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Finance & Economy

Torm exits third quarter in the red

In the third quarter of 2021, TORM achieved TCE rates of USD/day 12,854 (2020, same period: USD/day 16,762) and an EBITDA of USD 30.4m...

Ardmore Expecting Product, Chemical Tanker Recovery

Ardmore Shipping Corporation announced results for the three and nine months ended September 30, 2021. Highlights and Recent Activity Reported a net loss of $12.8 million...

Navios Partners posts strong third quarter financial results

Navios Partners, an international owner and operator of dry cargo and tanker vessels, reported its financial results for the third quarter and nine month...

SFL Declares Dividend for 71st Straight Quarter

SFL Corporation announced its preliminary financial results for the quarter ended September 30, 2021. Highlights • 71st consecutive quarterly dividend declared, $0.18 per share • Operating revenue...

Castor posts strong third quarter results

Castor Maritime, a diversified global shipping company, announced its results for the three and nine months ended September 30, 2021. Highlights of the Third...

Performance Shipping posts Q3 net loss

Performance Shipping reported a net loss from continuing and discontinued operations attributable to common stockholders of $2.2 million for the third quarter of 2021,...

Danaos posts record Q3 profits

Danaos, one of the world’s largest independent owners of containerships, reported unaudited results for the period ended September 30, 2021. Highlights for the Third Quarter...

Eagle Bulk posts Q3 net income of $78.3 mln; declares $2.00 per share dividend

Eagle Bulk, one of the world’s largest owner-operators within the drybulk vessel segment, reported financial results for the quarter ended September 30, 2021. Quarter highlights: Generated Revenues,...

Euronav expecting upturn after tough third quarter

Euronav NV reported its non-audited financial results for the third quarter ended 30 September 2021. Hugo De Stoop, CEO of Euronav said: ”We have...

Teekay Corporation reports third quarter profit

Teekay Corporation reported results for the three and nine months ended September 30, 2021. CEO Commentary “In the third quarter of 2021, we recorded a small...

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Sphinx Investment Corp Increases Stake in OceanPal

On September 28, 2023, an OceanPal SEC filing revealed that Sphinx Investment Corp. had raised its ownership in OceanPal, now holding a substantial stake...

Star Bulk Announces the Repurchase of 10 Million of Its Common Shares

Star Bulk announced that it entered into a Repurchase Agreement (with OCM XL Holdings, LP, a limited partnership incorporated in the Cayman Islands, pursuant...

Trafigura announces executive leadership changes

Trafigura Group Pte Ltd. has announced an evolution of its executive team to further strengthen leadership and focus across its global activities during a...

Woori, HMM, KOBC to buy Polaris in prospective $448 mln deal – report

Polaris Shipping Co. is poised to sell its entire stake at around 600 billion won ($447.5 million) to Woori Private Equity Asset Management Co....

Pyxis Tankers Announces Closing of Ultramax JV Investment

Pyxis Tankers, an international shipping company, reported that on September 14, 2023, the Company closed on its previously announced newly formed drybulk joint venture...

Baltic index snaps 4-day winning streak as capesize rates slip

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index scales 11-month peak on strong capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Baltic index scales over 9-month high on capesize surge

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Baltic index rises to over 4-month high on stronger capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Houston-Japan VLGC freight rates reach multi-year high

VLGC freight rates from Houston to Chiba, Japan, reached $245/mt Sept. 21 for the...

Piraeus Port reports strong H1 2023 results

The Piraeus Port Authority SA, which operates Greece’s biggest and busiest port, reported a 48.8-percent increase in pre-tax earnings for H1 2023 – 49.4...

Greece names Thessaloniki port operator preferred bidder for Volos port

Greece’s privatisation agency has named the operator of Thessaloniki port as the preferred bidder for acquiring a 67% stake in the port of Volos,...

Drewry: Port Throughput Index Down 2.1% in July

The Global Container Port Throughput Index fell 2.1% MoM in July 2023, with the small rises recorded in Africa and Oceania having been insufficient...

Vopak: Agreement with Infracapital on sale of Rotterdam chemical terminals

Vopak announces that it has reached an agreement with Infracapital on the sale of its three chemical terminals in Rotterdam (Botlek, TTR and Chemiehaven)...

Port Hedland Iron Ore Exports Edge Up 4% in August

Pilbara Ports Authority has delivered a total monthly throughput of 62.8 million tonnes (Mt) for August 2023, consistent with the August 2022 throughput. The Port...