Interorient Shipmanagement has decided to transition from traditional paper Oil Record Books (ORB) to using paperless, electronic ORBs through Prevention at Sea’s ɛ-ORB software application. The decision to implement electronic recording on the entire Interorient fleet was taken to support the broader goal of more effective ship operations and to achieve the many benefits that come from the retention of electronic records, such as a reduction in the administrative burden associated with manual paperwork and reporting. Switching to using the ε-ORB, developed by Prevention at Sea, in total replacement of ...

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha, for one of its Capesize dry bulk vessels, the m/v New Orleans. The gross charter rate is US$15,500 per day, minus a 5% commission paid to third parties, for a period until minimum January 25, 2022 up to maximum March 25, 2022. The charter commenced on December 3, 2020. The m/v New Orleans was chartered, ...

Shipping is eagerly awaiting for the impact of OPEC’s decision in the oil market and subsequently the crude tanker market. In its latest weekly report, shipbroker Gibson said that “a year ago, US crude production reached its highest level ever, averaging 12.9 million b/d in November 2019. At the time, many were convinced the sector was set for robust growth in the years to come. However, the global pandemic, a brief but fierce oil price war and an unprecedented negative WTI prices back in April changed all that. In May, ...

Globus Maritime Limited, a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the quarter and nine-month period ended September 30, 2020. As of September 30, 2020 the Total Assets of the Company were $76.4 million compared to $55.7 million as of December 31, 2019, an increase of 37%. As of September 30, 2020 and December 31, 2019, our cash and bank balances and bank deposits (including restricted cash) were $31.2 and $4.8 million respectively, an increase of 550%. As of September 30, 2020 the Total ...

Costamare Inc., an international owner and provider of containerships for charter, announced today availability of its first Environmental, Social, and Governance (“ESG”) report, for the year ended December 31, 2019 (the “ESG Report”). The ESG Report can be accessed on the Company’s website, www.costamare.com, in the “ESG” section. The shipping industry is subject to strict regulations imposed by governmental authorities and regulatory agencies relating to ESG. For many years, and irrespective of the applicable regulations at any given point in time, we have been taking measures and adopting strict internal ...

Ship brokers are anticipating more deal conclusions in the S&P market, in the weeks leading up to the Holiday season in the Northern Hemisphere. In its latest weekly report, shipbroker Intermodal said that “it has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner’s buying interest remains at firm levels and on some occasions we feel that asset values are softening as we are approaching the end of the year in this challenging environment. According to Mr. ...

A disruptive and painful 2020 is edging closer to its end and many parts of the shipping industry is already looking forward to a post-pandemic 2021 and what it has in store. In its latest weekly report, shipbroker Allied Shipbroking said that “being just a breath before the close of the year, it is hardly a surprise that many are already eyeing the prospects of what lay ahead for the coming year, hoping that we will enter into more stable and “normal” territories. According to Allied’s Research Analyst, Mr. Thomas ...

Newbuilding orders have continued to dwindle as ship owners continue to opt to add to their fleets, rather than commission more newbuildings. As a result, more deals are starting to materialize in the S&P market. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, the positive momentum in freight earnings and the current supply-demand fundamentals had as a result the intensification of interest among buyers as of late. This was another week with several new transactions emerging, with focus given once again on the ...

Thank you, Niko, both for the invitation and also the warm introduction. I’m delighted to be speaking at another Greek Economic Summit. This is my fifth Summit, and though we’re convening under very different circumstances this year, I want to congratulate you, Elias, and the team on a fantastically impressive lineup of speakers, which I think reflects very well the strong state of the U.S.-Greece relationship. I also want to thank the AmCham and the Hellenic Federation of Enterprises for their partnership during this unprecedented pandemic period. Despite the challenges, ...

Ship owners could find themselves in an advantageous position, should they wish to exploit the current market dynamics in the ships’ recycling segment. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the inevitable was always going to happen and last Saturday saw the collapse of the infamous Bangladeshi Cartel, the surprise however, was that it lasted for around two months which was longer than anticipated. It was first initiated by the local ship recycling association because they felt prices were increasing too quickly and acted before they ...

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results today for the third quarter and nine months ended September 30, 2020. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “I am pleased with our results for the third quarter of 2020. During the third quarter, Navios Acquisition reported revenue of $78.8 million and Adjusted EBITDA of $37.1 million. Navios Acquisition also declared a reduced quarterly dividend of $0.05 per share of common stock, representing an annual distribution of $0.20 per share.” ...

Diamond S Shipping Inc. announced the receipt of an incident report involving a kidnapping on one of its product tanker vessels, the Agisilaos, as it was approaching the port of Lome, Togo on November 29, 2020. The vessel is managed and crewed by Capital Ship Management Corp. (‘Capital’) who informed Diamond S about the kidnapping of four crew members. The Company confirms that there were 22 seafarers aboard when the attack occurred. There have been no reports of injuries at this time. All appropriate authorities have been notified and Diamond ...

LPG could have a role to play in the process of decarbonizing shipping. In its latest weekly report, shipbroker Intermodal said that “over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an affordable price, while it is promptly available across the globe. LPG is mainly sourced from natural gas and oil production operations, but as new technologies and techniques grow, it can be further produced from renewable sources. Currently, LPG is already a preferred marine ...

Following the creation of the first dry port in Sofia, Bulgaria and in the context of improving the connectivity of the Port of Thessaloniki, the first train from the Port of Thessaloniki to the dry port in Sofia, Bulgaria departed this morning, Friday, 27th of November 2020. The itinerary with a total duration of 16 hours, is the beginning of the pilot phase of this service, which will last until mid-January 2021 and during which the connection and the various services provided will be refined to perfection. Weekly departures and ...

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Artemis. The gross charter rate is US$10,250 per day, minus a 5% commission paid to third parties, for a period until minimum January 5, 2022 up to maximum March 30, 2022. The charter commenced earlier today. The m/v Artemis was chartered, as previously announced, ...