Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today reported a net loss of $3.9 million for the first quarter of 2018, compared to a net loss of $7.4 million for the respective period of 2017. Time charter revenues were $8.0 million for the first quarter of 2018, compared to $3.8 million for the same period of 2017. This increase was mainly the result of increased revenues generated by the improvement of the Company’s fleet utilization and increased time charter rates achieved. As of May ...

Genco Shipping & Trading Limited, the largest U.S. headquartered drybulk shipowner focused on the transportation of major and minor bulk commodities globally, yesterday reported its financial results for the three months ended March 31, 2018. The following financial review discusses the results for the three months ended March 31, 2018 and March 31, 2017. First Quarter 2018 and Year-to-Date Highlights Entered into a commitment letter for a senior secured term loan facility with an aggregate principal amount of up to $460 million to – – Refinance its four existing credit ...

DryShips Inc., a diversified owner and operator of ocean going cargo vessels, announced its unaudited financial and operating results for the quarter ended March 31, 2018. First Quarter 2018 Financial Highlights For the first quarter of 2018, the Company reported a net income of $0.8 million, or $0.01 basic and diluted earnings per share. The Company reported Adjusted EBITDA of $12.9 million for the first quarter of 2018. (1) (1) Adjusted EBITDA is a non-GAAP measure; please see later in this press release for reconciliation to net income/ (loss). Updated ...

Newbuilding ordering activity has shifted towards more specialized vessels according to shipbroker reports this week. Allied Shipbroking said that “it was yet another week with a fair flow of new order deals coming through, though this time around it was a case of more specialized units taking the lion share, with a hand full of tanker and containership units showing up at the same time, while the dry bulk sector was showing no fresh activity this time around. The overall messages being thrown are still fairly mixed, with the weaker ...

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period ended March 31, 2018. First Quarter 2018 Financial Highlights: Total net revenues of $12.9 million. Net loss of $3.2 million; net loss attributable to common shareholders (after a $0.5 million of dividend on Series B Preferred Shares) of $3.7 million or $0.33 loss per share basic and diluted. Adjusted net loss attributable to common shareholders1 for the period was ...

Navios Maritime Partners L.P., an international owner and operator of container and drybulk vessels, today reported its financial results for the first quarter ended March 31, 2018. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the first quarter of 2018, during which we reported net income of $5.5 million. During the quarter, we reinstated distributions at $0.08 per unit annually, representing an annualized current yield of about 4.0%. Our initial quarterly distribution of $0.02 cents per unit will be payable ...

The annual briefing to the Hellenic Fund and Asset Management Association for the results of PPA S.A. for the year 2017 took place at the Athens Stock Exchange, in the presence of the CEO of PPA S.A. Captain Fu Chengqiu, Mr. Angelos Karakostas, Deputy CEO, Mr. Athanasios Liagkos, Member of the Board of Directors and Management Consultant, Mr. Tian Chao, General Manager – Financial Dept. and other executives of the company. The turnover amounted to € 111.5 million compared to € 103.5 million in the corresponding period of 2016, showing ...

Navios Maritime Containers Inc., a growth vehicle dedicated to the container sector of the maritime industry, yesterday reported financial results for the first quarter ended March 31, 2018. HIGHLIGHTS — RECENT DEVELOPMENTS 34% increase in fleet capacity YTD 2018 Acquired four containerships YTD 2018 for $129.0 million 59% increase in sequential quarterly EBITDA $15.7 million EBITDA for Q1 2018 vs. $9.9 million for Q4 2017 Raised $30.0 million equity in March 2018 $119.0 million sale and lease back agreement extending maturities to 2023 $61.0 million new term loan facilities Vessel ...

Navios Maritime Containers Inc., a growth vehicle dedicated to the container sector, announced today that it agreed to acquire three containerships for a total purchase price of $117.25 million. Navios Containers agreed to acquire two 8,204 TEU containerships, the YM Utmost and the YM Unity, for $67.0 million from Navios Maritime Partners L.P. (“Navios Partners”). The two vessels are chartered out at a net daily charter rate of $34,266 until August 2018 and October 2018, respectively. The acquisition of the YM Utmost and the YM Unity was unanimously approved by ...

The impact of Venezuela’s reeling oil industry on trade patterns on the tanker market has been well documented since the country’s “fall from grace” a few years back. Things are once again heating up, bringing shifts on the freight market. In its latest weekly report, shipbroker Gibson noted that “later this month the people of Venezuela will once again be heading to the polls to vote in Presidential elections. Whatever the outcome of the vote, the next government will be facing significant challenges over the next few years. The Venezuelan ...

Eletson Corporation is leading the way in adopting cutting-edge technology to improve the lives of their seafarers and increase payroll efficiencies. The introduction of Brightwell’s cashless facilities for masters and crew reduces the need for cash on board – and the associated costs and risks that come with it. Vasilis Hadjieleftheriadis, Vice President of Eletson, states “Cash on board vessels is both a risk and a cost to managers and owners alike. We’re delighted to work with Brightwell who offers a unique solution which benefits both us and most importantly ...

Capital Product Partners L.P. announced that it has completed the previously announced acquisition of the M/T ‘Anikitos’, an eco-type MR product tanker (50,082 dwt IMO II/III Chemical Product Tanker built 2016, Samsung Heavy Industries (Ningbo) Co., Ltd.) for a total consideration of $31.5 million from Capital Maritime & Trading Corp. (“Capital Maritime”). The Partnership funded the acquisition of the M/T ‘Anikitos’ with the net proceeds received from the sale of the M/T ‘Aristotelis’, available cash and the assumption of a term loan under a credit facility with ING Bank NV ...

Diana Shipping Inc., 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 SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter rate is US$19,000 per day, minus a 5% commission paid to third parties, for a period of about nine (9) months to about eleven (11) months. The charter is expected to commence on May 9, 2018. The m/v Houston is ...

It’s been a mixed bag for the tanker markets this week, but more upside could be on the way. In its latest weekly report, shipbroker Affinity Research said that “in Suezmax markets, the TD20’s dramatic collapse was perhaps halted by busy WAF & Americas/East VLCC markets, which could firm & cause inquiry to return to Suezmaxes. West Africa can be considered flat at best. There is currently limited inquiry but prompt fixing & prospect of returning barrels holds the market to some degree. We also expect some potential upwards correction ...

Globus Maritime Limited, a dry bulk shipping company, announced today it has received written notification from The Nasdaq Stock Market (“Nasdaq”) dated April 30, 2018, indicating that because the closing bid price of the Company’s common stock for the last 30 consecutive business days was below $1.00 per share, the Company no longer meets the minimum bid price continued listing requirement for the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5450(a)(1). Pursuant to Nasdaq Listing Rules, the applicable grace period to regain compliance is 180 days, or ...