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Pyxis Tankers Announces Closing of Modern Dry Bulk Vessel Acquisition & Commercial Update

Pyxis Tankers Inc., an international shipping company, announced today that it has completed the acquisition of an 82,013 dwt dry bulk vessel built in 2015 at Jiangsu New Yangzi Shipbuilding. The $26.625 million purchase of the eco-efficient Kamsarmax, fitted with a ballast water treatment system and scrubber, was funded by a combination of secured bank debt of $14.5 million and cash on hand. The five year amortizing bank loan is priced at Term SOFR +2.35% and is secured by, among other things, the vessel. The vessel has been named the ...

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Tanker Newbuilding Orders Keep Rising

After years of minimal ordering, tanker newbuilding contracting seems to be back on the agenda for many ship owners. At least this has been the case over the course of the past few months. In its latest weekly report, shipbroker Allied Shipbroking said that “newbuilding orders continue at a modest pace, and tanker contracting remains strong and accounts for roughly a quarter of orders to date this year. The slow growth of the tanker fleet is particularly clear in the case of the VLCCs, with headlines discussing ‘the only delivery ...

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Greece’s Star Bulk to avoid Red Sea after attacks on its ships

Greece-headquartered Star Bulk will halt sailings through the Red Sea after Yemen’s Iran-aligned Houthis attacked two of its ships in recent days, the group’s CEO said. The Houthis have targeted commercial vessels with drones and missiles in the Red Sea since mid-November in what they describe as acts of solidarity with Palestinians against Israel in the Gaza war. “Going forward, we will not be passing the Suez Canal any more because we are obviously a target of the Houthis – being a public company registered in the U.S.,” Star Bulk ...

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Republic of the Marshall Islands Maritime Administrator awards Approval in Principle for Anemoi Rotor Sails

The Republic of the Marshall Islands (RMI) Maritime Administrator has awarded an Approval in Principle (AiP) to Anemoi Marine Technologies (Anemoi) for their Rotor Sail systems following a review of two bespoke configurations of the wind-propulsion technology. Rotor Sails, also known as “Flettner” rotors, are vertical cylinders that harness the renewable power of the wind to provide additional forward thrust to the vessel and thereby improves its energy efficiency, along with a reduction in carbon emissions. The RMI Maritime Administrator’s AiP was issued after undertaking a comprehensive review of a ...

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Star Bulk Carriers Corp. Reports Net Profit of $39.7 Million for the Fourth Quarter of 2023, and Declares Quarterly Dividend of $0.45 Per Share

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the fourth quarter of 2023. Unless otherwise indicated or unless the context requires otherwise, all references in this press release to “we,” “us,” “our,” or similar references, mean Star Bulk Carriers Corp. and, where applicable, its consolidated subsidiaries. Petros Pappas, Chief Executive Officer of Star Bulk, commented: “Star Bulk reported for the fourth quarter 2023 Net Income of $39.7 million, TCE Revenues of $191.9 million ...

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Danaos Corporation Reports 2023 Adjusted Net Income of $567.6 million

Danaos Corporation, one of the world’s largest independent owners of containerships, today reported unaudited results for the fourth quarter and the year ended December 31, 2023. For management purposes, the Company is organized based on operating revenues generated from containership vessels and dry bulk vessels and has two reporting segments: (1) a container vessels segment and (2) a dry bulk vessels segment. The Company measures segment performance based on net income. Items included in the applicable segment’s net income are directly allocated to the extent that the items are directly ...

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Demand for Ship Scrapping Increases, But Supply is Lacking

The ship recycling market is still lacking in activity, despite the fact that demand for ships is there. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “the current position of the ship recycling industry in India is unchanged from the previous weeks. The demand for vessels and scrap is very low, with a limited possibility of improvement in the next month, but the outlook is uncertain. Bangladesh is currently adopting a more vigilant stance, with recyclers awaiting a market correction before intensifying ...

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Navios Maritime Partners L.P. Reports 2023 Revenues of $1.3 Billion

Navios Maritime Partners L.P., an international owner and operator of dry cargo and tanker vessels, today reported its financial results for the fourth quarter and year ended December 31, 2023. Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the full year and fourth quarter of 2023. For the full year, we reported revenue of $1.3 billion and net income of $433.6 million. For the quarter, we reported revenue of $327.3 million and net income of $132.4 million. Earnings per common ...

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Laskaridis Shipping Co. Ltd. Enhances Bunkering process with NEREUS Platform from Nereus Digital Bunkers

Laskaridis Shipping Co. Ltd., a prominent player in the maritime industry, has taken a significant step towards digitalization by adopting the NEREUS platform, developed by the innovative Greek company, Nereus Digital Bunkers. Laskaridis Shipping Co. Ltd. has enhanced its marine fuel management from negotiation to post-fixture by incorporating Nereus Digital Bunkers’ NEREUS platform, an end-to-end solution streamlining the entire marine fuel procurement process. In this collaboration, the advanced industry experience of Laskaridis Shipping meets the technological innovation of Nereus Digital Bunkers. The NEREUS platform is set to simplify and expand ...

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Improved Dry Bulk Market Conditions Boost Safe Bulkers Fourth Quarter Results

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and twelve month periods ended December 31, 2023. The Board of Directors of the Company also declared a cash dividend of $0.05 per share of outstanding common stock. Management Commentary Dr. Loukas Barmparis, President of the Company, said: “The last quarter of the year we operated in an improved charter market environment compared to the previous quarter. The Company continues to maintain a strong capital structure while implementing its strategy of ...

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Safe Bulkers, Inc. Announces Sale of One Panamax Class Dry-bulk Vessel

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that it has entered into an agreement for the sale of MV Maritsa, a 2005 Japanese-built, Panamax class, dry-bulk vessel, the oldest vessel in its fleet, at a gross sale price of $12.2 million and a forward delivery date from April 2024 to May 2024. Dr. Loukas Barmparis, President of the Company commented: “We continue our strategy to selectively sell older vessels and replace them with newbuilds aiming to improve our fleet’s environmental performance and increase our ...

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EU’s Rise in Product Oil Imports from the US is Shifting Tanker Market Trade Flows

The product tanker market has had the biggest shift since the start of the Red Sea crisis. In its latest weekly report, shipbroker Intermodal said that “Houthi attacks on Red Sea have significantly disrupted the global oil markets, elevating security concerns and leading to increased shipping costs. These incidents have necessitated a reassessment of strategies for transporting oil, with notable implications for the global supply and pricing of diesel fuel. Amidst these tensions, European markets are proactively seeking to mitigate risks by improving logistical strategies and exploring alternative sources for ...

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Greece: Four dead in shooting at shipping company

Four people were killed — including the suspected perpetrator — in a shooting that happened at the offices of a shipping company in a town on the outskirts of the Greek capital Athens on Monday. Greek media reported that the shooter had killed two men and a woman before killing himself. Emergency services arrived on the scene at the European Navigation company’s offices. EKAM anti-terrorism forces were the first to enter the building after the incident, at around 11:15 a.m. (0915 GMT), according to Greek newspaper Proto Thema. What we ...

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Euploia Drydocks & Services Ltd has established an exclusive partnership with C.C.JENSEN to elevate vessel operations through the integration of CJC® Engine Lube Oil Filters

We are delightd to announce a new exclusive representation in the field of engine lube oil filtration systems with one of Europe’s most well-established companies, C.C.JENSEN A/S. We, as Euploia Drydocks and Services Ltd, aim to broaden our service offering by representing exclusively C.C.JENSEN in Greece, with the ultimate goal of providing a comprehensive range of quality services and products to our clients. In the ever-evolving landscape of maritime technology, the pursuit of efficiency, cost-effectiveness, and environmental sustainability has become paramount. Our exclusive collaboration with the esteemed principal, C.C.JENSEN, introduces ...

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One more important investment is implemented by the Piraeus Port Authority – Inauguration ceremony for the project “Completion of the Expansion of RoRo (Car Terminal) – Heracleous Port”

The inauguration ceremony for the project “Completion of the Expansion of RoRo – Heracleous Port” took place today at the Car Terminal of PPA S.A. It is a project with a total investment of €20 million which is included in the Mandatory Investments of PPA S.A., within the framework of the agreement with the Greek State. This project will further improve the competitiveness and attractiveness of the port as a vehicle transshipment hub in the Mediterranean. The expansion of the Car Terminal by approximately 40,000 m2 towards the northern side ...

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