Greece News

ShipMoney Rolls Out Crew Payment Solutions

Seafarers employed on Tsakos-owned vessels operated under its management arrangement with Columbia Shipmanagement will now be paid electronically as opposed to by ‘Cash-by-Master’, under an agreement signed with global maritime payments provider ShipMoney.The deal means crewmembers will have complete control and access to their wages while onboard ship, including the timing and currency of remittances sent home. It will also dramatically reduce the need for large amounts of cash…

Intermarine UK Names Agent for Greece, Cyprus

UK-based maritime engineering company Intermarine UK has appointed the shipping agent Olimpic as its representative in Greece and Cyprus.Intermarine President Slawomir Kalicki said the new agreement will see Olimpic charged with bringing Greek and Cypriot-owned and registered ships into its 2400 sqm ship repair facility in Portland Port on England’s south coast.Olimpic president Georgios Orfanos, who was born in Poland to Greek parents, said he will be bringing an extensive contact…

American Club: Four Senior Appointments

Shipowners Claims Bureau, Inc. (SCB), Managers of the American Club, has announced several senior appointments which have been made to enhance the capabilities of its global service teams.At the Club’s headquarters in New York, Margaret Lee has been appointed as Lead Counsel. With 20 years of experience in the industry, Lee is a New York-admitted attorney who worked in private practice before joining the Club’s management several years ago. Lee has particular expertise in occupational disease claims and…

Piraeus Port Wins Environment Award

Piraeus Port Authority SA (PPA) was honored with a Special Award in the "Environment" category for the "Environmental Quality Monitoring Programs in collaboration with Academic Institutions and Special Scientific Associates” during the 4th Annual Sustainability Summit 2019, organized by the Centre for Sustainability and Excellence (CSE) in cooperation with the MBA International of the Athens University of Economics and Business.Upon receipt of the award, Mr. Nektarios Demenopoulos…

Cruise Meet at Posidonia Forum

The biennial Posidonia Sea Tourism Forum will be held from May 28-29, 2019, at the Domotel Kastri Conference Center, in Athens’ northern suburbs. Here there will be more than 30 senior cruise executives responsible for ports and destinations from the world’s biggest cruise lines, including MSC Cruises, Royal Caribbean Cruises, Holland America Group, Disney Cruise Line, Silversea Cruises, Fred Olsen Cruise Lines and Celestyal Cruises among others.Elisabetta De Nardo, VP Port Development…

ARC Loads Cargo in Thessaloniki

The largest U.S.-flagged roll-on roll-off (Ro-Ro) carrier American Roll-on Roll-off Carrier (ARC) said that its M/V Patriot loaded equipment for the Army’s 4th Combat Aviation Brigade (CAB) at the port of Thessaloniki.M/V Patriot moved a mix of helicopters, vehicles, containers and support equipment used to take part in Operation Atlantic Resolve for 4th CAB, which is returning to Fort Carson, Colorado. 4th CAB is being replaced by 1st CAB from Ft. Riley, Kansas, said a press release.Operation Atlantic Resolve has been ongoing in Europe since 2014…

"The best expedition cruise ship ever"

A cruise industry veteran of more than 25 years, Nikolaos Doulis, Lindblad Expeditions’ SVP, New Buildings, discusses with Maritime Reporter & Engineering News the build plan for “the best expedition cruise ship ever built.”Born in Greece to a seafaring family, Nikolaos Doulis was destined for a maritime career. His father was a ship captain and eventually a ship owner, and to support the family business he wanted his son to have an engineering education. So at the age of 14, Doulis started spending more time in and around ships…

World Shares Higher on US-China Deal Hopes

Global shares rose on Monday amid growing optimism the United States and China will reach a trade agreement as soon as this month.U.S. President Donald Trump and Chinese President Xi Jinping might seal a formal trade deal around March 27, given progress in talks between the two countries, the Wall Street Journal reported on Sunday.The two nations have imposed tit-for-tat tariffs on billions of dollars worth of each others' goods, roiling financial markets, disrupting manufacturing supply chains and shrinking U.S.

World Shares Higher on US-China Deal Hopes

Global shares rose on Monday amid growing optimism the United States and China will reach a trade agreement as soon as this month.U.S. President Donald Trump and Chinese President Xi Jinping might seal a formal trade deal around March 27, given progress in talks between the two countries, the Wall Street Journal reported on Sunday.The two nations have imposed tit-for-tat tariffs on billions of dollars worth of each others' goods, roiling financial markets, disrupting manufacturing supply chains and shrinking U.S.

Konecranes Noell Straddle Carriers to Thessaloniki

Konecranes has received an order from the Thessaloniki Port Authority SA for 12 Konecranes Noell Straddle Carriers. The delivery time is exceptionally short. The machines will be ready for acceptance in March 2019. The Thessaloniki Port Authority SA, a privately listed company, is the Concessionaire and Operator of the Port of Thessaloniki, Greece. The Port of Thessaloniki comprises a container terminal and a conventional cargo terminal. This order is part of an ambitious growth program that the Port of Thessaloniki has embarked upon.The straddle carriers on order are of the model NSC 644 E.

Hedge Funds Hunt for Shipping Debt

A growing number of hedge funds are moving into shipping debt, an asset class few have invested in before, looking to buy up loans and bonds as banks cut their exposure to the troubled sector.World economy worries and cost pressures are dampening prospects for a proper recovery in many segments of the shipping sector, which has struggled with tough markets for a decade.Meanwhile European banks, particularly German lenders, are trying to offload distressed and performing loans…

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…

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…

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…

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…

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…

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.

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…

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.

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…

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…

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…

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…

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…