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LR boosts cyber capacity in Greece

New Nettitude hub will bring advanced cyber expertise to Greece and follows LR’s recent bolstering of Greek commercial team. Nettitude, the cyber security services provider of Lloyd’s Register (LR), has announced the location of a new operations centre in Athens, Greece. Founded in 2003 and acquired by Lloyd’s Register in March 2018, Nettitude is an award-winning global provider of threat-led services that span technical assurance, consulting and managed detection and response. With specific industry expertise in the financial, retail, maritime and defence sectors, Nettitude are strategically placed to offer cyber ...

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Tanker Market in the Cusp of a Structural Change

The energy mix is bound to shift, as fossil fuels are expected to take a back seat, in favor of alternative fuels. As such, the tanker market is going to face structural changes moving forward. In its latest weekly report, shipbroker Allied Shipbroking said that “one of the dominating trends in investments since the beginning of the year and since the election of Joe Biden in the US presidential elections, has been the “clean energy” concept. The expected supporting policy changes from the new US administration (including the rejoining of ...

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Seanergy Maritime Holdings Corp. Announces New Time Charter Agreements

Seanergy Maritime Holdings Corp. announced today that it has entered into time charter contracts (“T/C”) for two additional Capesize vessels with Anglo American, a leading global mining corporation, and Pacbulk Shipping, a major Asian drybulk operator. Furthermore, another Capesize vessel of the Company is extending its current time charter employment. M/V Fellowship The M/V Fellowship has been fixed on a T/C with Anglo American, a leading global mining company. The T/C is expected to commence in the beginning of the second quarter of 2021 and will have a term of ...

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Canadian Oil Exports Could Offer Support to the Tanker Market

An increase of seaborne crude oil exports from Canada could be the case in the future, after the latest setback regarding the Keystone XL pipeline project. In its latest weekly report, shipbroker Gibson said that “some major but unsurprising decisions shook the North American energy market last Wednesday. January 20th saw the US re-join the Paris Climate Agreement, ban the development of the controversial Keystone XL (KXL) project and temporary freeze drilling permits for federal land via executive orders signed by President Biden. For Canada, KXL would have increased pipeline ...

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Dry Bulk Market: Seaborne Coal Trade Down 12.7% in 2020

Seaborne coal trade has retreated during 2020, as major exporters witnessed lower trade figures. In its latest weekly report, shipbroker Banchero Costa said that “in the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, as lockdowns shut down much of the global economy. Nevertheless, the Pacific basin (and in particular China and Vietnam) remained one of the few brighter spots on the global map, and this helped to shore up demand for Australian coal. In fact, ...

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Capital Product Partners L.P. Announces Fourth Quarter 2020 Financial Results, the Acquisition of Three 5,100 TEU Container Vessels and an up to $30 Million Unit Repurchase Program

Capital Product Partners L.P., an international owner of ocean-going vessels, Friday released its financial results for the fourth quarter ended December 31, 2020. Agreed to acquire three 5,100 TEU container vessels with five year employment for a total consideration of $40.5 million. Operating Surplus1 and Operating Surplus after the quarterly allocation to the capital reserve for the fourth quarter of 2020 was $20.7 million and $11.4 million respectively. Announced common unit distribution of $0.10 for the fourth quarter of 2020. Announced an up to $30 million common unit repurchase program. ...

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“Navigating Uncharted Waters: Shipping in a Pandemic Age” Virtual Forum

The Hellenic American and Norwegian American Chambers of Commerce announce that their 27th Annual Shipping Conference will take place in virtually on February 2, 2021. Each year the HACC-NACC Shipping Conference focus on a specific theme of importance to the global maritime industry, with panels and speakers discussing cutting-edge issues in this ever changing sector. Attendees praise the conference’s value as a candid, timely and relevant appraisal of the latest trends and developments in commercial shipping. We are confident that this year’s program will allow for lively discussions of important ...

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Star Bulk Carriers Corp. Announces That It Has Become a Signatory of the “Neptune Declaration on Seafarer Wellbeing and Crew Change”

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced today that it has become a signatory of the “Neptune Declaration on Seafarer Wellbeing and Crew Change”, a worldwide call to action to end the unprecedented crew change crisis caused by the Covid-19 pandemic. Since the outbreak of the pandemic, hundreds of thousands of seafarers have been left working on board ships around the world beyond the expiry of their initial contracts, leading to crew fatigue and to increased risk of maritime incidents. ...

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Diana Shipping Inc. Announces Preliminary Results of Self Tender Offer for Shares of Common Stock

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced the preliminary results of its tender offer to purchase up to 6,000,000 shares of its common stock, par value $0.01 per share, at a price of $2.50 per share, net to the seller in cash, less any applicable withholding taxes and without interest. The tender offer expired at 5:00 P.M., Eastern Time, on January 28, 2021. Based on a preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, the ...

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Ship Owners Are Experimenting With New Fuels As the Clock Towards Decarbonization is Ticking

The coming decade will prove crucial in determining which fuel and propulsion technologies are the optimum, in carving the best path possible towards shipping’s decarbonization. In its latest weekly report, shipbroker Intermodal commented that “as we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently their emissions, so as the shipping industry. The IMO has set some goals regarding the decarbonization of the industry; the most challenging is to start replacing current marine fuels with greener, more efficient and ...

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RINA Hellenic Advisory Committee: Resilient 2020 – Fleet Operation Center and Remote Surveys

The first Digital Edition of RINA Hellenic Advisory Committee organized by Spyros Zolotas and the RINA Hellas team, hosted several leaders within the Greek shipping community, who discussed about the challenging but resilient and successful 2020, digital solutions, remote surveys, Cybersecurity and the alternative fuels. The Committee Chairman George Youroukos, Owner of Technomar Shipping Inc., in his opening speech highlighted some of RINA’s significant achievements in 2020, such as a further increase of classed fleet and he underlined the quality of added value services which offer a competitive advantage to ...

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Globus Maritime Limited Announces Pricing of $16.3 Million Registered Direct Offering

Globus Maritime Limited announced yesterday that it has entered into a securities purchase agreement with certain unaffiliated institutional investors to issue 2.6 million of its common shares (or pre-funded warrants in lieu thereof) and purchase warrants to purchase up to an aggregate of 1.95 million common shares at a purchase price of $6.25 per common share and accompanying purchase warrant (or $6.24 per pre-funded warrant and accompanying purchase warrant) in a registered direct offering. The purchase warrants will have an exercise price of $6.25 per share, are exercisable immediately, and ...

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Dry Bulkers In Demand as Market Recovers

Shipowners’ appetite for dry bulk carriers has been highlighted during the past week, as freight rates have kept their upward trajectory. In its latest weekly report, shipbroker Banchero Costa commented on the S&P market that “with a strong Capesize market, albeit slowing down a bit in the last few days, we recorded a few sales to first class buyers. The Han Fu Star 175k dwt built 2012 Rongsheng is reported sold to either Moundreas or Berge Bulk at a price of USD 18.35 mln, whilst the vintage Cape Mars 175k ...

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PwC Greece – Annual Finance Update for the Shipping Industry

PwC Greece shared its insights on the key topics that are currently shaping the landscape for the shipping industry during a virtual, 2 days event titled “The Annual PwC Update for Shipping Industry Finance Professionals”. The event was organized in January 2021 and was attended by more than 100 shipping finance professionals who were updated by PwC experts on a number of key issues that impact shipping companies. In a constantly challenging and unpredictable business landscape, the maritime industry is reshaping and gradually adapts to the new developments. Μs. Santos ...

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Star Bulk Carriers Corp. Announces Delivery of Three Capesize Vessels

Star Bulk Carriers Corp. a global shipping company focusing on the transportation of dry bulk cargoes announced today that it has taken delivery of the three capesize vessels E.R. BAYONNE, E.R. BUENOS AIRES and E.R. BORNEO (the “Vessels”) from entities affiliated with E.R. Capital Holding GmbH & Cie. KG (“E.R.” or “Sellers”), pursuant to the transaction previously disclosed on December 17, 2020. The Cash Consideration of the transaction was financed through proceeds of a new five-year term loan from a leading European financial institution. Following these deliveries, the Company has ...

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