The dry bulk fleet’s net growth this year, won’t surpass the 3% mark, marginally higher than 2022, but lower than both 2021 and 2020, maintain the favorable fundamentals picture of the past few years. In its latest weekly report, shipbroker Intermodal said that “as we approach the end of 2023, it becomes pertinent to examine the development in the supply of bulk carriers throughout the year. During the initial eleven months of 2023, the industry witnessed the commissioning of 416 bulk carriers, culminating in a total deadweight tonnage (DWT) of ...

Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, reported net income of $10.4 million and net income attributable to common stockholders of $9.9 million for the third quarter of 2023. The 2023 third quarter results compared to a net income of $10.7 million and net income attributable to common stockholders of $10.4 million for the same period in 2022. Earnings per share, basic and diluted, for the third quarter of 2023 were $0.88 and $0.27, respectively. Revenue was $24.1 million ($23.4 million net of ...

Tanker market participants are waiting for the 2024 crude oil supply strategy, from OPEC members and other major producers. In its latest weekly report, shipbroker Gibson said that ‘as we edge closer to 2024, oil markets have increasingly begun to question what OPEC’s strategy for next year might look like. Under the current arrangement, production is due to rise by 2.375mbd in January if all producers chose to utilize their quotas. Few market participants expect the taps to be turned on come January, but noises are being made within the ...

Iron ore imports from the EU have been on the decline, with 2023 proving to be no exception. In its latest weekly report, shipbroker Banchero Costa said that “2023 has been so far a positive year for global iron ore trade. In Jan-Oct 2023, global loadings of iron ore increased by +5.1% y-o-y to 1,343.8 mln tonnes, from 1,278.9 in the same period of 2022, based on AXS Marine vessel tracking data. It is also just above the 1,320.1 mln tonnes loaded in Jan-Oct 2021, which was the last all-time ...

HEMEXPO – Hellenic Marine Equipment Manufacturers and Exporters – has appointed a new Board of Directors following the association’s General Assembly Meeting on Tuesday 21 November. After completing the bi-annual election process, Mr Konstantinos Fanouriadis, CEO of FARAD S.A., Mr Athanasios Athanasopoulos, CEO of UTECO ABEE and Mr Ilias Mallios, Export Manager of SeaBright S.A. were re-appointed to the board, joined by Mr Stefanos Chartomantzidis, Chief Commercial Officer of Prisma Electronics. All four will assume the title of Vice-President of HEMEXPO. HEMEXPO is a leading suppliers and exporters association for ...

The panamax market has been on a rally over the past few days. In its latest weekly report, shipbroker Xclusiv said that “on Friday 17th November 2023, BPI hit 1,874 points and the weighted average of the 5 T/C routes reached USD 16,868. The Panamax index hasn’t seen these levels since 27th October 2022, when the index stood at 1,900 points. The BPI has increased about 30% the last 10 days in order to reach almost a 11 months high. The route Skaw-Gibraltar Transantlantic round voyage, has significantly boosted the ...

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced that it has formed a new Board of Directors committee on Environmental, Social and Governance (the “ESG Committee”). The ESG Committee shall support the Company’s overall ESG strategic direction, providing the executive management and the Board of Directors with ESG insights on significant trends. The ESG Committee consists of six Board members, four of whom are independent directors. The President of the Company has been assigned to lead the management team on ESG matters and report to the ...

More newbuilding orders were submitted last week, as owners are eager to book more berths, ahead of a capacity overflow among major yards. In its latest weekly report, shipbroker Allied said that it was “another fairly busy week for contracting, with a good number of orders outside of the bulker and tanker sectors in contrast with the week prior. In the dry bulk sector, Wisdom Marine continues to invest in Handysize vessels and now has around 10 vessels on order. On the tanker side, buying appetite was focused on the ...

TOP Ships Inc., an international owner and operator of modern, fuel efficient “ECO” tanker vessels, announced today that it has agreed to extend the time charter employment contracts of its two VLCC vessels, M/T Julius Caesar and M/T Legio X Equestris, at an increased rate. Specifically, the firm period will be extended for approximately 3 years at a daily rate of $41,500 per vessel with two additional years at the charterer’s option. TOP Ships Inc. is an international owner and operator of modern, fuel efficient eco tanker vessels focusing on ...

STEALTHGAS INC., a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today its unaudited financial and operating results for the third quarter and nine months ended September 30, 2023. OPERATIONAL AND FINANCIAL HIGHLIGHTS All-time record Net Income of $43.0 million for the nine-month period corresponding to a basic EPS of $1.12. Strong profitability continued for the third quarter with Net Income of $15.7 million for the three-month period corresponding to a basic EPS of $0.41, a 134% increase compared to last year. Significantly ...

The meeting of the Thessaloniki Port Users’ Council took place on Tuesday, November 21, 2023, via videoconference, chaired by the Executive Chairman of the BoD of ThPA S.A., Thanos Liagkos, with the active participation of the Chief Executive Officer of ThPA S.A., Arie Koppelaar, representatives of relevant bodies, as well as executives and partners of the company. The meetings of the Thessaloniki Port Users’ Council offer the opportunity to share information and conduct constructive dialogue among the members of the port community, addressing issues of common interest and initiatives aimed ...

The ship recycling market has experienced slow activity as the Diwali festivities took over. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “this week, the recycling market remained fairly inactive as the Diwali festivities were in full swing. There does however seem to be some spring in sentiment from the recycling yards following the continued shortage of supply of tonnage which is resulting in improved indications. The Indian recyclers continue to lead the way in pricing, but it will be interesting to see how the domestic steel ...

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Bunge SA, Geneva, for one of its Ultramax dry bulk vessels, the m/v DSI Andromeda. The gross charter rate is US$13,500 per day, minus a 5% commission paid to third parties, for a period until minimum February 20, 2025 up to maximum April 20, 2025. The charter is expected to commence on November 24, 2023. ...

Shipping is about to enter a new period of structural reforms, as a result of the implementation of the EU ETS across the industry, starting next year. In its latest weekly report, shipbroker Intermodal said that “as 2024 approaches, the maritime industry is poised for a significant transformation with the integration of the European Union’s Emission Trading System (EU ETS). This change represents more than a regulatory update; it redefines industry standards. The EU ETS, with its plan to release about 80 million Emission Unit Allowances (EUAs) into the market, ...

Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS) (the “Company” or “Pyxis Tankers”), an international shipping company, today announced its unaudited results for the three and nine month periods ended September 30, 2023. Summary For the three months ended September 30, 2023, our Revenues, net were $11.1 million. For the same period, our time charter equivalent (“TCE”) revenues were $9.3 million, representing a decrease of approximately $2.7 million, or 22.3%, over the comparable period in 2022 when we operated more vessels. Our net income attributable to common shareholders for the three ...