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  • Light at the End of the Tunnel for Ship Recycling
    by hellenicshippingnews.. on 3 June 2020 at 21:00

    The ship recycling market seems to be geared to come back to life after a prolonged period of hiatus. In its latest weekly report, shipbroker Clarkson Platou Hellas, commented that “with various reports this week suggesting the lockdown across the Indian sub-continent were set to be lifted after the Eid celebrations, there have been further ... […]

  • Pyxis Tankers Reports Higher First Quarter Revenues on Improved Chartering Environment
    by hellenicshippingnews. on 3 June 2020 at 21:00

    Pyxis Tankers Inc., a growth-oriented pure play product tanker company, announced unaudited results for the three months ended March 31, 2020. Summary For the three months ended March 31, 2020, our Revenues, net were $6.6 million and our time charter equivalent revenues increased by $0.2 million, or 3.8%, to $5.0 million compared to the same ... […]

  • Chartering Policy Insulates Castor Maritime Inc. From Market Headwinds
    by hellenicshippingnews. on 3 June 2020 at 09:00

    Castor Maritime Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced its results for the three months ended March 31, 2020. Earnings Highlights of the Three Months Ended March 31, 2020: Revenues, net: $2.7 million for the three months ended March 31, 2020, as compared to $0.9 million for the ... […]

  • Newbuilding Market of “Two Worlds”
    by hellenicshippingnews. on 2 June 2020 at 21:00

    Ship owners have reentered the newbuilding market, but only for the segments which have shown the most potential. In its latest weekly report, shipbroker Allied Shipbroking said that “the vast difference in sentiment being noted between the dry bulk and tanker sectors was perfectly depicted last week in the newbuilding market. On the one hand, ... […]

  • China’s Iron Ore Imports Could Offer Some Respite in the Dry Bulk Market
    by hellenicshippingnews.. on 1 June 2020 at 21:00

    A boost in dry bulk demand, mainly from China, would go a long way into alleviating fears of a new crash in the dry bulk market. In fact, signs over the first few months of the year had been encouraging. In a recent report, shipbroker Banchero Costa said that “iron ore trade remains remarkably resilient ... […]

  • Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Phaidra With Uniper
    by hellenicshippingnews.. on 1 June 2020 at 21:00

    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 Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$9,400 per ... […]

  • Tanker Newbuildings Hard to Come By
    by hellenicshippingnews.. on 31 May 2020 at 21:00

    New tonnage in the tanker market could become scarce in the next few years, in what appears to be a silver lining amid the pandemic. In its latest weekly report, shipbroker Gibson said that “setting aside the exceptional volatility in tanker rates, Covid-19 outbreak and the dramatic changes in world oil markets, one of the ... […]

  • West Africa Market Could Support Tanker Rates
    by hellenicshippingnews.. on 29 May 2020 at 21:00

    Crude tanker owners could use some good news, as they are preparing to enter a period of uncertainty, following the expiry of the contango effect, which boosted their earnings in the short-term. In a recent weekly note, Banchero Costa detailed the current trends in the West Africa market. According to the shipbroker, “seaborne crude oil ... […]

  • Euroseas Ltd. Reports Increase of 85% in First Quarter Net Revenues, but Warns of Challenging Market Environment for the Rest of 2020
    by hellenicshippingnews. on 29 May 2020 at 09:00

    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 ended March 31, 2020. First Quarter 2020 Financial Highlights: • Total net revenues of $15.4 million. Net income of $2.0 million; net income attributable to common shareholders (after a ... […]

  • Global Economy’s Rebound Will Determine Shipping’s Turnaournd as Well
    by hellenicshippingnews.. on 28 May 2020 at 21:00

    As various governments around the world are gradually shaping their stimulus and policies to jolt their economy, the shipping industry is eagerly waiting for them to take effect and translate into a growth in global trade. In its latest weekly report, shipbroker Intermodal said that “earlier in May, China’s top leaders convened for the annual ... […]

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