The dry bulk market could be entering a more bearish period in the coming weeks. In its latest weekly report, shipbroker Allied Shipbroking said that “it is without question that the dry bulk sector has been on a gloomy path these past few months or so, with the main benchmark freight figures being under pressure and losing considerable ground. On the other hand, even during a booming market regime, it is still normal to expect to see time intervals in which the market corrects. The important question to answer is ...

Posidonia Exhibitions S.A., the organisers of the most prestigious shipping exhibition, released their Event Sustainability Report for this year’s, 27th Posidonia, which was not only the biggest but also the most sustainable, environmentally and socially, in the 50-year history of the event. Next to breaking all previous records in exhibition space, number of visitors and publicity, with 1,964 exhibitors from 88 countries and territories, 24 national pavilions, 28,892 visitors from 103 countries and a total of 40,950 participants including exhibitors, visitors and media representatives, Posidonia 2022 set even higher sustainability ...

The tanker market is expected to keep on growing over the course of the coming years, until we hit the so called peak oil demand, after which it should be a constant state of decline. In its latest weekly report, shipbroker Gibson said that “the current spike in global oil prices and a tight supply situation has put the issue of peak oil demand back into focus. Those who thought the Covid-19 demand destruction of 2020 would permanently dent world oil demand were quickly proven wrong as shown by the ...

Capital Product Partners L.P., an international owner of ocean-going vessels, today announced that its wholly owned subsidiary, CPLP Shipping Holdings PLC, has successfully priced its previously announced offering of €100 million of unsecured bonds (the “Bonds”) in Greece. The Bonds will be guaranteed by CPLP. The Bonds will mature in 2029 and will have a coupon of 4.40%, payable semi-annually. The offering is subject to customary closing conditions, and settlement is expected to occur on July 26, 2022. The trading of the Bonds on the Athens Exchange is expected to ...

The global seaborne coal market has grown yet again, over the course of the first half of 2022, following the significant rise of 2021. In its latest weekly report, shipbroker Banchero Costa said that “following a disastrous 2020, with the world hit by lockdowns and recession pretty much everywhere, global seaborne coal trade managed to rebound to some extent in 2021. In the full 12 months of 2021, global seaborne coal exports increased by +4.5% y-o-y to 1149 mln tonnes, from 1099 mln tonnes in 2020, according to vessels tracking ...

Ship owners in the tanker and dry bulk segments have been the most reluctant to commit to newbuilding orders, as opposed to their LNG and container shipping counterparts, where decisions are driven by different incentives. In its latest weekly report, shipbroker Intermodal said that “faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, many owners abstain from the newbuilding realm, especially in the wet and dry sector, while sticking to ageing fleets. During 1H22, fleet grew by 1.4% (est. 2.8% ...

Ship owners have been quite active in both the newbuilding and S&P markets over the past week. In its latest weekly report, shipbroker Allied said that “the Newbuilding market continued to hold a fair momentum for yet another week, given the relatively strong number of projects that came to light. As can be seen from the reported transactions, overall activity is skewed significantly towards the tanker sector this week, with a strong number of fresh orders (especially for Aframax units) being placed. Moreover, it should be mentioned, that we are ...

Τhe Port of Piraeus ranked 9th internationally on the Xinhua-Baltic International Shipping Centre Development (ISCD) Index. The ISCD Index provides an annual independent ranking of the performance of the world’s largest cities that offer port and shipping business services based on three primary dimensions -port infrastructure, shipping services and general environment- and 16 secondary indicators to evaluate the comprehensive performance of 43 cities worldwide. More specifically, the international index is based on a combination of metrics, including port factors such as cargo throughput, draught and container berth length; business factors ...

The algorithm underpinning Signal Ocean’s estimates of vessel CO2 emissions has been verified as meeting IMO guidelines by the independent classification society DNV. The calculation considers all aspects of any voyage as well as any route deviations already taken by any given available vessel. Other factors include the vessel’s size, age, speed, loading conditions, shipyard, use of scrubbers and the type of fuel used are also considered and represented in the algorithm’s output. The service is used by many in the industry including tanker, dry bulk and LPG shipowners and ...

The ship recycling market appears to be on the rebound after a turbulent few weeks. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “following the negative sentiment experienced over previous weeks, there seems to have been a slightly more upbeat feel to the market this week with indications that both the Indian and Bangladesh markets have not just stabilised but shown slight improvements. Bangladesh has shown some marginal increases, but reports suggest the Indian recycling market has developed the greater improvement in both requirements and price levels. ...

With inflationary pressures leading central banks around the world to increase rates, a global recession could very well be in the cards moving forward. In such a likelihood, demand for shipping is bound to take a hit, although, it should be noted that there are a number of factors which could help prevent this, or at least offset its impact. In its latest weekly report, shipbroker Allied said that “recession fears have started to mount once again as many market pundits speculate that the latest slump in commodity prices noted ...

United Maritime Corporation, an international shipping company specializing in worldwide seaborne transportation services, announced today the pricing of a public offering of 8,000,000 units at a price of $3.25 per unit. Each unit consists of one common share (or pre-funded warrant in lieu thereof) and one Class A warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before discounts and commissions and estimated offering expenses, are expected to be approximately $26.0 million. Each Class A warrant is immediately ...

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Aquavita International S.A., for one of its Capesize dry bulk vessels, the m/v Boston. The gross charter rate is US$20,500 per day, minus a 5% commission paid to third parties, for a period until minimum April 1, 2023 up to maximum May 31, 2023. The charter commenced on July 15, 2022. The m/v Boston was previously ...

Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, today announced that it has received written notification from The Nasdaq Stock Market LLC (“Nasdaq”) dated July 13, 2022, indicating that because the closing bid price of the Company’s common stock for 30 consecutive business days, from May 27, 2022 to July 12, 2022, was below the minimum $1.00 per share bid price requirement for continued listing on The Nasdaq Capital Market, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to Nasdaq ...

The tanker market is experiencing a structural shift in trading routes, which could have long-standing implications for ship owners. In its latest weekly report, shipbroker Gibson said that “back in March we looked at commercial stock developments for both crude and products in the key trading hubs. Whilst the invasion had just begun and therefore not yet had any impact on inventory levels; stocks were already trending towards historic lows. Now, after 5 months of war and resurgent oil demand, stocks have come under further pressure and conceivably, are expected ...