Jet fuel is poised to remain the fuel of choice for aviation, despite the fact that its growth demand is bound to diminish over time. In its latest weekly report, shipbroker Gibson said that “over the past 3 years jet fuel demand has taken a hammering, with the product by far the most impacted by the pandemic for obvious reasons. However, whilst jet fuel was hardest hit, it was also the fastest growing product group in 2022 and is predicted to continue that trend this year. Aviation will contribute 1.1mbd ...

Anemoi Marine Technologies, a leading UK-based developer of Rotor Sails for the global shipping industry, is enhancing its efforts to provide its award-winning Rotor Sail technology for ship owners, managers and charterers to install onboard vessels as they look to decarbonise their operations. The company will be showcasing these solutions at Nor-Shipping 2023, a prominent international maritime event held from 6-9 June at NOVA Spektrum, Lillestrøm, Norway. Attendees are invited to visit Anemoi at Stand D05-04 at the UK Pavillion. Anemoi offers a range of Rotor Sails, varying in height ...

Today, for the first time, the Port of Thessaloniki welcomed two cruise ships at the same time, in two different passenger terminals, as the 2nd Passenger Terminal, in a renovated building on Pier 2, commenced operations. Specifically, the “Europa 2” cruise ship of Hapag Lloyd Cruises berthed on quay 9, using the new Passenger Terminal, while the “Celestyal Crystal” cruise ship of Celestyal Cruises berthed on quays 4-8, using the “MAKEDONIA” Passenger Terminal, as it happens every Sunday. The opening of the 2nd Passenger Terminal, which is decorated with photos ...

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period until minimum October 1, 2024 up to maximum December 7, 2024. The charter is expected to commence on June 11, ...

Globus Maritime Limited, a dry bulk shipping company, today reported its unaudited consolidated operating and financial results for the quarter ended March 31, 2023. Revenue $8.6 million in Q1 2023 compared to $18.4 million in Q1 2022 Net income $2.6 million in Q1 2023 compared to $12.1 million in Q1 2022 Adjusted EBITDA $1.3 million in Q1 2023 compared to $13.8 million in Q1 2022 Time Charter Equivalent $8,780 per day in Q1 2023 compared to $23,643 per day in Q1 2022 Current Fleet Profile As of the date of ...

The product tanker market could see a boost over the coming months, as the US inventories need replenishing in a period when demand is expected to grow. In its latest weekly report, shipbroker Intermodal said that “the MR Atlantic time charter average experienced a significant increase of almost 150% last week, reaching $34,841 per day on Friday. This surge was primarily driven by the excess availability of shipping capacity in the Atlantic Market, particularly in the United States and Europe. One of the key factors contributing to this substantial leap ...

The second closed discussion held by NAVIGATOR SHIPPING CONSULTANTS in the framework of the 22nd NAVIGATOR 2023 – THE SHIPPING DECISION MAKERS FORUM, was successfully completed on Thursday 25th of May 2023, at Tatoi Club, under the theme #SeaTheChange. A total of 80 distinguished executives, from 40 companies, from across the entire spectrum of the shipping arena took part in the closed event, where they met and discussed key issues that concern and affect both the industry and our society. Danae Bezantakou, CEO of Navigator Shipping Consultants, welcomed the participants ...

The tanker market seems to be going through a structural change in cargo flows, with Russian oil now being, almost exclusively sold to China, India and Southeast Asia, while Europe’s imports have fallen to just 3%. In its latest weekly report, shipbroker Xclusiv said that “opening the conversation about seaborne oil trade, it must be taken into consideration the significant switch of the trade routes and the increase of tonne miles that Western sanctions have created. For example, before the Russian invasion of Ukraine, the EU and Asia were responsible ...

Petrofin Research© presents, for the 22nd year running, an overview and an in-depth analysis of the bank loan portfolios to Greek shipping, as of 31st December 2022. Petrofin wish to thank all participating banks for their steadfast support, without which this research would not have been possible. The portfolios show both the shipping loans outstanding, as well as loans committed but undrawn. The committed but undrawn loans may be viewed as an indication of each bank’s ship lending momentum and / or the extent of its involvement in newbuilding finance. ...

One of the largest shipping companies in Europe, DFDS, will alter their routes and slow down to reduce the risk of collisions with endangered sperm whales in the Eastern Mediterranean Sea. The planned changes should halve the risk of DFDS ships colliding with sperm whales in the areas west of the Peloponnese. The Danish-based company has taken this action in response to scientific advice from a coalition comprising the research and conservation groups IFAW (International Fund for Animal Welfare) OceanCare, the Pelagos Cetacean Research Institute and WWF Greece. Long-term data ...

MARPRO, the global specialist in recruitment in the shipping and maritime industry, has exciting news to share. Today, the company announced the opening of its new office in Athens, Greece. Headed up by the newly appointed Branch Manager Christopher Kontraros, MARPRO’s new office in Athens is up and running. The new office will focus on Search & Selection services while exploring further potential growth for the recruitment business. With his extensive industry knowledge and experience, Christopher is the perfect fit to lead the Athens office and drive success for MARPRO ...

Celebrating Greek shipping and unveiling the latest Inductees to the Greek Shipping Hall of Fame, this year’s Induction Ceremony & Dinner will take place at the beginning of next month and promises to be a unique occasion once again. The Greek Shipping Hall of Fame looks forward to welcoming a capacity audience on the evening of Wednesday 5 July at Megaron, The Athens Concert Hall when the Induction Ceremony & Dinner will take place as an outdoor dinner event for a capacity audience of 500 + guests. For the first ...

Newbuilding orders have kept growing, as owners are looking to book more berths, prior to them becoming unavailable. In its latest weekly report, shipbroker Allied said that it was “an active week in the newbuilding market, as owners face increasing pressure and prices to secure the earliest delivery slots. We have yet more MR tankers on order due for construction at Hyundai Mipo for around $8-9m less than the methanol DF vessels reported last week. MR contracting for the year so far is already over 80% of the total number ...

Marlink, the smart network and digital solutions company will support shipmanager Thenamaris in its digital business transformation with the integration of Starlink within its smart hybrid network. Thenamaris is an existing user of Marlink’s high throughput Sealink VSAT with L-Band backup in part of its fleet and plans to add new LEO services – to provide an additional layer of capability onboard its vessels – a concept Marlink has created as a next generation solution. Sealink NextGen combines GEO VSAT and MSS back-up with customers’ required mix of LEO or ...

TEN, Ltd (TEN) reported results (unaudited) for the quarter ended March 31, 2023. Q1 2023 SUMMARY RESULTS As TEN celebrates 30 years as a public entity, this quarter’s performance highlights the Company’s ability to achieve record profits by adapting its employment and investment policy to take advantage of market circumstances. As a result, in the first quarter of 2023, the positive industry fundamentals together with the trade imbalances the war in the Ukraine has created, continues to support a healthy tanker market and allowed TEN – despite operating fewer vessels ...