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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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MAR360, a new partnership between Tototheo Maritime and SRH Marine SAIT, shifts the maritime industry’s balances

One of the few global IoT leaders in digital, navigation and communication solutions for shipping companies, SRH Marine SAIT and leading maritime telecommunications and technology provider, Tototheo Maritime join forces, through a new company, MAR360. The name reflects the global reach of the new company and the complete range of innovative and efficient telecommunication services that it aims to provide. The partners are two of the most renowned organizations in the Greek, Cypriot and global shipping scene and have contributed to establishing Greece and Cyprus as maritime technology centers. “We ...

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Ships’ Recycling Market Need Careful Navigation as Prices Fluctuate

The demolition market underwent a major price correction during the past few days. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “following the accelerated prices witnessed over the festive season, and into 2021, which was driven by fresh optimism and firm global steel markets, we have had an unforeseen correction which caught all Buyers and stakeholders off guard, with a reported $30-40 ldt drop this week. This came late last Friday when the market became awash with tonnage, mainly from Cash Buyers releasing their own inventories, as ...

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Seanergy Maritime Holdings Corp. Signatory to the Neptune Declaration on Seafarer Wellbeing and Crew Change

Seanergy Maritime Holdings Corp. announced that it has joined the “Neptune Declaration on Seafarer Wellbeing and Crew Change” (the “Neptune Declaration”), a global coalition between over 300 companies and organisations. This maritime initiative focuses on the seafarers’ welfare with actions that will, amongst others, facilitate crew changes during the pandemic and the ongoing lockdowns. The Neptune Declaration’s four major aims are: • Recognize seafarers as key workers and give them priority access to Covid-19 vaccinations • Implement high-standard health protocols • Increase collaboration between ship operators and charterers to facilitate ...

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Dry Bulk Market is Bound for a Sustainable Rebound

The dry bulk market’s fundamentals are edging towards an improvement, in favor of ship owners. In its latest weekly report, shipbroker Intermodal said that “while 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even speculate that 2021 will be a better year, even if the bar is set too low given to “what went down” last year”. According to Intermodal’s SnP broker, Mr. Timos Papadimitriou, “the reality is that positive signs especially for the ...

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Brazil’s Importance in the Crude Tanker Market Could Increase in the Coming Years

An ambitious plan to double Brazil’s crude production, could yield significant demand for seaborne crude tanker plays down the line. In its latest weekly report, shipbroker Gibson said that “since 2019 Brazil has become the top crude exporter in Latin America, with crude shipments (for all producers) reaching a record 1.4 million b/d last year. Further growth is likely, with Petrobras announcing its plans to double the company’s crude exports between 2021-2025 to 891,000 b/d from an average of 445,000 b/d. Under Petrobras’ new plan, domestic crude sales will drop ...

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LPG Trade: The US Market Dominated During 2020

The US market for LPG has cemented its place as a global leader during 2020, with exports in particular ending the year on a positive note, versus a decline in the rest of the world. In its latest weekly report, shipbroker Banchero Costa said that “as crude oil and natural gas processing increased with the United States’ fracking revolution, the USA have rapidly emerged as the world’s largest producer and exporter of liquefied petroleum gas. Having turned into a net exporter of LPG as recently as 2011, the USA now ...

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2021: What to Expect of the Freight Market?

Shipbrokers are trying to gauge the state of the freight markets, as 2021 is already on course, but with many unknowns. In its latest weekly report, shipbroker Allied Shipbroking said that “with any New Year, start new beginnings and many are already in pursuit of setting off this one on the “right” foot. Now, that we have a clearer picture of the year that just passed, where does that leave us in terms of what to expect for the one ahead? Repetitive as it may be, functioning under a tail-risk ...

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Cybersecurity Specialist Chooses Athens for its Next Step of Expansion in the European Market

Nettitude announced the location of our new office in Athens. This milestone is a major move for our global organisation as we continue to identify strategic locations in which to offer our 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 our cybersecurity services and skillset within the Greek market. As a Maritime nation by trade, Nettitude looks forward to developing strong links with Greek shipping organisation’s. Acting as ...

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Diana Shipping Inc. Announces Time Charter Contract for m/v Calipso With Viterra

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 Viterra Chartering B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Calipso. The gross charter rate is US$10,400 per day, minus a 5% commission paid to third parties, for a period until minimum October 1, 2021 up to maximum December 15, 2021. The charter is expected to commence tomorrow. The m/v Calipso was chartered, as ...

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Ship Owners Load up on Newbuilding Bulk Carriers

The current market sentiment appears to be rather bullish when it comes to dry bulk newbuildings. In its latest weekly report, shipbroker Allied Shipbroking said that “this was another impressive week for the dry bulk newbuilding market, with buying appetite seemingly being refreshed, reflecting the enhanced sentiment and the improving fundamentals. Focus was given last week on the Kamsarmax and Ultramax segments, with 12 new units being added to the orderbook. The rising momentum noted in freight rates, the healthier overall balance between demand and supply and the hope that ...

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