• More than 30 dry bulk carriers are being sold...

    With the Baltic Dry Index (BDI) rebounding firmly and expectations abound that this is only the start of a new sustained recovery phase for the dry bulk market, ship owners are stocking up on new bulker acquisitions, in order to capitalize on the market’s rebound. 

  • Qatar's Milaha eyes investment in new markets

    Milaha has put in place a multi-year strategy focusing on investment in new markets, especially South East Asian, and expansion such as foraying into truck trading to achieve medium and long-term growth, according to its top official.

  • Seanergy Announces Proactive Covenant Deferral...

    Seanergy Maritime Holdings Corp. (the "Company") ( NASDAQ : SHIP ), announced today that it has entered into agreements with four of its senior lenders for the proactive waiver and deferral of the application date of certain major financial covenants. Based on these agreements the Company expects to be in compliance with all major applicable covenants concerning the Company and the respective borrowers or that such covenants will be waived and postponed until the second quarter of 2018.

  • Dry bulk ships’ prices are 25% higher, but...

    Shipowners’ demand for dry bulk carriers has been steadily growing, as can be evidenced by the surge in S&P activity throughout the course of the past five months. In fact, according to shipbroker Intermodal, prices have surged by 25% over the past eight months. Meanwhile, it’s also worth noting that demand isn’t limited to just one or two ship classes, but rather has been varying from small Handies up to Newcastlemaxes.

  • BIMCO ventures into ship finance with BIMCO...

    BIMCO presents SHIPTERM as being most useful to small and medium sized shipowners and banks with limited experience of negotiating ship financing facilities. BIMCO expects that all parties involved will save time and money by using SHIPTERM.

  • Ship Finance International Limited (NYSE:SFL)...

    Ship Finance International Limited (NYSE:SFL) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on March 02, 2017. The stock added about 8.3 percent in price since last results when it was at $13.48 a share. Based on the most relevant past-periods data, there is an 71.43 percent probability for this firm’s share price to go up following next quarterly results.

  • Scanship Holding ASA : Scanship awarded contracts...

    Scanship Holding ASA has through its subsidiary Scanship AS, been awarded contracts with the Italian shipbuilder Fincantieri for the supply of three total clean ship system, featuring food waste processing, garbage handling and advanced wastewater purification to meet the highest industry standard with nutrient removal. 


London: the world’s most resilient maritime centre?

Singapore has retained its title as the world’s top maritime centre in Menon Economics’ Leading Maritime Capitals of the World report for 2017.

Much of the press coverage has focused on this fact, largely overlooking the fact that London has risen from sixth place overall in 2015 to fifth place this year – despite the uncertainty of Brexit. It’s fair to say that none of the other maritime cities in the top five – Singapore, Hamburg, Oslo and Shanghai – have had to deal with such a massive economic spanner being thrown in their works. And still London has strengthened its global standing.


Cosco reported net profit of 37.7 million USD in Q1 2017

The largest Asian container line China Cosco Holdings reported net profit of 260 million CNY (37.7 million USD) for the first quarter of 2017, against a loss of 4.4 billion CNY during the same period last year. The company explained the improvement in the finance statement with the 54% increase in volumes to 4.65 million TEU, as a result of the merger with China Shipping Group and synergies after it, as well as recovery in the container shipping market. The finance report of China Cosco Holdings indicates that the average rate of China Containerized Freight Index (CCFI) for the first quarter was 825.3 points, which is 11.7% more than the same period last year, supporting the revenues of the company.


Lack of containers and delaying export in Europe after entering in force of shipping alliances

The restructuring of East-West route after establishing of container shipping alliances became more aggressive than earlier expected and many shippers suffered from lack of container units for their export. Mostly were affected the European ports in Black Sea, North Sea and Baltic Sea, as well as inland ports, which have much lower quantities of free units from the feeders, due to low inbound laden containers. There is a big congestion in the ports of Istanbul, Hamburg and Rotterdam, which additionally weight on the shipping flows. In many cases even the most expensive lines are overbooked and cannot provide free units for the shipping, which seriously affect the export and trade of Europe to Asia and Africa. Now many of the lines are overbooked for 1-2 months ahead and delays caused chaos on the trade lines.


Owners seek secondhand refinancing but lenders show little interest

With less new ships being ordered amid the severe oversupplied shipping market and vessel assets changing hands in light of restructurings, owners are starting to seek refinancing for secondhand tonnages, but bankers have expressed little or no interests in entering into deals for such passed down assets.


EIB signs agreement of 150 million euros to finance green shipping

The European Investment Bank and Dutch bank ABN Amro will sign an agreement today to support investments for greening the European shipping fleet. This framework is the first with a financial institution in the Netherlands and is supported by the “Connecting Europe Facility” and was made possible by the ”EFSI” (European Fund for Strategic Investments), central pillar of the Juncker Commission’s Investment Plan for Europe.


Japan and EU Protest DSME Bailout from S. Korean Government

Japan and the European Union officially raised concerns over the Korean government’s latest 2.9 trillion won ($2.5 billion) bailout plan to rescue cash-strapped Daewoo Shipbuilding & Marine Engineering at a working group meeting of the Organization for Economic Cooperation and Development in Paris, a government official said Wednesday.


To pool or not to pool

While the worst might be over for the dry bulk shipping sector, a full recovery is still some way off; the future remains fragile. With shipowners reluctant to settle for low rates for a long period of time, there has been an increased interest in pools.