looming prospect of tonnage oversupply, Mr. Ntalakos says that although it was avoided during 2009, with some deliveries being delayed to 2010, it’s bound to happen some time next year. This will prompt more ship owners to scrap their older tonnage with a higher pace. Also, “with banks taking ...

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Hellenic Shipping News interviews Mr. Nikolas Pappadakis, Chairman of Intercargo

With the dry bulk industry faced with multiple challenges, a discussion with the head of Intercargo, the international maritime body representing dry bulk ship owners round the world, poses a great chance. Mr. Nikolas Pappadakis of AG Pappadakis & Co Ltd, Chairman of Intercargo highlights in an interview with Hellenic Shipping News, the issues that dry bulk owners are facing today, from environmental initiatives and safety at sea, to the challenges of the market with a potential tonnage oversupply, newbuilding cancellations, bankruptcies and piracy. Recently, Intercargo held meetings of Technical ...

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Hellenic Shipping News interviews Mr. Antonis Venieris, CEO of Veniers Group

With the port of Piraeus reopening its doors today, after workers’ agreed on Saturday to end their strike which lasted more than two weeks, problems (besides containers) have been piling up. Hellenic Shipping News interviews Mr. Antonis Veniers, CEO of Venieris Group, which is comprised of Venieris Maritime S.A., which is the agent of Senator Lines in Hellas, VenMar Shipping Agencies S.A. which is the agent of Hanjin Shipping, Venus Mare d.o.o. which is based in Koper, Slovenia and Cosmos Ocean Shipping and Forwarding Ltd, a freight forwarding company in ...

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Hellenic Shipping News interviews Mr. Babis Simantonis, head of Silver Maritime

Confident that second hand dry bulk acquisitions will reignite after last week’s surge of the Baltic Dry Index Mr. Babis Simantonis, head of Silver Maritime, said in an interview with Hellenic Shipping News, that the dry bulk market still has some room for an upswing. But he also warns that this rise could prove to be short-lived, at least until the vast numbers of new buildings start hitting the water with increased pace. Mr. Simantonis is also the Cashier of the Union of Shipowners of Short Sea Shipping (Former Mediterranean ...

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Hellenic Shipping News interviews Mr. Vaggelis Moutafis, head of Intertrade Marine

Being a member of the ship broking community in Hellas for many years, Vaggelis Moutafis, in charge of InterTrade Marine said in an interview with Hellenic Shipping News predicts a relative stability in the dry bulk market, provided that fundamental economic factors don’t change dramatically, as well as the balance between supply and demand remains relatively stable. But, as he mentions, current scrapping activity and new building orders’ cancellations activity aren’t enough to offset the expected pace of deliveries of new vessels. As for second hand ship values, Mr. Moutafis ...

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Hellenic Shipping News interviews Mr. Athanasios Samios, head of Samios Shipping

Tonnage oversupply will add further pressure into dry bulk rates as the year closes to an end says Mr. Athanasios Samios, Managing Director of Samios Shipping, one of Piraeus’ small, yet traditional dry bulk “œplayers”. In an interview with Hellenic Shipping News, Mr. Samios says that things will get worse before they get better in the dry bulk market, as the current fundamentals don’t seem to support a potential rebound. Samios Shipping has a history of more than 35 years in the shipping industry. During the previous years, the company ...

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Hellenic Shipping News interviews Mrs. Dimitra Michael, Man.Director of Posidonia Exhibitions

The biggest international biannual gathering of the maritime community, Posidonia Exhibition, is closing down to the final stages of its preparations. The event, projected to be held in June of 2010 in Athens, is expected to be a success, despite the international shipping crisis, which broke out just a few months after the previous fair in 2008. Hellenic Shipping News interviewed Mrs. Dimitra Michael, Managing Director of Posidonia Exhibitions. She kindly gave us some important insight into what should visitors and exhibitors expect from 2010’s event. Posidonia Events is getting ...

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Hellenic Shipping News interviews Mr. Michael Bodouroglou, Chairman and CEO of Paragon Shipping

Overcapacity is destined to weigh down in the Baltic Dry Index and consequently freights rates that dry bulk carriers receive for transporting commodities like iron ore and coal. According to Mr. Michael Bodouroglou, Chairman and CEO of NY-listed dry bulk shipping company Paragon Shipping, things will get worse before they get better. He said in an interview with Hellenic Shipping News that the imbalance between supply and demand will worsen over the next 18 months, unless some “dramatic rise in new order cancellations” occurs. Based on Paragon’s estimates 38% of ...

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Hellenic Shipping News interviews Mr. John Pachoulis, President of Hellenic Shipbrokers Association

Analysts are not feeling comfortable with the market as it is today, expecting a further drop, which will have a drastic affect in prices. Personally, I believe that the market will follow the elevator way with ups and downs and fluctuations depended on the parameters of the International trade and economy. Owners today, at least the ones having the financial facility, are following the tactic of patience, waiting to see the trends of the market in order to move.As without risk there are no profits, we can say that owners ...

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