Frontline plc (the “Company” or “Frontline”), today reported unaudited results for the six months ended June 30, 2024: Highlights •Profit of $187.6 million, or $0.84 per share for the second quarter of 2024. •Adjusted profit of $138.2 million, or $0.62 per share for the second quarter of 2024. •Declared a cash dividend of $0.62 per share for the second quarter of 2024. •Reported revenues of $556.0 million for the second quarter of 2024. •Achieved average daily spot time charter equivalent earnings (“TCEs”)1 for VLCCs, Suezmax tankers and LR2/Aframax tankers in ...

Diana Shipping Inc. (NYSE: DSX), (the “Company”), 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 Cargill Ocean Transportation (Singapore) Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Pegasus. The gross charter rate is US$15,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum June 1, 2025 up to maximum August 1, 2025. The charter is ...

IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the “Company”), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the second quarter and six months ended June 30, 2024. OPERATIONAL AND FINANCIAL HIGHLIGHTS Fleet operational utilization of 80.9% in Q2 24’- a stable performance when compared to the 80.6% utilization achieved in Q1 24’. In Q2 23’ our operational utilization was lower in the order of 75.4%. 5% of fleet calendar days equivalent to 744 days in Q2 24’ ...

GasLog Ltd. (“GasLog” or “Company”) (NYSE: GLOG.PRA) announced today that the Company has completed the previously announced redemption of all of its remaining 200,000 outstanding 8.75% Series A Cumulative Redeemable Perpetual Preference Shares (the “Series A Preference Shares”, and the redemption thereof, the “Redemption”). The redemption price of the Series A Preference Shares was $25.00 per share plus accrued and unpaid dividends in respect of the Series A Preference Shares up to, but not including, the redemption date of May 28, 2024 (the “Redemption Date”, and such price, the “Redemption ...

According to the Union of Greek Shipowners’ Annual Report 2023–2024, Greece controlled more than 20% of global deadweight tonnage in 2023 and remains the number one ship- owning nation in the world. While the global market share claimed by Greece’s marine equipment makers may be modest by comparison, it is nonetheless fair to note that the last 10 years have seen significant progress for producers of mechanical electrical and digital systems alike. Supporting those efforts through the last decade has been HEMEXPO – Hellenic Marine Equipment Manufacturers & Exporters. Since ...

Newbuilding activity has witnessed a summer slowdown, but still several significant deals were concluded last week. In its latest weekly report, shipbroker Banchero Costa said that it was “a busy week for MSC: the company is expanding its fleet with a new contract at Zhoushan Changhong International Shipyard in China. The yard has confirmed that it will construct 12 x 19,000 TEU LNG dualfuel containerships for MSC, although pricing details remain under wraps. This contract builds on the established relationship between MSC and Zhoushan Changhong, which previously delivered 20 vessels ...

Over the past few months, scrapping activity has remained in the low end of things, as owners prefer to trade older ships, instead of scrapping them. In a recent weekly report, shipbroker Xclusiv said that “scrap activity remains subdued in 2024 mainly due to the combined impact of Russian sanctions and the Red Sea crisis. Another factor contributing to the decreased interest in scrapping, particularly within the tanker and gas sectors, is high demand for vintage vessels within the grey trade. These factors have increased shipping distances and driven freight ...

Capital Clean Energy Carriers Corp., an international owner of ocean-going vessels, announces today completion of our conversion from a Marshall Islands limited partnership named “Capital Product Partners L.P.” to a Marshall Islands corporation (the “Conversion”) and our adoption of a new corporate identity with a change in name to “Capital Clean Energy Carriers Corp.” and Nasdaq stock market ticker to “CCEC” (the “Name Change”). The Conversion and the Name Change are key milestones in our strategic pivot towards the transportation of various forms of natural gas to industrial customers, including ...

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 Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is US$26,800 per day, minus a 5.00% commission paid to third parties, for a period of minimum twenty-three (23) months to maximum twenty-six (26) months. The charter is expected to commence on September ...

The Shipping Deputy Ministry announces that the Council of Ministers has today, 23 August 2024, approved the extension of the Contract for the Passenger Maritime Link between Cyprus and Greece for a further 3 years (2025, 2026, 2027), after evaluating the performance indicators, based on the number of passengers carried from 2022 until today. The Cyprus – Greece Passenger Maritime Link was embraced from the first year by the public with great success, exceeding all expectations, creating a new tourist market for travellers wishing to travel to and from Cyprus ...

The premier golf event, Greek Maritime Golf Event, is gearing up for its 10th anniversary year, set to take place on September 5-8, 2024, at Costa Navarino, in Messinia. The event will feature a rich schedule filled with golf and parallel activities for the executives of the Greek and global maritime industry. Golf against the background of the endless blue of the Ionian Sea Greek Maritime Golf Event is expected to gather more than 80 senior maritime executives, forming teams of four. Golfers will compete at the golf courses of ...

Navios Maritime Partners L.P. (“Navios Partners”) (NYSE: NMM), an international owner and operator of dry cargo and tanker vessels, today reported its financial results for the second quarter and six month period ended June 30, 2024. Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the second quarter of 2024. Navios reported revenue of $342.2 million and net income of $101.5 million. Earnings per common unit were $3.30 and our net loan to value was 31.6%.” Angeliki Frangou continued, “We are ...

Athens based Bluepool Panamax, a dry bulk shipping pool, is continuing to beat the benchmark Baltic Panamax Index (BPI) and is growing. Since its launch in April 2022, vessels entered in the pool have delivered consistently higher returns to their owners than those traded on an index-linked contract. In July, a further six third party owned vessels joined the pool. The pool, launched in early 2022, now consists of 17 vessels, making it a significant player in the market. Singapore based MPSL Diamond Pte has brought in its entire fleet ...

There are fewer than 200 endangered sperm whales of the eastern Mediterranean sub-population, living predominantly in the Hellenic Trench. This relatively small, endangered whale population is under threat from collisions with ships, known as ‘ship strikes’, which are a major cause of death and threaten the population with extinction. It is an encouraging sign however, that an increasing part of the shipping industry recognizes its responsibility and commits to rerouting measures – the Greek company Arcadia Shipmanagement is the newest addition to that list. Scientific studies show that the deaths ...

Diana Shipping Inc. (NYSE: DSX), (the “Company”), 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 Paralos Shipping Pte., Ltd., for one of its Kamsarmax dry bulk vessels, the m/v Astarte. The gross charter rate is US$14,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum July 15, 2025 up to maximum September 15, 2025. The charter is expected to co ...