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LNG Newbuildings The “Darlings” of the Market

While 2019 has proven to be quite a lackluster year for newbuilding orders, some sectors have managed to excel, with the most promiment example being the LNG shipping segment, but also the dry bulk one. In its latest weekly report, shipbroker Banchero Costa said that “the interests around LNG carriers persists with additional options being declared in South Korea. Japanese owners Mitsui confirmed and additional 174,000 cbm at Daewoo for dely June 2021, the same did Minerva who increased its commitment to with the fifth unit, at Samsung for delivery ...

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WISTA Med 2019

Key players from the Greek and international shipping community will come together for the WISTA MED 2019 Conference at the Costa Navarino Hotel in Pylos, from 23-25 May. The theme of the conference – “Turbulence or fair winds in the Med” – will be discussed and analyzed by four panels of industry experts. Delegates will be welcomed by Angie Hartmann, on behalf of the Board of WISTA Hellas. Held every two years, the WISTA MED Conference is a valuable platform that promotes networking and collaboration between the maritime professionals in ...

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Tanker Market: India crude oil imports outlook amid U.S. Sanctions

The Iranian sanctions is yet another factor to be considered in the tanker market these days. The repercussions are far and beyond, especially after the latest move by the US to end all waivers, in an attempt to achieve its goal of zero Iranian oil exports. Among the nations most affected is India. In a recent weekly report, shipbroker Banchero Costa started its analysis on the matter, by noting that “Govt has put in place a robust plan for adequate supply of crude oil to Indian refineries. There will be ...

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Tanker Markets In Geopolitical Peril

Tanker owners are having to cope with one of the most tense and complex geopolitical situations of recent times, when it comes to trading their fleet of vessels. Needless to say that uncertainty is prevailing at the moment. In its latest weekly report, shipbroker Gibson said that “not in a long time has the geopolitical situation in many of the worlds largest crude providers been so precarious. At the time of writing, many are still trying to understand the rationale behind the sabotage of vessels at Fujairah and drone attacks ...

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Tanker Market In April Still in Decline

Average dirty tanker spot freight rates in April continued to decline from the high levels seen at the end of last year. Fixtures were lower on seasonal factors with the start of refinery maintenance particularly pronounced this year as refiners gear up for the implementation of IMO 2020. Fleet growth weighed on the market as healthy freight rates in recent quarters discouraged scrapping and deliveries were concentrated in the 1H19, boosting availability. In April, dirty tanker freight rates for VLCCs and Aframax fell on average by 30% and 13%, respectively ...

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Euronav selects SQLearn’s e-learning courses and system for its training needs

SQLearn proudly announces its collaboration with the large tanker company Euronav, providing e-learning courses from its Dolphin Library and Dolphin System for the EURONAV Ship Management Hellas & SAS operating fleet of 52 vessels. “In our continuous effort to provide our crew with specialized training, we at Euronav are pleased to select SQLearn as one of our providers. Through its innovative suite of e-learning products and services, SQLearn adds to our ability of providing appropriate training to our staff and to operate in accordance with the highest standards of safety”, ...

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Oil Tanker Demand Solid, But Trade Tensions Could Change That

As if tanker owners needed another “headache” after a torrid couple of years, shipbrokers now warn that the latest trade tensions could offset the anticipated market rebound during the second half of 2019. In its latest weekly report, shipbroker Allied Shipbroking said that “taking into consideration the much-touted market improvement that is expected during the latter half of the year as part of the previously discussed IMO 2020 implications, questions are brewing over the current status of the crude oil market. Since the start of the year, oil prices have ...

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YES to Sea Tourism Forum 2019

YES Forum says YES to Sea Tourism on Wednesday, 29 May 2019, during the International Conference & Exhibition of the Posidonia Sea Tourism Forum 2019, at Domotel Kastri Conference Center – Kifissia, from 14.00 to 19.00. YES  Forum  is the leading platform for an open dialogue within the Greek Shipping and Sea Tourism Industries among principals, executives, university students, recent graduates and young executives. The main aim of YES Forum is the creation of a comprehensive connection and understanding between young people and our Greek shipping and tourism history. YES ...

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DryShips Inc. Reports First Quarter Net Income of $1.5 Million

DryShips Inc., a diversified owner and operator of ocean going cargo vessels, today announced its unaudited financial and operating results for the quarter ended March 31, 2019. First Quarter 2019 Financial Highlights • For the first quarter of 2019, the Company reported net income of $1.5 million, or 1.67 cents basic and diluted earnings per share. Included in the first quarter of 2019 results are: — Vessel dry-docking costs of $0.7 million, or 0.78 cents per share Excluding the above, the Company’s net results would have amounted to a net ...

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GasLog Ltd. Announces the Closing of its Public Offering of 8.875% Senior Notes Due 2022 At a Price of 102.5% of Par

GasLog Ltd., an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, announced today the closing of its public offering of an additional $75.0 million aggregate principal amount of its 8.875% Senior Notes due 2022 (the “Notes”). The Notes were an issuance of further notes of the same series under the indenture pursuant to which the Company previously issued $250.0 million aggregate principal amount of the Company’s 8.875% Senior Notes due 2022 (the “Existing Notes”). The Notes were issued at 102.5% of the principal amount, plus accrued interest ...

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Over 600 shipping professionals attend 26th Anniversary Party for Ince & Co Greece

On the 9th May, Ince & Co Greece celebrated its 26th year in Piraeus at the forefront of the shipping and maritime sector with a party at the historic Four Seasons Astir Palace Hotel on the Athens Riviera. Over 600 esteemed guests from Greece and abroad turned out to mark the occasion, including shipowners, insurers, bankers and ship brokers. After welcome drinks and a short speech from Paul Herring, Head of Ince Greece, guests were treated to cocktails, canapes, freshly grilled seafood and loukamades on the terrace overlooking the swimming ...

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Ship Recycling Activity Grinds to a Near Halt

Perhaps rather ominously, the ship recycling activity has gradually slowed down to a near halt over the course of the past few days. This development couldn’t have come at a worst time, given that the freight markets could use a little jolt, through a tonnage supply reduction. In its latest weekly report, shipbroker Clarkson Platou Hellas commented that “several factors are currently against the marketplace at this current time resulting in a lull in activity. With the commencement of Ramadan, approaching monsoons, elections in India and the forthcoming budgets in ...

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Greek, Chinese experts discuss Belt and Road

Experts in Greece praised the growth of the Piraeus port under the China-proposed Belt and Road Initiative (BRI) during a two-day seminar here. “Greece historically has been a trading state and has a huge maritime industry,” Athanasios Platias, a professor at the University of Piraeus told Xinhua. “So naturally, Greece (is) fitted to this initiative because Greek ships were part of the Maritime Silk Road and Piraeus is a successful example.” Greek and Chinese experts gathered at the port city of Piraeus to discuss the Belt and Road at a ...

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Greek Ship Owners Opt for Tanker Newbuildings, While Their Chinese Counterparts Invest in Dry Bulkers

Shipowners from Greece and China have exhibited a different approach in terms of their newbuilding “tastes”. In its latest weekly report, shipbroker, Banchero Costa said that “in the dry bulk market, major orders were recorded in China where U.S.-based Owner Pangaea Logistic Solutions signed for 2+2 optional Baby Capes (around 95,000 dwt) that will be delivered during 2021.Vessel to be ICE CLASS 1 A fitted and will be built at Guangzhou International Shipyard. Price reported is $38 mln each. All units will go on 10-year timecharter to Baffinland Iron Mines ...

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Diana Shipping Inc. Announces Increase of Purchase Price and Extension of Tender Offer for Shares of Common Stock

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that the Company has increased the purchase price to be paid in its tender offer to purchase up to 3,125,000 shares, or about 3.1%, of its outstanding common stock using funds available from cash and cash equivalents (the “Offer”) to $3.40 per share and extended the Offer until the end of the day, 5:00 P.M., Eastern Time, on May 28, 2019, to allow additional time for stockholders to tender their shares. Except as set ...

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