Panos

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Seadrill Agrees Joint Restructuring Deal with Creditors

Shipping tycoon John Fredriksen has reached an agreement with a majority of creditors over a restructuring plan for oil rig firm Seadrill Ltd, …

Cyprus: Natasa Pilides appointed Minister of Shipping

The President of the Republic of Cyprus has officially announced the new Ministers of the Government, and has appointed Ms. Natasa Pilides as the …

DryShips back in profit as revenue sharply increases

DryShips, a diversified owner of ocean going cargo vessels, announced its unaudited financial and operating results for the quarter ended December …

Saudi Arabia eyes Indian crude market comeback, new downstream ventures

Saudi Arabia was not bothered by “short-term fluctuations” in its share of crude oil supplies to India, the world’s third largest importer, and was …

Genco returns to profit

Genco, the largest U.S. headquartered drybulk shipowner focused on the transportation of major and minor bulk commodities globally, reported its …

Euroseas Returns to Profitability During Fourth Quarter

Euroseas announced its results for the three month period and full year ended December 31, 2017.<p><b>Fourth Quarter 2017 Highlights</b>:<p>Total net revenues of …

Distillate demand boost from shipping sulfur rules to be brief: IEA

A sharp increase in demand for distillates following new shipping fuel rules will fade quickly, the International Energy Agency said on Monday.<p>New …

Piraeus up in European port ranking

Piraeus ranks among the most dynamic ports in Europe in terms of container handling for 2017, according to data compiled by Port Economics.<p>Greece’s …

Norden back in black in 2017

Norden was profitable in 2017 following a strong performance in the fourth quarter of the year.<p>The company’s profit for the year ended December 31, …

HSH Nordbank bondholders “concerned” by sales process

Holders of €1bn principal of Tier 1 and upper Tier 2 notes in HSH Nordbank have said they are concerned by the proposed plan by its majority owners, …

HSFO moves from Japan to Singapore in rare export amid refinery issues: sources

The high sulfur fuel oil market in Asia was seeing rare exports of 380 CST material from Aichi, central Japan, to Singapore, amid market talk of …

Total Closes Maersk Oil Acquisition; Becomes 2nd-Largest Operator in North Sea

Total announces the closing of the Maersk Oil acquisition signed on 21st of August 2017. It brings to Total around 1 billion barrels of oil …

Trump Signs Tariff Order on Metals With Wiggle Room for Allies

President Donald Trump followed through on his pledge to impose stiff tariffs on imported steel and aluminum, while excluding Canada and Mexico and …

The Tanker Orderbook: Watching The Tide Go Out

Shipbuilding Focus last took a look at the tanker orderbook in late 2015, when it was heading towards its most recent peak, following a year of firm …

Noble Group signs binding agreement for financial restructuring

Commodities trader Noble Group said it has finalised a binding agreement with a group of senior creditors holding 46 percent of its debt, and was in …

BP Sees Strong Compliance with 2020 Low Sulphur Fuel Rule

Oil major BP Plc expects more than 90 percent of the world’s shipping fleet will comply with new regulations slashing sulfur levels ships are allowed …

Uncertainty looms over extent of scrubber use ahead of IMO 2020 rule

A cloud of uncertainty over the marine fuel mix hovers ahead of the International Maritime Organization’s global sulfur cap regulation, with many …

SFL: Acquisition of 15 vessels and sale of SFL Avon

Ship Finance announced that it has agreed to acquire a fleet of 15 feeder size container vessels, ranging from 1,100 TEU to 4,400 TEU, in combination …

Seaspan Acquires Greater China Intermodal Investments

Seaspan, the world’s largest independent containership owner operator, announced that it has acquired the remaining 89% it did not own of Greater …

China’s steel production heartland to extend output curb

China’s leading steelmaking city, Tangshan, has announced new restrictions on steel production in order to improve air quality, according to local …

Costamare Announces Pricing of its 8.875% Series E Preferred Stock

Costamare announced that its offering of 4,600,000 shares of its 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 …

Maersk Tankers Leading Digitization of Tanker Industry

The new Chief Digital Officer of Maersk Tankers sat down to discuss his views on how digitisation is changing the tanker industry. Predictive …

Scorpio Bulkers posts narrowed fourth-quarter loss

Scorpio Bulkers reported its results for the three months and year ended December 31, 2017.<p>The Company also announced that its Board of Directors has …

Aegean Announces Agreement to Acquire H.E.C.

Aegean Marine Petroleum Network Inc. announced that it has entered into a definitive agreement to acquire all of the outstanding share capital of …

Maersk Energy sees uptick in offshore oil drilling, profit still squeezed

Prospects for the offshore oil drilling market are improving but profits for drillers are still under pressure and rates will not rise before 2019, …

Port of Rotterdam: Less fuel oil and more LNG bunkered in 2017

In 2017, the sale of bunker oil – fuel for shipping – in the Rotterdam bunker port diminished from 10.1 million m3 to 9.9 million m3. Most bunkers …

Dry Bulk Shipping: Q1 requires careful handling as seasonal cargo demand drops

<b>Demand</b>: The first quarter of any year always represents a challenge for the shipping industry, with fewer cargoes being tendered and Chinese New Year …

Diana Containerships Announces the Sale of Two Panamax Container Vessels

Diana Containerships, a global shipping company specializing in the ownership of containerships, today announced that it has signed, through two …

Carnival Corporation Orders Third New Ship for AIDA Cruises

Carnival Corporation, the world’s largest leisure travel company, announced it has signed a shipbuilding contract for a third next-generation cruise …

Piraeus port enters new era; handling capacity increasing

Piraeus port, the largest harbor in Greece, entered a new era of handling 20,000 plus twenty-foot equivalent unit (TEU) vessels on Monday when …