Tanker supply is edging near a 5-year low in many segments of the market. This development could bring positive news for tanker owners in the mid-term, which could also help make a case for more investment both in the S&P, but also in the newbuilding market in the coming months. In its latest...
Hellenic Shipping News
Performance Shipping Inc. Announces Appointment Of New Chief Executive Officer And Chief Financial Officer
Performance Shipping Inc., a global shipping company specializing in the ownership of tankers, today announced that its Board of Directors has appointed Mr. Andreas Michalopoulos to the position of Chief Executive Officer following the retirement of Mr. Symeon Palios from that position. The Board also has appointed Mr. Anthony Argyropoulos to the position of Chief …
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Tanker Market Should Take Note of China’s Climate Pledges
Tanker owners should be wary of China’s recent formal announcement, pledging its carbon neutrality goals, as they are bound to have an adverse effect on the country’s crude oil imports moving forward. In its latest weekly report, shipbroker Gibson said that “China’s announcement last month that it...
https://www.hellenicshippingnews.com/tanker-market-should-take-note-of-chinas-climate-pledges/
Tanker Market in “Lethargic” Mode During September
The tanker market’s performance during the month of September was lackluster to say the least. In its latest monthly report, OPEC said that dirty tanker rates remained lethargic in September, as tonnage demand continued to be weak and the unwinding of floating storage increased availability. After...
https://www.hellenicshippingnews.com/tanker-market-in-lethargic-mode-during-september/
Costamare takes maritime training to new heights with Wärtsilä Cloud Simulation solution
The technology group Wärtsilä has received yet another order for its advanced Cloud Simulation solution. The Costamare Maritime Training Services (Costamare MTS) centre in Greece is the latest facility to take advantage of the technology developed by Wärtsilä Voyage, enabling its students to continue their training despite travel and assembly restrictions imposed because of the …
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Crude Oil’s Wild Market Ride, Leaves Ship Owners in a Bind
The tanker market is bound to face more ups and downs, as disruptions in crude oil supply are dominating headlines. In its latest weekly report, shipbroker Allied Shipbroking said that “it has been a relatively bumpy ride these past few weeks for the crude oil market. The major disruptions noted by...
https://www.hellenicshippingnews.com/crude-oils-wild-market-ride-leaves-ship-owners-in-a-bind/
BlueInvest Thematic Workshop 2020 | Green Shipping
A one-day virtual event featuring investors’ pitches, corporate spotlight and entrepreneurs’ pitches in which they will have the opportunity to present innovative start-ups and projects in the Blue Economy sector (green shipping, smart ports, and maritime logistics industries) • 21st October •...
https://www.hellenicshippingnews.com/blueinvest-thematic-workshop-2020-green-shipping/
Newbuilding Orders Dry Out, But Investment in Second Hand Tonnage Still Rather Active
Public holidays in China and S. Korea have eroded investment appetite in the newbuilding market over the course of the past week. In its latest weekly report, shipbroker Allied Shipbroking said that “it was another week with limited interest from potential buyers for newbuilding projects in both...
Pyxis Tankers Announces Closing of $5.0 Million Public Offering of Convertible Preferred Shares & Warrants
Pyxis Tankers Inc., a growth-oriented pure play product tanker company, today announced the closing of its previously announced underwritten public offering (the “Offering”) of 200,000 Units at an offering price of $25.00 per Unit. Each Unit is immediately separable into one 7.75% Series A Cumulative Convertible Preferred Share (the “Preferred Shares”) and eight (8) warrants, …
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Demolition Market Activity Could Tumble on Improving Freight Rate Market Conditions
Plenty of ships were sold for scrap over the past week, however, as rates for both the dry bulk and the container markets soared, demolition candidates are bound to diminish in numbers. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “with the Golden Week holiday period...