Globus Maritime Limited, a dry bulk shipping company, announced that it has entered into, through a separate wholly owned subsidiary, an agreement with an unaffiliated third party to purchase a 2018-built “Eco” (i.e., with certain fuel efficiency design features) Kamsarmax vessel built by the Jiangsu New Yangzi Shipbuilding yard, for $27 million. The purchase agreement is subject to standard closing conditions and requirements. The vessel is expected to be delivered to Globus during the second quarter of 2021. On completion of this acquisition and the acquisition of the Kamsarmax vessel ...

Newbuilding orders and sales in the secondhand market have intensified during the past week, as ship owners are preparing ahead of an expected boom in trade flows. In its latest weekly report, shipbroker Allied Shipbroking said that “it was a very active week in the newbuilding market, with several deals coming to the surface. In the dry bulk market, we resumed witnessing an increased interest from the side of buyers, nourished by the very positive momentum in the segment and the record earnings being noted as of late along with ...

An economic resurgence of China has been enough to propel the container and dry bulk markets forward. In its latest weekly report, shipbroker Allied Shipbroking said that “China’s surging economic activity has been the main story thus far in the year, with the increased industrial output and revamped consumption in the country having been the main primer in the stellar performance seen in many shipping sectors such as that of dry bulkers and containerships”. According to Allied’s George Lazaridis, Head of Research & Valuations, “both Industrial output and Retail sales ...

Vodafone Business ushered in a new era for the Piraeus Container Terminal, which promises cutting-edge technologies and new, unlimited possibilities for the country’s largest port. Acting as a catalyst in Greece’s technology and telecommunications, Vodafone designed, built, and delivered for use the first ever private mobile network in Greece, on behalf of the Piraeus Port Authority (PPA) and Piraeus Container Terminal (PCT). Following an international tendering procedure, and based on the needs and specifications requested by PPA and PCT, Vodafone Greece submitted an integrated technology proposal, marking a historic moment ...

Kongsberg Digital announced today that Dorian LPG (DK) ApS, a subsidiary of Dorian LPG Ltd. (Dorian), which is a leading owner and operator of modern VLGCs, has contracted to install Vessel Insight to its entire fleet of 22 LPG carriers. By installing Vessel Insight, Dorian is consolidating collection of all critical data from its vessels into one common infrastructure. The agreement is expected to commence operation in the upcoming months. With the installation of Vessel Insight, Dorian plans to collect all critical data from its entire VLGC (Very Large Gas ...

The shipping industry, together with engine manufacturers and oil companies are actively pursuing new technologies to reach the environmental goals set forth by global regulators. Within that context, one of the technologies which could be groundbreaking, is that of carbon capture. In its latest weekly report, shipbroker Gibson said that “in some ways, EU carbon prices could be viewed as a barometer of mounting environmental pressure not just within Europe but on a global scale. Recently, EU emissions trading scheme (ETS) credits have surged to record levels, trading above €42 ...

China’s COSCO Shipping investment in Piraeus, Greece’s largest port, in recent years is a successful example of cooperation with mutual benefits, former Greek Prime Minister George Papandreou told Xinhua in a recent written interview. COSCO Shipping acquired the majority of Piraeus Port Authority S.A. (PPA) shares in 2016 after an international tender, while the Chinese company’s subsidiary, Piraeus Container Terminal S.A. (PCT), has managed the port’s container terminal since 2009. The image of Piraeus has improved with impressive results posted in recent years, as work for the port’s upgrade and ...

Tanker loadings from West Africa proved to be problematic numbers-wise, during 2020. In its latest weekly report, shipbroker Banchero Costa said that ‘2020 was overall a very negative year for crude oil trade, although of course the tanker market was partially shielded by the increased demand for floating storage. Total loadings in the 12 months of 2020 were down -5.6% year-on-year to 2027 million tonnes, according to vessels tracking data from Refinitiv”. According to the shipbroker, “some exporters were more affected than others. Crude shipments from Saudi Arabia went down ...

We are delighted to announce that the Liberian Registry has signed an agreement with SQLearn to approve SQLearn’s library of e-learning courses and STCW e-courses for the maritime industry. Amid the ongoing global pandemic, and lack of access to traditional education resources for many seafarers, SQLearn and the Liberian Registry are working together to bring innovative solutions and customized experiences to seafarers and shipowners to allow for the seafarers to continue to get the professional development and training necessary. The library of SQLearn’s e-learning material is a complete solution of ...

An underwhelming demolition market has been the norm so far this year, despite expectations that a lackluster freight market, mainly for tankers, could increase tonnage sold for scrap. However, this hasn’t been the case so far, not to mention that owners of bulkers and containers prefer to keep them in the market, due to improved freight rates. Scrapyards have already hiked prices offered for tonnage, by 10% since the start of the year, with shipbrokers expecting this to increase even further. In its latest weekly report, shipbroker Intermodal said that ...

Seanergy Maritime Holdings Corp. announced that it has entered into agreements with unaffiliated third parties to purchase two Capesize vessels. Following their delivery, the size of the Company’s fleet will increase to 14 Capesize vessels with an aggregate cargo capacity of approximately 2.5 million dwt. The first vessel was built in 2013 at a reputable shipyard in Japan, has a cargo-carrying capacity of approximately 176,000 deadweight tons (“dwt”) and shall be renamed M/V Flagship. The vessel is expected to be delivered to the Company by the end of April 2021, ...

Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced today the extension of the charter of its container vessels M/V “EM Kea” and a new time charter contract for its container vessel M/V “Synergy Busan”. Specifically: The charter of M/V “EM Kea”, a 3,091 TEU vessel built in 2007, was extended for a period between a minimum of twenty-five and a maximum of twenty-eight months at the option of the charterer, at a daily rate ...

Dry bulk tonnage is a “hot commodity” right now, as ship owners are opting to add more tonnage in their fleet, in anticipation of improved market fundamentals moving forward. In its latest weekly report, shipbroker Allied Shipbroking said that “a moderate activity was witnessed in the newbuilding market this past week. In the dry bulk sector, the positive sentiment that dominates the market, supported by the rising freight earnings, has boosted buying interest. This past week we noted a very intense appetite for Capesizes, but given the high cost and ...

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that on March 16, 2021 it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2006-built vessel “Naias”, with delivery to the buyer latest by July 30, 2021, for a sale price of US$11.25 million before commissions. Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 ...

Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) a global shipping company focusing on the transportation of dry bulk cargoes announced yesterday that it has taken delivery of six dry bulk vessels pursuant to the previously announced transaction with ENETI INC. (formerly known as SCORPIO BULKERS INC.). The seventh vessel of the transaction, SBI PEGASUS, is expected to be delivered to the Company within early second quarter of this year. The Company issued to the ENETI affiliates 2,649,203 common shares representing the shares consideration for the acquisition ...