October 18th, 20190Slow steaming regulation has been holed below the waterline with Greece jumping ship ahead of imminent discussions at the International Maritime Organization (IMO) headquarters to thrash out short-term measures to cut greenhouse gas (GHG) emissions from the sector. Greece - and many of its owners - had previously been strong backers...
October 18th, 20190Petros Panagiotidis-led Castor Maritime has entered into an agreement to acquire a 2005-built Japanese panamax dry bulk vessel for $10.2m. The name of the vessel and seller was not revealed, but the company says the seller is a third party in which Panagiotidis has an interest. Details suggest the vessel is Pavimar’s Imabari-built...
October 17th, 20195Ship financing is at its lowest level since the global financial crisis of 2008, according to the latest annual survey from Greece’s Petrofin Bank Research. The top 40 banks’ lending to shipping now stands at $300.7bn, the lowest level since Petrofin started monitoring the global portfolio in 2008. $44.3bn has been knocked off the...
October 17th, 20190Greek owner Chartworld Shipping and its affiliate company Nederland Shipping pled guilty in federal court in Wilmington, Delaware, to failing to notify the U.S. Coast Guard of a hazardous condition on one if its vessels and violating the Act to Prevent Pollution from Ships (APPS) by presenting false documents to the Coast Guard that...
October 16th, 20190Navios Maritime Partners has repaid its $418.5m Term Loan B via a series of refinancing measures. The refinancing includes a $301m financing from commercial banks, $49.5m through sale and leaseback transactions, and $66.7m from cash on its balance sheet. Angeliki Frangou, chairman and CEO of Navios Partners, commented: “We are...
October 16th, 20190Wuhan Maritime Court is going to sell the 2004-built 52,500 dwt supramax via online auction on November 10. The vessel was seized by the court at the request of the ship's crew due to salary payment dispute with the Greek owner Voyage Shipholding. The starting price for the vessel in the auction is RMB26m ($3.67m). MSI values the...
October 15th, 20190Nicholas G Moundreas’s NGM Energy has acquired 2000-built VLCC from German owner DS Tankers. According to Seasure Shipbroking, the Hitachi-built crude tanker was sold to NGM Energy for a price of $22m and the new owner has requested prompt delivery in order to deploy it into the hot crude shipping market. It is the third vessel...
October 11th, 20190Greece’s Port Planning and Development Committee has rejected a plan submitted by Cosco-controlled Piraeus Port Authority (PPA) to build a fourth container terminal at the port as part of a EUR800m ($881m) investment master plan. PPA's master plan includes the development of a new mall and hotels, a new cruise ship terminal, a new...
October 11th, 20190Greek dry bulk owner Diana Shipping has entered into a time charter contract with Dubai’s Al Ghurair Resources International for 2012-built post-panamax bulker . The charter is for a minimum of 12 months, up to 14 months, at a rate of $14,500 per day and commencing on October 23. Diana Shipping says the charter will generate...
October 10th, 20190George Economou’s offer to buy out the remaining shares of Nasdaq-listed DryShips has been voted through by shareholders, with the deal now set to complete tomorrow. Economou company SPII Holdings launched the offer to take DryShips private in June, and a definitive merger agreement was entered into in August. DryShips will...
