The tanker market showed mixed performance during the month of December, according to OPEC’s latest monthly report. Dirty spot freight rates showed diverse movements in the last month of the year, falling on routes to Asia and out of the Middle East, while strengthening in the Atlantic Basin and Mediterranean. On the Middle East-to-East route, VLCC spot freight rates fell 18%, m-o-m, in December, while rates on the West Africa-to-East route dropped by 11%. In the Suezmax market, rates on the US Gulf Coast-to-Europe route partially regained the previous month’s ...

CMA D. ARGOUDELIS & CO S.A. proudly announces its inclusion in the inaugural Great Place to Work® “Best Workplaces™ in Professional Services & Consulting Hellas 2025” industry list. This prestigious recognition comes as a result of the company’s participation in the annual Trust Index© work environment survey and marks CMA’s fourth consecutive certification by Great Place to Work® Hellas. The distinction is based on the anonymous and confidential evaluation of CMA’s employees regarding their experiences in the workplace. With an impressive 89% score achieved under the “For All” methodology, this ...

In the midst of rapid changes in the regulatory framework, a multitude of technical challenges and ongoing technological developments, the exchange of knowledge, information and experience among shipping company executives, not only shields but significantly enhances the expertise of the maritime sector. In this environment, MARTECMA – Marine Technical Managers Association welcomed 2025 with its annual dinner and pita cutting, attended by representatives of maritime institutions, members of the academic and research community, as well as members and friends of the Association. The dinner, which took place at the Grand ...

The dry bulk market has been dubbed as quite “lackluster” with China’s economy still looking for a boost. In its latest weekly report, shipbroker Xclusiv said that “as we are just fifteen days away from the Chinese New Year seven-day public holiday (28 January 2025 to 4 February 2025), the dry freight market is quite “lackluster”. The unsuccessful attempts of the Chinese government to boost its economy and revive the real estate sector along with the general underperformance of the Chinese economy before the Lunar New Year have driven the ...

The first newbuilding orders of 2025 have been contracted, while activity in the second hand market remains brisk. In its latest weekly report, shipbroker Banchero Costa said that “in the dry market, the Chinese company Everbright Financial Leasing placed an order for 10 x Kamsarmax at Jiangsu Hantong Shipyard for an undisclosed price. Deliveries are scheduled to start in the second half of 2026 and end in the second half of 2030. The vessels are understood to on a long term charter to Cosco Shipping that will hold purchase options. ...

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 extended the time charter contract with Solebay Shipping Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Semirio. The gross charter rate is US$16,650 minus a 5% commission paid to third parties, for a period until minimum February 15, 2026 up to maximum April 15, 2026. The new charter period is expected to commence on February ...

The transition of shipping to clean energy sources and the decarbonization of the sector were at the core of the 4th session of the Hellenic Chamber of Shipping’s conference, titled “National Strategy for Decarbonization.” The discussion focused on crucial issues such as new technologies and alternative fuels, investments and financing, as well as the regulatory framework necessary for the sustainable development of shipping. The panel included Mr. Alex Papalexopoulos, President & CEO of ECCO International; Mr. Spyros Paschalis, Managing Director of SEA AHEAD MARINE; Mr. Georgios Anagnostou, Executive Director of ...

The crude tanker trade flows are expected to change over 2025, as a result of Trump’s tariffs. In its latest weekly report, Poten & Partners said that “President Trump, who will take office on January 20 of this year has indicated that he will use tariffs as an economic and foreign policy tool. The aim is to reduce the U.S. trade deficit and reshape international trade relationship as part of his “America First” economic policy. Prior to taking office, Mr. Trump has already suggested that 25% tariffs could be imposed ...

The tanker market is yet again caught in a “sea” of sanctions and changes. In its latest weekly report, shipbroker Gibson highlighted that “earlier this week, news emerged that one of the major port operators in China’s Shandong Province, Shandong Port Group (SPG), would ban the entry of vessels which appear on the United States OFAC sanctions list. Given the fact that independent refiners in the province are the largest receivers of Iranian, Venezuelan and Russian crude, the impact could be significant. Looking at 2024 trade to the ports within ...

Global seaborne crude oil loadings were mostly flat during 2024. In its latest weekly report, shipbroker Banchero Costa said that “after a positive 2023, when global crude oil loadings increased by +4.6% y-o-y, things got quieter in 2024. In Jan-Dec 2024, global crude oil loadings went up by a modest +0.4% yo-y to 2194.7 mln tonnes, excluding all cabotage trade, according to vessels tracking data from Refinitiv. Exports from the Arabian Gulf were down by -0.2% y-o-y to 873.3 mln t in Jan-Dec 2024, and accounted for 39.8% of global ...

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$6,300 per day for the first trip of the charter period and US$17,600 per day for the balance period of the time charter, in each case minus a 5.00% commission paid to third parties, ...

With the Chinese economy reeling under pressure, shipping is waiting for the government’s latest policies to take full effect and have a positive impact on demand. In its latest weekly report, shipbroker Xclusiv said that “as the world ushers in a new year, the global economy remains intertwined with the fortunes of China. While “Happy New Year” greetings resonate across borders, the focus in economic circles is keenly fixed on Beijing’s policy responses to its ongoing challenges, particularly in the property sector and their knock-on effects on commodity demand”. According ...

Dealmaking activity in the S&P shipping market were few and far between over the past couple of weeks, as the Holiday Season was prevalent. In its latest market report, shipbroker Xclusiv said that in the dry bulk market, “the first week of the year was quite sluggish in terms of sales in the dry S&P market. The Panamax “Mythos” – 74K Namura found new home to Vietnamese owners for USD 8.5 mills. Finally, the 15 years old scrubber fitted Supramax “CS Sonoma” – 57K/2010 Jiangsu Hantong changed hands for USD ...

Coal exports from South Africa have been declining over the past few years, despite a rising trend overall in the seaborne coal trade. In a recent weekly report, shipbroker Banchero Costa said that “global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels. In Jan-Sep 2024 the positive trend continued, with global coal loadings increasing by +2.1% y-o-y to 1012.0 mln t, from 991.2 mln t in the same period last year, based on vessel tracking data from AXS Marine. ...

Diana Shipping Inc., a global shipping company specializing in the ownership andbareboatcharter-in of dry bulk vessels, today announced the final results of itstenderoffer to purchase up to 15,000,000 shares of its common stock, par value ofUS$0.01 per share, at a price of US$2.00 per share, net to the seller in cash,less any applicable withholding taxes and without interest. The tender offerexpired at 5:00 P.M., Eastern Time, on December 31, 2024. Based on the final count by Computershare Trust Company, N.A., the depositaryfor the tender offer, the total number of shares ...