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

In an interview with Hellenic Shipping News Worldwide, StealthGas’ CEO, Harry Vafias warned about the potential negative consequences of the flurry of newbuilding observed this year in the dry bulk market, while he says that the tanker market offers possible opportunities, but only if ship owners refrain from new orders as well. According to Mr. Vafias, the LPG market’s prospects are looking good as charterers appear bullish for the 2011-2012 period, as shown by recent deals in medium to long term charters. At the same time, he explains that volatility ...

With details about the recent deal signed between the Greek Prime Minister George Papandreou and his Chinese counterpart, Wen Jiabao about the setting up of a $5 billion shipping fund still scarce, Hellenic Shipping News Worldwide spoke with Mr. George Xiradakis, head of business consultants XRTC, who has an active role in the matter. China is expected to help finance the purchase of Chinese ships by Greek shipping companies with the creation of this fund, which according to Mr. Xiradakis it will be quite selective and biased towards more traditional ...

With the Handymax and Handysize shipping sector currently offering the best scenario in terms of supply/demand model, the dry bulk market looks set to remain at profitable levels for the years to come, despite the large oversupply of vessels. Of course, according to an interview to Hellenic Shipping News Worldwide by Mr. John Cotzias, from shipping consultants and brokers N.Cotzias Shipping Group, a company active in the sector since 1893, there are still a lot of dangers lurking in the waters of the shipping industry, especially to particular segments of ...

A. K. Suda, Inc. is a firm of naval architects and marine engineers providing design and engineering services to the maritime industry. It has designed some of the largest, most sophisticated, and most well-known liftboats in the world. The firm has probably designed the largest number of completed, large liftboats in the USA. Its latest creation involves a 320 3-legged liftboat for Semco shipyard. According to Mr. Ajay Suda, the vessel will, when completed receive ABS MODU Restricted Service certification as well as USCG Subchapter I-A/L. It is also believed ...

The Marshall Islands Registry is currently the fastest growing registry in the world with 14.3% growth this year, according to data from Clarksons. Hellenic ship owners have also come to reach first place in the registry, representing 25% of the overall Registry’s fleet. According to Mr. Theofilos Xenakoudis, Managing Director of Marshall Islands Registry in Piraeus this means that the Registry is now holding 12% of the Hellenic market , which is distributed among 47 flags, a significant achievement. “The Marshall Islands fleet continues to be among the youngest in ...

The dry bulk market is looking well after the crash it experienced during the whole of June and up until the middle of July. According to John Pachoulis, the President of the Hellenic Shipbrokers Association, the so called “œChina factor” was the main mobilizing force of the market. In an interview with Hellenic Shipping News Worldwide, Mr. Pachoulis estimates that the market could very well reach 3,500 points during the following weeks, with the possibility of reaching 4,000 points by the end of the year, should Chinese steel mills keep ...

During the past couple of months the dry bulk market has experienced a breakdown, as a result of China’s limited imports and an oversupply of dry bulk carriers, especially in the capesize and panamax front. As a result, the industry’s benchmark, the Baltic Dry Index (BDI) was plunging for 35 straight sessions, the longest in almost 15 years, surpassing even the dreadful days of late 2008. During this fall, the capesize market lost 70 percent of its value, before rebounding. Lately though, the market found some support and ended last ...

With the shipping industry still trying to find its path on the aftermath of the biggest financial crisis since the second World War, Drydocks World is looking to establish its place as one of the leading shipyards of the world. In an interview with Hellenic Shipping Worldwide, Group CEO, said that according to customers, cost effectiveness and innovation are the company’s main strengths. Since the beginning of the year, Drydocks World has seen a marked upswing in new business for repair, conversion and newbuilding orders. “Our shipyard in Dubai continues ...

The recently revised ISO 8217 standard means that bunker fuels and in particular their quality, will become stricter and more environmentally friendly. Hellenic Shipping News Worldwide today publishes an exclusive interview with Mr. Bill Stamatopoulos, Regional Manager of DNVPS (DNV Petroleum Services Rotterdam), who outlined the main changes and what these mean for bunker suppliers. Could you highlight the main changes that the new marine fuel specification brings to the market? IMO requested ISO to revise the ISO 8217 standard focusing on improving health, safety, efficient machinery operations and environmental ...

Ship owner Athanasios Samios, owner of Samios Shipping appears optimistic about demand for dry bulk shipping in the years to come. Speaking in an interview with Hellenic Shipping News Worldwide, he said that from a demand point of view, the period between 2010 and 2014 is expected to surpass even the so called “golden era” for the sector, recorded between 2004 and 2008. Still, he maintains that “the main question should be whether increased commodity demand is sufficient to employ the fleet. The supply side situation is fluid and subject ...

With activity in ship acquisitions picking up since late February and more new building orders being poured in shipyards around the globe, shipping finance is expected to play a crucial role for the renewal of the global fleet. As Mr. Ted Petropoulos, founder and joint managing director of Petrofin SA points out, in an interview with Hellenic Shipping News Worldwide, the annual loan runoff (via repayments and prepayments) of the total Hellenic shipfinance loan book is approx. 12% ““ 15% per annum i.e. approx. $8.0 ““ $10 bn. He goes ...

In what could be seen as an overly optimistic view, yet fully justified based on his arguments, Mr. George Grigoriadis, head of Finance & Research department at shipbroker G.Moundreas, said that the rapidly increasing coal and iron ore trade is bound to absorb any excess tonnage capacity, thus limiting fears of a looming oversupply of vessels. In an interview with Hellenic Shipping News Worldwide, he pointed out that newbuilding delayed deliveries and order cancellations should limit this year’s new additions to the global fleet at 900 vessels the most. Together ...

The increased role of developing countries in the dry bulk shipping market is here to stay, according to John Pachoulis, the President of the Hellenic Shipbrokers Association. In an interview with Hellenic Shipping News Worldwide, said that the recent rise of freight rates was something expected, as traditionally the market exhibits increased trade of cargoes. Still, he has warned that the market will still face increased fluctuations, at least until more countries rebound from the global economical crisis. During the previous weeks, we witnessed yet another rise of the dry ...

Mr Panos Kirnidis, ISB (Hellas) Managing Director and Regional Manager for ISB Management Ltd (IML) in Europe and Africa, tells Hellenic Shipping News Worldwide how the consultancy is seeking to expand the already broad range of services it can offer the maritime industry.Β  This year it is adding logistics to its extensive portfolio as it seeks to become the one-stop shop for ship owners and operators. Could you give some details about ISB’s presence in Hellas? ISB (Hellas) is part of the ISB Management Ltd (IML), established in New Jersey, ...

In the light of Seanergy Maritime’s acquisition of a 51% ownership interest in Maritime Capital Shipping Ltd., Hellenic Shipping News Worldwide hosts an interview with the company’s Chief Financial Officer, Christina Anagnostara, detailing the background of this new move. According to Miss Anagnostara, there is potential for new investment opportunities in the dry bulk market, which Seanergy is looking to capitalize, while maintaining a mixed fleet profile, in most ship types, which enables for increased added value for the company’s shareholders. Seanergy Maritime recently reached an agreement through a Letter ...