Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported net income of $25.7 million and net income attributed to common stockholders of $24.2 million for the fourth quarter of 2022. This compares to net income of $41.1 million and net income attributed to common stockholders of $39.7 million for the fourth quarter of 2021, including a gain of $15.3 million from the distribution of the common shares of OceanPal Inc. to the Company’s shareholders, following its spinoff. Earnings per ...

The newbuilding market has picked up the pace during the past week, while a significant number of deals was reported in the S&P market as well. In its latest weekly report, shipbroker Allied Shipbroking said that “the number of newbuilding contracts picked up, following the particularly quiet preceding week. Numerous sources have confirmed HMM’s order for 9 container vessels that were reported at the LOI stage two weeks ago. Over half of contracts placed were placed for tanker vessels, of which 8 were for LR1/2 vessels and the rest MRs. ...

United Maritime Corporation, announced its financial results for the fourth quarter ended December 31, 2022 and the period from commencement of its operation on July 6, 2022 to December 31, 2022. The Company also declared a quarterly dividend of $0.075 per share. For the quarter ended December 31, 2022, the Company generated net revenues of $14.9 million, while EBITDA for the quarter was $38.9 million. Net Income and Adjusted Net Income for the quarter were $36.5 million and $39.8 million respectively. The daily Time Charter Equivalent (“TCE”3) of the fleet ...

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that it has entered into an agreement for the acquisition of a Japanese, 81,800 dwt, dry-bulk, Kamsarmax class vessel at an attractive price with a scheduled delivery date within the second quarter of 2025. The newbuild vessel is designed to meet the Phase 3 requirements of Energy Efficiency Design Index related to the reduction of greenhouse gas emissions (”GHG -EEDI Phase 3”) as adopted by the International Maritime Organization, (“IMO”) and also comply with the latest NOx ...

The ship recycling market seems to have edged out of the “shadows” this past week, with activity quite notable. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “steady enquiry, steady flow of tonnage and stable price levels currently provide balanced market conditions for Owners to reap the benefits of any potential recycling candidate. There are some speculative numbers being placed on the bidding table for smaller container vessels that become available, particularly for Bangladesh delivery. The quantity of recyclers in Chattogram that are in a position to ...

STEALTHGAS INC. (NASDAQ: GASS), 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 fourth quarter and twelve months ended December 31, 2022. OPERATIONAL AND FINANCIAL HIGHLIGHTS1 Entered into a number of medium to long term charters increasing forward coverage. About 55% of fleet days are secured on period charters for 2023, with total fleet employment days for all subsequent periods generating approximately $105 million (excl. JV vessels) in contracted revenues. Revenues at $42.7 million ...

Navios Maritime Partners L.P., an international owner and operator of dry cargo and tanker vessels, today reported its financial results for the fourth quarter and year ended December 31, 2022. Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the full year and the fourth quarter of 2022. For the full year of 2022, we reported revenue and net income of $1.2 billion and $579.2 million, respectively. For the fourth quarter of 2022, we reported revenue of $370.9 million and net ...

Capital Product Partners L.P., an international owner of ocean going vessels, today announced the successful delivery of the LNG carrier (“LNG/C”) ‘Asterix I’. The vessel was delivered on February 17, 2023 and has started her seven year employment with Hartree Partners Power & Gas Company (UK) Limited, who maintain an option to extend by an additional two years. The vessel acquisition was financed through a combination of a $12.0 million cash deposit advanced to Capital Maritime & Trading Corp. (the “Seller”) in 2022, $184.0 million of debt drawn under a ...

The tanker market could stand to benefit from an increase in China’s fuel demand. In its latest weekly report, shipbroker Intermodal said that “China’s GDP is forecast to rally 3% y-o-y and reach 5.5% following the country’s exit from its strict zero-covid policy. The elevated economic growth will eventually lead to fuel demand recovery. Indeed, amid the sharp increase in passenger flights and road traffic, as well as signals that China’s massive refining sector is speeding up processing rates, there are undoubtedly a plethora of signs that the country’s demand ...

Imperial Petroleum Inc. announced today that it has entered into agreements to acquire two handysize drybulk carriers, built in Japan at Nakai Zosen in 2012 and at Shin Kurushima Onishi in 2013 respectively, with an aggregate capacity of approximately 71,000 dwt, from entities affiliated with our Chief Executive Officer, for aggregate cash consideration of $25.5 million and 13,875 shares of Series C Cumulative Convertible Perpetual Preferred Stock (the “Series C Convertible Preferred Stock”). Delivery of the vessels on a charter-free basis, and closing of the transactions, is expected by the ...

The VLCC tanker market could see an upward trend, thanks to increased demand from China. In its latest weekly report, shipbroker Gibson said that “China’s dramatic shift away from its strict zero covid policy at the end of 2022 defied expectations of a gradual reopening over the course of 2023. Inevitably fuel demand is now projected to grow strongly over the course of 2023, with the IEA predicting growth of 900kbd, whilst Refinitiv Oil Research forecasts crude imports gaining 10% year on year. However, resurgent Chinese demand raises several key ...

The tanker market failed to state a recovery during the first month of 2023, following on the “footsteps” of the last month of 2022. In its latest monthly report, OPEC said that dirty freight rates continued the previous month’s decline in January, with m-o-m losses across all monitored routes. The decline came as rates continued to fall from elevated levels that had been pushed higher by concerns about disruptions due to trade dislocations. However, as trade flows had largely adjusted and with Russian crude trading below price cap levels, the ...

The shipping markets have been exhibiting a mixed bag of performance lately. In its latest weekly report, shipbroker Xclusiv said that “last week a tragic event overshadowed the news. Seismic activity in south east Turkey & Syria led to a biblical catastrophe with tens of thousands of dead, hundreds of thousands missing, thousands of homeless people, destroyed infrastructures & shattered economy. Many countries have sent rescue teams to assist the local authorities while humanitarian aid is gathering to support the people in need. We deeply sympathise with the families of ...

EuroDry Ltd., an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced its results for the three and twelve-month periods ended December 31, 2022. Fourth Quarter 2022 Highlights: Total net revenues of $15.1 million. Net income attributable to common shareholders of $6.3 million or $2.21 and $2.20 earnings per share basic and diluted, respectively. Adjusted net income attributable to common shareholders1 for the quarter of $3.3 million, or, $1.18 per share basic and diluted, respectively. Adjusted EBITDA1 was $7.3 million. An average of 10.1 ...

United Maritime Corporation, announced that pursuant to its fleet growth strategy, it has entered into agreements with two unaffiliated third parties to purchase two high quality Kamsarmax dry bulk vessels, with prompt deliveries. The Company also announced that it has entered into a bareboat charter agreement for one Japanese-built modern Panamax dry bulk vessel with an unaffiliated third party in Japan. The bareboat charter agreement includes a purchase option for United. Acquisition of Two Kamsarmax Dry Bulk Vessels The first vessel was built in 2009 at Universal Shipbuilding in Japan, ...