Seanergy Maritime Holdings Corp. announced that its Board of Directors (the “Board”) has determined to effect a 1-for-10 reverse stock split of the Company’s issued and outstanding shares of common stock, effective at the opening of trading on February 16, 2023. At the special meeting of the shareholders of the Company held on February 7, 2023, Seanergy’s shareholders approved a reverse stock split by a ratio of not less than 1-for-8 and not more than 1-for-12 and granted the Board the authority to determine to effect the reverse stock split ...

Euroseas Ltd., an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today its results for the three-month period and full year ended December 31, 2022. Fourth Quarter 2022 Financial Highlights: Total net revenues of $42.9 million. Net income and net income attributable to common shareholders of $20.3 million or $2.87 and $2.86 earnings per share basic and diluted, respectively. Adjusted net income attributable to common shareholders1 for the period was $17.7 million or $2.50 per share basic and diluted. Adjusted EBITDA1 was ...

There wasn’t too much movement in the S&P or the newbuilding markets this past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “a very quiet week for Newbuilding orders, with only one notable deal coming to light. Advantage Tankers have contracted three Suezmax tankers from the Daehan yard in South Korea. This will bring their Suezmax fleet to 10 vessels and the total fleet to 26 vessels. For the shipbuilder, this order represents the second of the year and brings the total for new orders ...

Kpler, the leading provider of commodities data, analytics, and market insight, announced today that it has acquired MarineTraffic and FleetMon; two providers of global ship-tracking data and maritime analytics. The deal follows an earlier acquisition of FleetMon by MarineTraffic, resulting in a coordinated double acquisition for Kpler in the maritime analytics space. Since its founding in 2007, Athens-based MarineTraffic has become an integral part of the maritime industry by spearheading innovation that has made ship tracking intelligence and analytics widely accessible. Rostock-based FleetMon, also founded in 2007, provides AIS data ...

Imperial Petroleum Inc., reported its fourth quarter and 2022 full year results. Fleet operational utilization of 79.4% in Q4 22’ mainly due to the drydocking of two vessels and the repositioning of one of our Suezmax vessel. 42% of our fleet days dedicated to spot activity in Q4 22’capturing high spot charter rates. Revenues of $37.9 million in Q4 22’ – up $33.9 million or 847.5% from Q4 21’. Net income of $13.8 million in Q4 22’ compared to a $1.5 million loss in Q4 21’. EBITDA of $17.8 million ...

Marinetrans (part of GTS Group), a logistics service provider specialized in supply chain solutions for ship owners and ship management companies, has acquired Door To Deck (D2D), a marine logistics specialist in Cyprus and Greece. Marinetrans already had an office in Athens, and will gain a substantially larger presence in Greece with this acquisition. The co-founders of D2D, Kyriakos Tsitouridis and Michalis Theodosiou, will be driving further business development of D2D, Marinetrans and GTS in the entire Mediterranean area and will become shareholders of GTS Group. John Burgstra, co-CEO of ...

On February 11th, 2023, the annual meeting of CMA D. ARGOUDELIS & CO S.A. took place at PLOES Floating Venue. The management welcomed more than 100 guests, to celebrate once more, a successful corporate year. This year’s “Pie Cutting Event” had everything: motivation, inspiration, festive mood & happy faces! The CEOs of CMA D. ARGOUDELIS & CO S.A., Mr. Ioannis Argoudelis & Nikolaos Argoudelis, in a truly festive atmosphere, wished to everybody a happy New Year and congratulated all employees for their valuable contribution to the company’s success. They looked ...

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and twelve month periods ended December 31, 2022. The Board of Directors of the Company also declared a cash dividend of $0.05 per share of outstanding common stock. Management Commentary Dr. Loukas Barmparis, President of the Company, said: “Revenues and EBITDA, although still strong, declined from the 3rd quarter and year ago 4th quarter levels. Our balance sheet is strong, with significant cash and revolver capacity. Our net debt per vessel ...

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that it has signed a Memorandum of Agreement to acquire from an unaffiliated third party the m/v Nord Potomac, a 2016 built Ultramax dry bulk vessel of 63,379 dwt, for a purchase price of US$27.9 million. The Company anticipates to take delivery of the vessel by the beginning of April 2023. Excluding the newly acquired vessel, Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 10 ...

After months of financial constraints, things could soon start improving for ship recyclers in Bangladesh and Pakistan. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “there have been rumours circulating this week that the financial restrictions that have been imposed on the recyclers in Bangladesh may be eased in March or April, 2023. The problems surrounding the issuance of letters of credit over the last several months do appear to be improving, with more units reportedly being resold to the local recyclers, albeit the smaller ldt size”. ...

BMS United Bunkers, Bunkernet, and SBI bunkering BV, leading marine fuel supply companies, today announced that they have entered into a definitive merger agreement to create Baseblue, an industry leader in marine energy solutions. This merger of equals will result in a larger and financially more reliable company that can offer complete and dependable marine energy solutions to a broader clientele. Baseblue will offer a wider range of services, including alternative fuels, emissions trading, and digital optimization. An experienced management team consisting of the three well-tracked brands servicing top-notch clientele ...

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 ...

Dorian LPG Ltd., one of the world’s largest owners and operators of modern and ECO very large gas carriers (“VLGCs”), is pleased to announce that it took delivery on long-term Time Charter of the 2023-built Dual-Fuel LPG Carrier HLS Citrine. This is the first Dual-Fuel LPG VLGC to join our fleet. She will trade in the Helios LPG Pool which we operate jointly with MOL subsidiary, Phoenix Tankers. HLS Citrine is able to transit the old Panama Canal locks, reducing delays and costs compared to NeoPanama transits. She is the ...

TOP Ships Inc., an international owner and operator of modern, fuel efficient “ECO” tanker vessels, announced that it has entered into a time charter employment contract with a high-quality counterparty for its product/chemical tanker M/T Eco Marina Del Rey. The new time charter will commence immediately after the expiry of the present time charter employment contract in the 1st quarter of 2024 and will have a firm duration of 3 years with an additional year at the charterer’s option. The revenue backlog expected to be generated by this fixture is ...

There could be a shift in fortunes in completely opposite directions for various parts of the product tanker market in the weeks to come. In its latest weekly report, shipbroker Intermodal said that “with the Western sanctions on Russia’s oil products in full effect and a gloomy economic outlook for 2023, one can wonder how challenging will this year be for the CPP market. During the 2H2022 we witnessed severe shortages of diesel globally, with US inventories depleting to 106m bbls on Oct.7th (a 40-year low), EU distillate inventories dropping ...