Newbuilding activity has witnessed a summer slowdown, but still several significant deals were concluded last week. In its latest weekly report, shipbroker Banchero Costa said that it was “a busy week for MSC: the company is expanding its fleet with a new contract at Zhoushan Changhong International Shipyard in China. The yard has confirmed that it will construct 12 x 19,000 TEU LNG dualfuel containerships for MSC, although pricing details remain under wraps. This contract builds on the established relationship between MSC and Zhoushan Changhong, which previously delivered 20 vessels ...

Over the past few months, scrapping activity has remained in the low end of things, as owners prefer to trade older ships, instead of scrapping them. In a recent weekly report, shipbroker Xclusiv said that “scrap activity remains subdued in 2024 mainly due to the combined impact of Russian sanctions and the Red Sea crisis. Another factor contributing to the decreased interest in scrapping, particularly within the tanker and gas sectors, is high demand for vintage vessels within the grey trade. These factors have increased shipping distances and driven freight ...

Capital Clean Energy Carriers Corp., an international owner of ocean-going vessels, announces today completion of our conversion from a Marshall Islands limited partnership named “Capital Product Partners L.P.” to a Marshall Islands corporation (the “Conversion”) and our adoption of a new corporate identity with a change in name to “Capital Clean Energy Carriers Corp.” and Nasdaq stock market ticker to “CCEC” (the “Name Change”). The Conversion and the Name Change are key milestones in our strategic pivot towards the transportation of various forms of natural gas to industrial customers, including ...

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is US$26,800 per day, minus a 5.00% commission paid to third parties, for a period of minimum twenty-three (23) months to maximum twenty-six (26) months. The charter is expected to commence on September ...

The Shipping Deputy Ministry announces that the Council of Ministers has today, 23 August 2024, approved the extension of the Contract for the Passenger Maritime Link between Cyprus and Greece for a further 3 years (2025, 2026, 2027), after evaluating the performance indicators, based on the number of passengers carried from 2022 until today. The Cyprus – Greece Passenger Maritime Link was embraced from the first year by the public with great success, exceeding all expectations, creating a new tourist market for travellers wishing to travel to and from Cyprus ...

The premier golf event, Greek Maritime Golf Event, is gearing up for its 10th anniversary year, set to take place on September 5-8, 2024, at Costa Navarino, in Messinia. The event will feature a rich schedule filled with golf and parallel activities for the executives of the Greek and global maritime industry. Golf against the background of the endless blue of the Ionian Sea Greek Maritime Golf Event is expected to gather more than 80 senior maritime executives, forming teams of four. Golfers will compete at the golf courses of ...

Navios Maritime Partners L.P. (“Navios Partners”) (NYSE: NMM), an international owner and operator of dry cargo and tanker vessels, today reported its financial results for the second quarter and six month period ended June 30, 2024. Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the second quarter of 2024. Navios reported revenue of $342.2 million and net income of $101.5 million. Earnings per common unit were $3.30 and our net loan to value was 31.6%.” Angeliki Frangou continued, “We are ...

Athens based Bluepool Panamax, a dry bulk shipping pool, is continuing to beat the benchmark Baltic Panamax Index (BPI) and is growing. Since its launch in April 2022, vessels entered in the pool have delivered consistently higher returns to their owners than those traded on an index-linked contract. In July, a further six third party owned vessels joined the pool. The pool, launched in early 2022, now consists of 17 vessels, making it a significant player in the market. Singapore based MPSL Diamond Pte has brought in its entire fleet ...

There are fewer than 200 endangered sperm whales of the eastern Mediterranean sub-population, living predominantly in the Hellenic Trench. This relatively small, endangered whale population is under threat from collisions with ships, known as ‘ship strikes’, which are a major cause of death and threaten the population with extinction. It is an encouraging sign however, that an increasing part of the shipping industry recognizes its responsibility and commits to rerouting measures – the Greek company Arcadia Shipmanagement is the newest addition to that list. Scientific studies show that the deaths ...

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Paralos Shipping Pte., Ltd., for one of its Kamsarmax dry bulk vessels, the m/v Astarte. The gross charter rate is US$14,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum July 15, 2025 up to maximum September 15, 2025. The charter is expected to co ...

Toro Corp. (NASDAQ: TORO), (“Toro”, or the “Company”), an international energy transportation services company, today announced its results for the three months and the six months ended June 30, 2024. Highlights of the Second Quarter Ended June 30, 2024: Total vessel revenues: $5.5 million, as compared to $24.9 million for the three months ended June 30, 2023, or a 77.9% decrease; Net income: $1.1 million, as compared to $55.4 million for the three months ended June 30, 2023, or a 98.0% decrease; Earnings per common share, basic: $0.001 per share, ...

Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), (“we”, “our”, “us”, the “Company” or “Pyxis Tankers”), an international shipping company, today announced unaudited results for the three and six month periods ended June 30, 2024. Summary For the three months ended June 30, 2024, our Revenues, net were $13.9 million. For the same period, our time charter equivalent (“TCE”) revenues were $12.2 million, an increase of $3.6 million, or 41.9%, over the comparable period in 2023. Our net income attributable to common shareholders for the three months ended June 30, 2024, ...

Prices for second hand bulk carriers have been rising, reflecting the overall positive trend in the dry bulk market. In its latest weekly report, shipbroker Intermodal said that “the dry bulk market has seen a rise in secondhand asset values this year. While average earnings have remained healthy, the ratio between earnings and asset values has deviated from historical trends, with asset prices rising disproportionately relative to average earnings. Despite these discrepancies, there has been strong interest in secondhand sales and purchase activity, pushing prices higher. This strong market activity ...

Okeanis Eco Tankers Corp. reported its unaudited condensed financial results for the second quarter and six-month period of 2024, which are attached to this press release. Financial performance of the Second Quarter Ended June 30, 2024 · Revenues of $112.0 million in Q2 2024, compared to $119.8 million in Q2 2023. · Profit of $39.6 million in Q2 2024, compared to $52.9 million in Q2 2023. · Earnings per share of $1.23 in Q2 2024, compared to $1.64 in Q2 2023. · Cash (including restricted cash) of $98.1 million as ...

Entrusted by the transferor (the Sellers), we have scheduled to hold a public bidding online (www.shipbid.net) from 10:00 to 10:30 (Beijing Time) on August 20th, 2024. 1.Bidding Object “SHUN PING 19”, Oil Tanker (flash point ≤ 60°C); Port of Registry: Zhoushan; Class: ZC; Navigation Area: Coastal; LOA: 95.60m; MLB: 15.80m; MLD: 7.50m; DWCC: 4460t; Full load draft: 5.950m; GT: 2994; NT: 1676; M/E: Ningbo C.S.I GN6320ZC14B, 1618kW@600rpm x 1 set; Built Date: December 9th, 2022; Builder: Zhoushan Ningxing Shipbuilding Co., Ltd. (All the information and data refer to the Ship ...