Industry Trends

by hellenicshippingnews… on 22 November 2024 at 10:00 pm

A new record has been set by China in terms of coal imports during the Jan. – Oct. period of 2024. In its latest weekly report, shipbroker Banchero Costa said that “global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels. In Jan-Oct 2024 the …

by hellenicshippingnews… on 22 November 2024 at 10:00 pm

Pyxis Tankers Inc., an international shipping company, today announced unaudited results for the three and nine-month periods ended September 30, 2024. Summary For the three months ended September 30, 2024, our Revenues, net were $13.8 million an increase of $2.7 million, or 24.3%, over the comparable quarter in 2023. For the same period, our time …

on 22 November 2024 at 7:53 pm

Major retailers such as Ralph Lauren and Target say they successfully mitigated disruptions from the early October port strike and are ready for the next labor threat and the fallout from likely higher tariffs on Chinese goods.

by hellenicshippingnews… on 22 November 2024 at 6:00 pm

EuroDry Ltd. (NASDAQ: EDRY, the “Company” or “EuroDry”), an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it has signed a contract with Nantong Xiangyu Shipbuilding for the construction of two 63,500 DWT ultramax bulk carriers. Both vessels are geared, eco, and are built to EEDI …

on 22 November 2024 at 3:16 pm

Converting an existing vessel to be able to operate on methanol requires major engineering work and could cost more than building a new ship with a shorter time to depreciate the investment, according to the carrier.

by hellenicshippingnews… on 21 November 2024 at 10:00 pm

The latest COP29 proves that there are large forces at play, when it comes to the economy’s decarbonization. In its latest weekly report, shipbroker Xclusiv said that “COP29, which began on 11th November 2024 and will continue until 22nd November 2024 in Baku, Azerbaijan, has been widely referred to as the “Finance COP” due to …

on 21 November 2024 at 2:47 pm

Frontloading and Red Sea diversions pushed volume and rates higher in the third quarter, and ongoing geopolitical disruption will allow carriers to extend their robust financial health into next year, according to the founder of the global equity firm.

on 21 November 2024 at 2:00 pm

A dearth of consolidation means there are still plenty of visibility vendors for shippers to choose from, but it also means the market as a whole is on somewhat unsteady ground.

on 21 November 2024 at 1:00 pm

While there is some frontloading of US imports from China to get ahead of expected tariffs in the coming Trump administration, most cargo owners appear to be holding their fire, writes Journal of Commerce Executive Editor Mark Szakonyi.

by hellenicshippingnews… on 20 November 2024 at 10:00 pm

The ship recycling market is looking for additional catalysts to pick up pace. In its latest weekly report, Best Oasis (www.best-oasis.com), one of the leading cash buyer of ships globally said that “this week, recycling markets across regions like South Asia and Turkiye remained largely subdued, showing mixed trends. In India, a modest post-festival demand …

on 20 November 2024 at 9:58 pm

The carrier’s CFO pointed to the rising ratio of US retail sales to inventories as a sign that retailers are still bringing in new inventory.

on 20 November 2024 at 9:03 pm

Donald Trump has promised to stop US offshore wind projects on “day one” of his administration, but stakeholders say they are cautiously optimistic that momentum from existing projects and leases could help ease his resistance.

on 20 November 2024 at 2:40 pm

NVOs will enter 2025 hoping that their experience this year with carriers taking a get-tough approach to their business dealings was merely cyclical, a product of an unusual market following the Red Sea diversions and an early peak season.

on 20 November 2024 at 12:00 pm

MPV operators are hopeful the incoming Trump administration will build on Biden’s support for nuclear power generation, which would boost cargo volumes.

by hellenicshippingnews… on 19 November 2024 at 10:00 pm

Increased levels of newbuilding contracting activity seem to be the norm during 2024 and last week was no exception. In its latest weekly report, shipbroker Banchero Costa said that “the newbuild tanker sector remains busy. Cosco Shipping Energy Transportation (CSET) secured 6 x 307,000 dwt VLCCs (conventional fuel propulsion) at Dalian Shipbuilding Industry. The vessels …

by hellenicshippingnews… on 19 November 2024 at 10:00 pm

Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that it has mailed proxy materials to shareholders in connection with its upcoming 2024 Annual General Meeting of Shareholders (the “Annual Meeting”), scheduled to be held on December 17, 2024. Shareholders of record as of the close of business on …

by hellenicshippingnews… on 19 November 2024 at 10:00 pm

EuroDry Ltd., an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today its results for the three and nine-month periods ended September 30, 2024. Total net revenues for the quarter of $14.7 million. Net loss attributable to controlling shareholders, of $4.2 million or $1.53 loss per share basic …

by hellenicshippingnews… on 19 November 2024 at 10:00 pm

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that it has authorized a program under which it may from time to time in the future purchase up to 5,000,000 shares of the Company’s common stock. If the maximum number of shares of the Company’s common stock are purchased pursuant to …

by hellenicshippingnews… on 19 November 2024 at 6:00 pm

C3is Inc., a ship-owning company providing dry bulk and tanker seaborne transportation services, announced its unaudited financial and operating results for the third quarter and nine months ended September 30, 2024. OPERATIONAL AND FINANCIAL HIGHLIGHTS Our handysize dry bulk carriers are on time charters of short term durations, producing steady cash flows, while our Aframax …

by hellenicshippingnews… on 19 November 2024 at 6:00 pm

The Cyprus Shipping Chamber, participated at the high-level Hong Kong Global Maritime Trade Summit organised by the International Chamber of Shipping (ICS) in partnership with the Transport and Logistics Bureau of the Government of Hong Kong and the Hong Kong Shipowners Association, ahead of the formal opening of Hong Kong Maritime Week, on 17 – …