News

As fuel and raw material prices continue to rise and shipping prepares for another challenging year ahead, the need for shipowners to deliver optimum efficiency within their operations is greater than ever. Shipowners are increasingly evaluating

The eurozone faces historical times for its future with Greece and Italy shaking the restored confidence that the last summit of Brussels brought in euro. The last week passed with all eyes of the word being turned on Athens and rising fears on rumors

Despite the respite of tanker freight levels during the past week, things haven’t just turned beautiful for tanker owners, especially those with a high leverage. According to London-based shipbrokers Gibson, the pain and the doldrums are here to stay for a while.

In its latest monthly report on the oil and tanker market for October, OPEC said that the organization’s spot fixtures increased by 5% in October to average 11.8 mb/d, up from 11.23 mb/d in September, as per preliminary data. The increase is attributed to higher

Well established ship manager, Chandris (Hellas) has chosen Lloyd’s Register to provide a wide range of ship energy efficiency services. Chandris’ aim is to enhance its in-house capacity to identify appropriate key performance indicators and application

Following on in a series of op-eds submitted by BDS, Allison Maykuth discourses on the maritime security-related issue of evolving tactics of pirates as they meet the challenges of the international forces and organisations. The consequences

Ship owners could soon have to rush to scrapyards across the Indian subcontinent or other countries, in order to achieve better prices for the sale of their older vessels for scrap. In what could trigger more sales of ships for demolition and in that way,

Traders and investors who bet on the cost of shipping oil may decide next week to move pricing of derivatives away from a method dating back half a century in an effort to spur use of the contracts.About 50 users of the tanker derivatives will meet

Container ship operators are ordering ever larger vessels even in the face of a weak freight and time charter environment during 2011, says Braemar Seascope. This may appear to be counter-intuitive. In fact, it reinforces a trend that is at least five years old.

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results for the third quarter and nine months ended

The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which have seen the market’s benchmark, the Baltic Dry Index (BDI) reaching a seven-week low.

Aegean Marine Petroleum Network Inc. yesterday announced financial and operating results for the third quarter ended September 30, 2011.The Company recorded net income for the three months ended September 30, 2011 of $5.3 million,

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced yesterday its results for the three and nine month periods ended September 30, 2011.

Tonnage oversupply issues has been the biggest problem hindering freight rates across most shipping markets since last year. Despite record breaking scrapping of older vessels, things haven’t improved much. Still, in its latest weekly report,

U.S. imports on the world’s biggest trading route are dropping for the first time in almost two years as consumer confidence weakens to the lowest level since the recession that ended in 2009.Container volumes on the Asia-to-U.S. route fell 3.8 percent

Paragon Shipping Inc., a global shipping transportation company specializing in drybulk cargoes, announced yesterday that it has entered into fixed rate time charter agreements for two of its Panamax Vessels, M/V Kind Seas, and M/V Golden Seas with

The latest rally of the dry bulk market proved to be shortlived as analysts had indicated. The industry’s benchmark has been on a free fall once more for the past couple of weeks, swiftly erasing the gains of the past couple of months, which saw the market

Danaos Corporation, a leading international owner of containerships, yesterday reported unaudited results for the period ended September 30, 2011.Danaos' CEO Dr. John Coustas commented: This quarter we experienced one of the most sudden

DryShips Inc. or the Company, a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off-shore deepwater drilling services, yesterday announced

So far this year, demolition of older vessels has been feverish, in an attempt by ship owners to help alleviate the tonnage oversupply pressures that the global shipping market has been dealing with, in almost every shipping trade, from dry bulk to tanker.