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Safe Bulkers, Inc. Entered into an Agreement for the Acquisition of a Post-Panamax Class Dry-bulk Japanese Vessel with Delivery in the 3rd quarter of 2022

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-built, dry-bulk, Post-Panamax class, 87,000 dwt, newbuild vessel at an attractive price with a scheduled delivery within the third quarter of 2022. The vessel is designed to meet the latest requirements of Energy Efficiency Design Index related to Green House Gas, GHG emissions, ‘EEDI, Phase 3’. It will also comply with the latest NOx emissions regulation, NOx-Tier III. In parallel, the Company has entered into ...

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Euroseas Ltd. Announces New Charter for its M/V “Synergy Antwerp”

Euroseas Ltd., an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced the extension of the charter of its container vessel M/V “Synergy Antwerp”. Specifically: M/V “Synergy Antwerp”, a 4,253 teu vessel built in 2008, was extended for a period of between thirty-two (32) and thirty-five (35) months in charterers’ option, at a daily rate of $18,000. The new rate will commence on January 1, 2021 and will replace the remaining three months of the present low-rate charter originally due to expire on ...

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Major Commodities’ Trade Could Bode Well for Shipping During 2021

Trade volumes for iron ore and other dry bulk commodities have shown considerable promise of late, offsetting the coal “issue” between China and Australia. In its latest weekly report, shipbroker Allied Shipbroking said that “it has been a week of further boosts in global commodity prices as the gradual roll out of vaccines for COVID-19 start to boost optimism and hopes as to the potential economic recovery we may well witness next year. There has been considerable speculation now being placed that markets and the global economy will see a ...

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Tanker Market Expected to Take Time to Recover

The tanker market is bound to need more time to recover after a year which was far from normal. In its latest weekly report, shipbroker Gibson said that “the best science fiction script writers from Hollywood could not have come up with the twists and turns that we have experienced during 2020. In a year that was supposed to be dominated by IMO2020, the transition to VLSFO went relatively smoothly (nothing much else did). Price spreads widened and those who had installed scrubbers looked pleased with their investments. Little did ...

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Tanker Market Weak Throughout November

The tanker market stayed weak during the month of November, OPEC said in its latest monthly report. Dirty tanker rates remained weak in November, at the historically low levels so far in 2H20, amid ample tonnage lists. However, signs indicating that November could be the bottom of the market have provided some hope for ship owners as they look to 2021. Clean tanker rates picked up from multi-year lows, supported by improving West of Suez activities. Spot fixtures Global spot fixtures rose m-o-m in November, after dipping lower the month ...

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Diana Shipping Inc. Announces Sale of a Panamax Dry Bulk Vessel, the m/v Oceanis; and a Time Charter Contract for m/v New York

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2001-built vessel “Oceanis”, with delivery to the buyer latest by April 16, 2021, for a sale price of US$5.75 million before commissions. The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with EGPN Bulk Carrier Co., Limited, Hong Kong, for one of its ...

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Star Bulk Agrees to Acquire Τhree Dry Bulk Vessels From E.R. Capital Holding

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes announced today that it has entered into a definitive agreement with entities affiliated with E.R. Capital Holding GmbH & Cie. KG (“E.R.” or “Sellers” ) pursuant to which the Company will acquire three (3) cape size dry bulk vessels , namely E.R. BAYONNE, E.R. BUENOS AIRES and E.R. BORNEO (the “Vessels”). The Vessels are retrofitted with exhaust gas cleaning systems (Scrubbers). Consideration for the acquisition is payable in the form of $39.0 million in ...

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Trade Financing To Experience Period of Tranformation, Post-COVID

The existing disruptions in the global supply chain and commodities’ trade is having an impact on all aspects of trade, including financing. In its latest weekly report, shipbroker Intermodal said that “trading companies frequently count on short-term credit lines to finance their deals. In case they do not secure those funds it may affect the possibility of completing the transactions. A decrease in transaction values caused by the significantly low oil prices and many high firm bankruptcies have influenced banks’ commodity trade finance revenues amidst the pandemic”. Intermodal’s tanker chartering ...

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Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Baltimore with Koch

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 Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore. The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period until minimum July 20, 2021 up to maximum October 5, 2021. The new charter period is expected to commence on December 20, 2020. ...

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Demolition Activity Picking Up Pace

Demolition activity has picked up pace as the year draws to an end. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the stability witnessed in the market this week has provided a much-needed backbone for Cash Buyers and brokers to work off. These levels are seemingly in tandem with the recyclers themselves who also feel bullish going into the Christmas and New Year period and remain confident that these levels are here to stay for the foreseeable future. With these firm rates being vocalised, Owners have been ...

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Probunkers Submits Request For LNG Bunkering License In Port Of Singapore

probunkers responded to the Request for Proposal (RFP) of The Maritime and Port Authority of Singapore (MPA) for new licensees for supply of LNG as a marine fuel in the port of Singapore. The submission request for an LNG bunkering license for the port of Singapore is aligned with the business plan of the company.Over the last two years the management team of probunkers is working closely with all stakeholders in all areas of interest. probunkers’ CEO, Alexander Prokopakis commented: “Our submission request for an LNG bunkering license for the ...

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Newbuilding Ordering Activity Picks Up Pace

Newbuilding orders have continued their strong pace as 2020-end closes in. In its latest weekly report, shipbroker Allied Shipbroking said that “it seems that we will have an interesting end to the year, as recently we are witnessing increased news of fresh deals emerging. In the dry bulk market, the positive momentum that has been shaped as of late in the freight market and given that the worst part of the pandemic situation has already passed, have all helped boost interest amongst potential buyers. The moderate growth noted in the ...

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Diana Shipping Inc. Commences Self Tender Offer to Purchase Up to 6,000,000 Shares

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced the commencement of a tender offer to purchase up to 6,000,000 shares, or about 6.7%, of its outstanding common stock using funds available from cash and cash equivalents on hand at a price of $2.00 per share. The tender offer will expire at the end of the day, 5:00 P.M., Eastern Time, on January 14, 2021, unless extended or withdrawn. The Board of Directors determined that it is in the Company’s best interest to ...

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RINA’s Greek fleet operation centre casts off

RINA today opened its Fleet Operating Centre (FOC) in newly expanded offices in Piraeus. The new centre will allow the ship classification society to manage RINA classed vessels even more accurately and efficiently all over the world. The move, together with the relocation of the Deputy EVP for the Marine Business, Massimo Volta, to Athens, is part of the company’s long-term strategy to further strengthen its presence in Greece. The new centre will make it possible to integrate, in real time and on a single platform, ship records and certificates, ...

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Serving Society-Covid-19

Continuing the tradition of serving (διακονεῖν) society and driven by their sense of duty towards our fellowmen, Angelakos (Hellas) S.A. and the family of Evangelos El. Angelakos took the initiative and supported, through the Union of Greek Shipowners, central and regional state hospitals in Greece with medical equipment for the treatment of the pandemic Covid-19. Specifically, they have donated diagnostic and supportive equipment, as well as monitoring devices for checking physiological parameters to the hospitals “Sotiria” in Athens, “Skylitseio” in Chios island, and the regional medical center in Oinousses islands. ...

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