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

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 ...

ACA Shipping is on the expansion mode, as evidenced by the latest investments undertaken and illustrated in Mr. Angelopoulos’, CEO of the shipping company in his latest interview with “œHellenic Shipping News”. He declares the current period as proper for new investments at these low ship values. He also agrees with the notion that current rates are good enough to offer profitability to those owners that acquired vessels during this period at substantially lower values. ACA appears to be on the “offensive” lately, moving ahead with new ship investments. Could ...

Choosing Turkey as the market offering the most potential, Atlas International Shipchandling & Trading, is operating for 30 years in one of the most important sectors of the shipping industry, the one of ship supply. With thousands of ships transiting through Turkey’s ports and the Turkey’s Straits, it is more than obvious that ship supply servicesΒ  are nowadays an industry. Atlas is one of the pioneers in that field, being the first company to introduce transit warehousing in the local market. First of all, could you give us some information ...

A further decline of the global orderbook should be expected says Christina Anagnostara, Chief Financial Officer of publicly-traded Seanergy Maritime Corp. In her interview for “œHellenic Shipping News Worldwide”, she describes the main ingredients for a ship owner to fare better in today’s more than challenging financial environment, while predicts that dry bulk rates will firm as we move forward towards the third quarter of the year. Nevertheless, “some banks will likely have to manage an increasing number of non performing shipping loans and deal with foreclosed assets. As a ...

International Registries Inc., the group representing the Marshall Islands Registry and its Hellenic branch are powering through the economic crisis. With Hellenic ship owners representing 26% of the Marshall Islands fleet, being the second largest source of gross tonnage for the Registry, the local office in Piraeus increases its staff to further accommodate local owners and operators. Moreover, the company also established a liaison office in Istanbul, under the supervision of the Piraeus office. “We have seen a lot of development in Turkish shipping lately and are pleased to now ...

The latest developments in the dry bulk market is in everyone’s lips these days. Athanasios Samios, CEO of Samios Shipping is a ship owner that has escaped most of the weather storm, by selling off vessels before the market collapsed. He is now among the many looking for investment opportunities in the market, while closely monitoring the freight markets and their behavior, trying to discern signs of recovery. Hellenic Shipping News spoke with Mr. Samios on these issues, in an effort to see what smaller ship owners think of the ...

Innovative ideas come from all over the world. This time around, it’s the Middle East’s turn to provide a new service, poised to”¦ rock the boat. Marine BizTV is the first maritime television channel, aiming to bring together the global maritime industry. Hellenic Shipping News interviewed Mr. Sohan Roy, founder of this new service, who provided us with an insight on the background of this effort and the future steps it aims in doing. What is the inspiration behind starting Marine BizTV, the world’s only maritime television channel? Throughout my ...

Paragon Shipping, one of the Nasdaq-listed Hellenic shipping companies operating in dry bulk trade, provides Hellenic Shipping News and its readers some valuable insights on how a ship owner can hedge effectively against a downward market cycle, but also be positioned in order to take advantage of the inevitable investment opportunities rising in such occasions. Mr. Michael Bodouroglou, President and CEO of the company gave us a rather interesting interview, claiming that demand for dry bulk commodities will remain strong for the following years. “Asia accounts for about 65% of ...

In an exclusive interview with Hellenic Shipping News, Mr. Dick Welsh, Director of the Isle of Man shipping registry highlights the growth potential of the ISO 9000:2001 accredited flag. More than 60 merchant ships currently under construction in various shipyards around the globe ready to register under the Isle of Man’s flag during the next two years, the flag’s current fleet stands at 373 ships, totaling 9.4 million gross tons. Among the Hellenic shipowners, Restis-controlled Enterprises Shipping and Trading is the biggest client with 41 ships registered. Could you provide ...

In his third book, unique in Greek language, Mr. Dimitris Stamatopoulos reflects the need for an updated version after the success of the second edition (2004). The majority of Greek Shipping Offices and Vessels acquired the book-and it was-used as a reference manual as well as a comprehensive training tool. The topics covered are of interest and useful to both sea going and shore-based staff, technical as well as operational, practically starting from “square one”, thus catering to readers with a different background and experience. The 350 pages book covers ...

Being one the leading shipping agents in Hellas, the Venieris Group and Mr. Antonis Venieris in particular, is experiencing first-hand the problems that have occurred in the country’s two major ports (Piraeus and Thessalonica) from the beginning of the year, due to the port workers’ mobilizations. With that in mind, Mr. Venieris warns in his interview with Hellenic Shipping News that “should the mobilizations continue, the status of the ports will be seriously downgraded to feeder service only status. Further to that, the exporting and importing activity of Hellas will ...

France’s AXS Marine is constantly growing into a serious “œplayer” in the field of web based software and data housing to the maritime industry, bolstering a series of services to almost all entities of the shipping business. Hellenic Shipping News interviewed Mr. Fabrice Demichel, CEO of AXS Marine, who provided us with detailed insights on the way the company operates and is able to provide reliable data to all parties interested. Could you give us some details on AXS Marine’s background and profile? AXSmarine is a Paris based company, created ...

Bobby Mitropoulos, Managing Director of ship brokerage firm Weberseas, based in Piraeus, predicts that more cancellations of new building orders are due in the following months, as many of the smaller shipyards of South Korea and China will face problems, especially when it comes to refund guarantees and lack of supplies, like for instance ship engines. In his interview with Hellenic Shipping News, he says that the cancellation percentage will vary between 10% and 25%. Freight rates are expected to continue their upward trend at least for this year, but ...

Hellenic shipping fleet is bound to continue growing in size and numbers, breaking new records in the years to come, according to Mr. John Pachoulis, President of the Hellenic Shipbrokers Association. He also stresses out that this growth is channeled towards bigger and younger vessels, which means that the fleet renewal process is well underway.Β  Regarding the current level of the dry bulk freight market, he said that “the good market should smoothly continue with a small interval, just before and during the Olympic Games, when China is expected to ...