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Greek Shippers Threatened With Sanctions, Forced to Hand Over Iranian Oil Cargo to US, Report Says

Last year, the White House pledged to sanction any actor involved in purchase or transaction of Iranian oil, citing Tehran’s alleged support for militant groups in the region and its ballistic missile programme. Despite the threats, a number of countries still continued their oil business with Iran. Washington has forced Greece-based shipowners to surrender their cargo of Iranian fuel to the US government or face sanctions from the Trump administration, The Wall Street Journal reported, citing people familiar with the confiscation. The ships in question, reportedly owned by Greek Vienna ...

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VIKING delivers first of ambulance boat trio for Hellenic Coastguard

The large closed-cabin boat is the first in a series of special craft equipped with medical equipment to support the Hellenic National Centre for Emergency Care (EKAB) and the Hellenic Coastguard. VIKING Life-Saving Equipment has delivered its first VIKING Norsafe Munin-S1200 ambulance boat to the Hellenic Coastguard. Stationed in Naxos, the largest of the Cyclades island group, the vessel is the opening installment in a three-boat order that will change the face of regional healthcare provision. For many years, the Coastguard and EKAB have worked together to support patient transfer ...

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CISI member Dr. George Theocharides ACSI appointed Vice-Chairman of the Cyprus Securities and Exchange Commission

The Chartered Institute for Securities & Investment (CISI) is delighted to congratulate Dr. George Theocharides, ACSI, for his appointment as Vice-Chairman of the Cyprus Securities and Exchange Commission (CySEC). A CISI member, Dr. Theocharides has extensive work experience in the wider financial sector. Between September 2010 and July 2020, he was an Associate Finance Professor at the Cyprus International Institute of Management (CIIM) and Director of the MSc in Financial Service Programme. Prior to joining CIIM, he worked as an Assistant Professor of Finance at the Sungkyunkwan University of South ...

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Reports Results for the Six-Month Period and Quarter Ended June 30, 2020.

Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today its results for the three and six month period ended June 30, 2020. Second Quarter 2020 Financial Highlights: • Total net revenues of $13.5 million. Net income of $1.3 million and net income attributable to common shareholders (after a $0.2 million dividend on Series B Preferred Shares) of $1.1 million or $0.20 earnings per share basic and diluted. Adjusted net income attributable to common ...

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Diana Shipping Inc. Announces Time Charter Contract for m/v Melia with Ausca

Diana Shipping Inc. (NYSE: DSX), (the “Company”), 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 Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Melia. The gross charter rate is US$10,000 per day, plus US$500,000 gross ballast bonus, minus a 5% commission paid to third parties, for a period of about eight (8) months to maximum ten (10) months. The charter is expected ...

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New buildings M/Vs SOCRATES GRAECIA & ARISTOTELES GRAECIA Iin COVID-19 times

On 20th July 2020 the naming ceremonies of m/v’s Socrates Graecia and Aristoteles Graecia were held in Jingjiang, Jiangsu Province, China. The two newbuildings were the last two of a series of eight sister Kamsarmax bulk carriers (82,000 tons) built by Yangzijiang Shipbuilding Group Ltd. for Principals of Angelakos (Hellas) S.A. Socrates Graecia was baptized by Mrs. Zhao Yuan of Fudan University, Shanghai, and Aristoteles Graecia by Dr. Xiong Ying of the Faculty of World History, Shanghai Normal University. The ceremonies were attended by executives of the shipyard, business partners ...

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Skuld appoints Helen Yiacoumis as head of freight, demurrage and defence in Skuld Piraeus

Skuld, a leading marine insurance provider, today announces the appointment of Helen Yiacoumis as head of freight, demurrage and defence (FD&D) in Skuld Piraeus. Yiacoumis will join Skuld upon completion of her contractual obligations and will be based in Piraeus. Prior to joining Skuld, Yiacoumis spent almost 18 years at The North of England P&I Association Limited, where she joined as a solicitor and progressed to director in the Greek office. Yiacoumis is a qualified solicitor and has worked at Holman Fenwick Willan International between 1999 and 2001. Ståle Hansen, ...

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GasLog Partners LP Announces Chief Executive Officer and Directors Transition

GasLog Ltd. (“GasLog”) (NYSE: GLOG) and GasLog Partners LP (“GasLog Partners” or the “Partnership” and together with GasLog, the “Group”) (NYSE: GLOP) announced yesterday senior management and board of director changes. Following the Group’s decision to base its senior management in Greece, Andy Orekar has decided not to relocate and will therefore step down from his position as the Partnership’s Chief Executive Officer (“CEO”) on September 15, 2020. The board of directors of GasLog Partners (the “Board”) has appointed Paul Wogan, currently CEO and Director of GasLog, as CEO of ...

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Seanergy Maritime Holdings Corp. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2020

Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP) announced today its financial results for the second quarter and six months ended June 30, 2020. For the quarter ended June 30, 2020, the Company generated net revenues after voyage expenses of $4.7 million, a 41% decrease compared to the second quarter of 2019. The daily TCE of the fleet for the second quarter of 2020 was $5,424, down 40% from $9,104 in the second quarter of 2019 mainly due to the timing of the spot voyage fixtures in the second quarter ...

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GasLog Ltd. Reports Financial Results for the Three-Month Period Ended June 30, 2020

GasLog Ltd. and its subsidiaries (“GasLog”, “Group” or “Company”) (NYSE: GLOG), an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, yesterday reported its financial results for the quarter ended June 30, 2020. Highlights • Post quarter-end, refinanced in full the Group’s debt maturities due in 2021 with four new credit facilities representing a total of approximately $1.1 billion, strengthening the balance sheet and delivering $30.2 million of incremental liquidity to the Group. • Completed the sale of 14,400,000 shares of common equity through a private placement, including ...

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Danaos Corporation Reports Second Quarter and Half Year Results for the Period Ended June 30, 2020

Danaos Corporation (“Danaos”) (NYSE: DAC), one of the world’s largest independent owners of containerships, yesterday reported unaudited results for the period ended June 30, 2020. Highlights for the Second Quarter and Half Year Ended June 30, 2020: • Adjusted net income1 of $42.5 million, or $1.71 per share, for the three months ended June 30, 2020 compared to $34.3 million, or $2.24 per share, for the three months ended June 30, 2019, an increase of 23.9%. Adjusted net income1 of $75.8 million, or $3.06 per share, for the six months ...

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Greece reopens six ports to cruise ships

Greece on Saturday reopened six of its main ports to cruise ships for the first time in the coronavirus-shortened tourism season, but no ships are expected before three weeks. In a letter to the Cruise Lines International Association and three major cruise operators early this week, Tourism Minister Harry Theoharis said the ports of Piraeus in Athens, Rhodes, Iraklio, Volos, Corfu and Katakolo would accept passengers, state agency ANA reported. After docking at one of the six ports, cruise ships will be able to travel elsewhere in Greece, depending on ...

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Smaller Bulkers In High Demand

Ship owners in the dry bulk market have been adding more tonnage, as demand is picking up. In its latest weekly report, shipbroker Intermodal said that “the dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that approximately 66% of SnP transactions have ensued in the past two and a half months; 31%, 40% and 28% of which occurred in July (to date), June and May respectively. Contrarily, SnP transactions were at their lowest levels in March ...

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Capital Product Partners L.P. Announces Second Quarter 2020 Financial Results and Fleet Employment Update

Capital Product Partners L.P., an international owner of ocean-going vessels, Friday released its financial results for the second quarter ended June 30, 2020. Highlights Quarterly Revenues, Expenses and Net Income of $36.6 million, $22.7 million and $8.7 million respectively for the second quarter of 2020. Operating Surplus1 and Operating Surplus after the quarterly allocation to the capital reserve of $25.5 million and $16.2 million respectively. Successfully completed the refinancing of three 9,000 TEU container vessels. Extended period charters for three of our vessels and secured new employment for either the ...

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Navios Maritime Containers L.P. Announces $6.0 Million Unit Repurchase Program

Navios Maritime Containers L.P., a growth vehicle dedicated to the container sector, announced today that its Board of Directors has authorized a unit repurchase program for up to $6.0 million of the Partnership’s common units over a one-year period. Unit repurchases will be made from time-to-time for cash in open market transactions at prevailing market prices or in privately negotiated transactions. The timing and amount of repurchases under the program will be determined by Navios Containers’ management based upon market conditions and other factors. Repurchases may be made pursuant to ...

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