Greece News

Piraeus Port Signs MoU with Italian Ports

The Greek port of Piraeus signed a memorandum of understanding (MoU) with Italy’s port authorities from the cities of Venice and Chioggia.The agreement seeks to develop port services and promote increased trade flow between Europe, the Mediterranean and the Far East.The MoU was signed during a meeting between the chairman and CEO of Piraeus port Fu Chengqiu and the president of the Northern Adriatic Sea Port Authority (Venice and Chioggia) Pino Musolino.The MoU envisages cooperation in improving the exchange of best practices and knowhow in port management…

Milaha Launches BSX

Middle East's maritime and logistics company Milaha (Qatar Navigation) will start a direct container shipping service connecting the Black Sea and the Mediterranean in its first foray into Europe.According to a press release from the Qatar-based maritime transport and logistics conglomerate the new feeder service marks Milaha’s first European service linking the Mediterranean and Black Sea. The BSX demonstrates Milaha’s commitment to deliver reliable and agile services to its customers and partners globally.The BSX rotation is Piraeus (Greece)…

UAE, Greece, USA: Worst Vessel Dumpers

The United Arab Emirates (UAE), Greece and the United States of America (USA) top the list of country dumpers of ocean-going commercial vessels in 2018, according to new data released today by the NGO Shipbreaking Platform.UAE owners were responsible for the highest absolute number of ships sold to South Asian shipbreaking yards in 2018: there were 61 ships in total.Greek owners, beached 57 vessels out of a total of 66 sold for demolition. American owners closely followed with…

2,275 Migrants Perish in Mediterranean in 2018

Six people died each day attempting to cross Mediterranean in 2018, the latest ‘Desperate Journeys’ report, released by the UN Refugee Agency said.According to the report by United Nations High Commissioner for Refugees (UNHCR), an estimated 2,275 died or went missing crossing the Mediterranean in 2018, despite a major drop in the number of arrivals reaching European shores.In total, 139,300 refugees and migrants arrived in Europe, the lowest number in five years, it said.“Saving lives at sea is not a choice…

LNG REPORT: LNG Bunkering Vessels Rise to Nine, 30 More to Come

The liquefied natural gas (LNG) bunkering infrastructure is expanding globally and there are increasing numbers of LNG-bunker vessels which are encouraging other operators to adopt LNG.According to SEA\LNG,  the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, from limited availability at select ports, LNG bunkering has grown to encompass 24 out of the world’s top 25 and all but one of the top ten bunker…

Moore Stephens: Leaner, Greener Shipping Will Attract Investment in 2019

Accountant and shipping adviser Moore Stephens says shipping will continue to attract investors in 2019 if it fulfills its ESG (environmental, social and governance) responsibilities.In the latest issue of Bottom Line, the Moore Stephens shipping sector newsletter, Richard Greiner, a partner in the firm’s Shipping & Transport team, says, “It has been suggested that the future is very much like the present, only longer. Should that prove to be the case for the shipping industry…

Carnival to Launch Four Ships in 2019

Carnival Corporation announced it will launch four new cruise ships in 2019 across three of its leading global brands – Carnival Cruise Line, America's Cruise Line; Costa Cruises, the largest European cruise operator; and Princess Cruises,  international premium cruise line. The world will get a preview of one of these spectacular new vessels when Carnival Cruise Line debuts a floral replica of its new Carnival Panorama sailing down Colorado Boulevard in the Rose Parade on New Year’s Day…

Navios Acquisition Completes Navios Midstream Merger

Greece-based Navios Maritime Acquisition Corporation announced that it completed the acquisition of Navios Maritime Midstream Partners. "Following the close of the market on December 13, Navios Midstream common units no longer are publicly traded on the New York Stock Exchange," said a press release from the owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.Angeliki Frangou, Chairman and Chief Executive Officer…

TEN: Cautious Optimism on Shipping Market

The provider of seaborne crude oil and petroleum product transportation services Tsakos Energy Navigation Limited (TEN) said that though the tanker market showed upward trajectory, management will keep a close eye on developments and refine its employment approach.The Greece-based tanker company said in a stock exchange annoucement that "As we approach the end of 2018, the signs that the worst is behind are becoming increasingly evident. Global oil demand is continuing its upward…

Gothenburg-Belgium RORO Traffic Goes Up

Ro/Ro traffic between Sweden and the continent are increasing, as volumes between Gothenburg and Belgium have risen for the ninth consecutive year. During this period volumes between Belgium during have doubled, and the number of departures has risen from 12 to 16.Shipping companies are also in the process of expanding their networks from Gothenburg across large parts of Europe – often via the Belgian ports in Ghent and Zeebrugge, which act as hubs for intra-European ro-ro traffic.During 2017…

Diana Shipping Fixes m/v Alcmene with BG Shipping

Greece-based Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with BG Shipping Co., Limited, Hong Kong, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene.The global shipping company specializing in the ownership of dry bulk vessels said in a press note that the gross charter rate is US$11,500 per day, minus a 5% commission paid to third parties, for a period of minimum 11 months to maximum 14 months.

Star Bulk Carriers Reports Profit for Fourth Consecutive Quarter

The global shipping company focusing on the transportation of dry bulk cargoes Star Bulk Carriers Corp announced the third quarter ended September 30, 2018 marks the fourth consecutive profitable one.The Marousi, Greece-based company said that the total revenues for the third quarter of 2018 increased to $188.5 million from $80.8 million in the third quarter of 2017.Petros Pappas, Chief Executive Officer of Star Bulk said: "we achieved $128.7 million in TCE Revenues, $80.1 million in Adjusted EBITDA and Net Income of $26.1 million.

Global Ship Lease Closes Poseidon Containers Deal

Marshall Islands-based Global Ship Lease (GSL) announced that it has completed the proposed merger deal with Greece's Poseidon Containers.According to a release from GSL, the combined company will have a fleet of 38 vessels with a total capacity of 198,793 TEU, and, as of September 30, 2018, an average fleet age weighted by TEU of 10.7 years, and with the recently announced new charters, contracted revenue of approximately $720 million. "The closing of the merger creates a market leader with an asset base of more than $1.3 billion…

Seanergy Maritime in Leaseback, Refinancing Pact with Cargill

The dry bulk cargo shipping company Seanergy Maritime Holdings announced has successfully concluded the refinancing of the 2011-built Capesize M/V Championship through a leasing agreement with Cargill International.The Nasdaq listed shipping company based in Greece informed that the refinancing has released approximately $7.8 million of liquidity for the Company.Pursuant to the agreement, the Company has chartered back the Vessel on a bareboat basis and subsequently entered it…

TOP Ships Signs New TC with BP

Greece-based ship-owning company TOP Ships announced that it has agreed a new time charter employment contract for 2 years with BP Shipping Ltd for its product/chemical tanker M/T Eco Revolution.The international owner and operator of modern, fuel efficient “ECO” tanker vessels currently focusing on the transportation of crude oil and petroleum products, said in a press release that the new time charter will commence in January 2019 immediately after the expiry of the present…

The 2020 Global Sulphur Cap: ABS Aid for Greek Shippers

Leading Greek shipping industry stakeholders joined ABS, a global provider of classification and technical advisory services to the marine and offshore industries, for a workshop on drafting 2020 sulfur limit Ship Implementation Plans (SIP).Intended to help shipping companies and crew ready their vessels for compliance with the required sulfur content limit of 0.50% by 1 January 2020, the ABS workshop identified risks associated with design and operations of vessels in relation to the IMO regulation, including a HAZID study.

Piraeus Port Urges Greece to Speed Up Investment Plan Approval

Piraeus Port Authority (PPA), operator of Greece's largest port, wants the Greek government to speed up the approval of an investment plan that aims to attract more business to one of Europe's largest harbours, executives said on Friday.PPA, majority owned by China's COSCO Shipping , is awaiting the green light from Greece's shipping ministry to proceed with mandatory investments based on its concession agreement with the Greek state.Approval of PPA's so-called master investment plan…

McLoughlin Joins North P&I Underwriting Team

Global marine insurer provider North P&I Club has further strengthened its underwriting team with the appointment of a new U.K. based underwriter combined with some operational changes to a number of senior underwriting roles.Tom McLoughlin joined the team as an Underwriter last week, bringing with him a range of marine experience from his former roles with insurance brokers Marsh in London, and a significant tanker management company in Athens. Initially McLoughlin will work across all of the regional teams as he settles into his new role with the Club.Earlier in the year…

HudsonAnalytix and SQE Marine Team Up

SQE Marine of Piraeus, Greece, and HudsonAnalytix, headquartered in the Philadelphia, announced they have formed a Teaming Agreement between their respective organizations for collaboration in the broad area of maritime risk management. They will be working jointly to offer one another’s services and products to the shipping industry and to develop new offerings encompassing compliance, training and consulting.HudsonAnalytix and SQE Marine boast both diverse and complimentary capabilities and regional strengths.

Harley to Lead Britannia's Greek Office

London based P&I club Britannia said it has finalized plans to open its Greek office in Piraeus as part of an ongoing expansion of the club’s regional hub network.The Greek office will be headed by David Harley who recently returned to the London office having established and worked for over five years as head of Britannia, Hong Kong. Harley will be assisted by newly appointed Konstantinos Samaritis, who joins from a Greek shipowner, having previously worked for both Standard and Skuld Clubs’ Greek operations.

Pyxis Tankers Refinances Modern Tanker

Greece-based Pyxis Tankers announced that it had successfully completed the refinancing of a previous loan facility for the Pyxis Epsilon.The emerging growth pure play product tanker company said in a press release that after repayment of existing bank debt, the new 5 year secured loan provided us approximately $7.3 million of additional net proceeds for general corporate purposes. Valentios Valentis, our Chairman and CEO said:"We welcome a new lender to our company. Blue Ocean Maritime funds managed by EnTrustPermal provided us $24.0 million of new debt.

Kongsberg to Deliver Simulator Package to GasLog

Kongsberg Digital (KDI) will deliver to GasLog a comprehensive liquefied natural gas (LNG) simulator package designed to enable new levels of safety and operational training for the owner/operator’s professional crews.GasLog operates 27 LNG vessels through its subsidiary, GasLog LNG Services and has seven ships currently on order. The KDI contract represents a commitment and investment on GasLog’s part to provide a high-level training environment for their crews, solely focused on LNG operation.The scope of supply is based on an integrated…

DFDS: New Intermodal Link Between Sweden and Turkey

Denmark-headquartered shipping company DFDS is offering a new connection between Sweden and Turkey following its recent acquisition of Turkish company UN Ro-Ro.Through the Sweden – Turkey intermodal connection now in effect, the carrier offers connections from Gothenburg in Sweden to Trieste in Italy, Patras in Greece and Pendik, Ambarli and Mersin in Turkey.By connecting the existing DFDS network in northern Europe with the new routes in southern Europe and the Mediterranean Sea, DFDS is capable of offering transportation of cargo from North to South and back.

China Tops Leading Maritime Nations of the World: Menon Economics

The 2018 report on the “Leading Maritime Nations of the World” ranks China as the world’s leading maritime nation, placed among the top four on all the maritime pillars in the ranking. China’s position is particularly strong in shipping and ports & logistics.The study conducted by Menon Economics benchmarks the 30 leading maritime nations around the world in four key maritime pillars: shipping, finance and law, maritime technology and ports & logistics, in an attempt to understand the key drivers behind national maritime success.

Greek Seamen End Strike after Reaching Deal on Wage Increase

Greek seamen on Tuesday called off a strike that had kept ferries and passengers stranded in ports around the country, after reaching a deal with employers on a wage increase.The strike, which started at 0600 (0300 GMT) on Monday, was led by the PNO seamen's federation and other unions including dockers and merchant marine engineers.The PNO had initially planned to continue the strike to Wednesday but said it would end it after reaching an agreement with employers on a 2 percent pay rise this year, its members' first increase for eight years.The walkout forced many holidaymakers to seek altern

The Digitalization of Tanker Logistics

The tanker business carefully dips its toes into the digital chartering, analytics and big (data) pond. It is a work in progress.Like every other business, raw materials, refined products and petrochemicals, are undergoing unprecedented waves of digitalization. However, shipping is one linkage, albeit an important one, within the much bigger supply chains for crude oil and products. But cargo is king, raising an important question: Will future efforts to link ship chartering, and ship brokerage…