V Eirini P News

Chinese ports and marine safety authorities are on high alert as an expansion of sea ice makes it tougher for ships to berth and discharge at key energy product import terminals along the coast of northern Bohai Bay.A cold wave sweeping the northern hemisphere has plunged temperatures across China to their lowest in decades, boosting demand for power and fuel to historic highs in the world's largest energy consumer."The sea ice situation is more severe this year than the same period in previous years," said Wang Jun, a professor specializing in transport issues at Dalian Maritime University."It could impede sailing and docking for vessels, no matter how big they are."Weather officials warned against severe frost this week in the region, with sea ice stretching 45 to 55 nautical miles at Li

EuroDry announced that it has completed the refinancing of the debt of M/V Alexandros P, a 62,000 dwt ultramax drybulk vessel built in 2017.The owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes said in a press release that the new loan facility of $15 million was used to repay the previous loan facility with an outstanding balance of $9.9 million and provide additional liquidity to the Company.The new loan will have a maturity of seven years and will be repaid in twenty-eight equal quarterly instalments and a balloon payment of $8.42 million along with the last instalment.The Republic of…

Euroseas Ltd.,  an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three and six month period ended June 30, 2014 as well as certain fleet updates. *Net loss of $5.0 million; net loss available to common shareholders of $5.4 million or $0.09 loss per share basic and diluted. Total net revenues of $9.6 million. Adjusted net loss available to common shareholders1 for the period remained the same at $0.09 per share basic and diluted. *Adjusted EBITDA was $(1.6) million. *An average of 14.4 vessels were owned and operated during the second quarter of 2014 earning an average time charter equivalent rate of $7,373 per day.

MARMARAS NAVIGATION LTD, a Greek operator of a fleet of ocean going vessels transporting products around the world, recently plead guilty to a felony violation of the "Act to Prevent Pollution from Ships" for improperly documenting the handling of oily waste aboard the marine vessel ("M/V") Agia Eirini. MARMARAS pleaded guilty to a felony violation for failing to maintain proper records associated with the ship's handling of its waste oil. If approved by the court, the plea agreement requires that MARMARAS pay a criminal fine of $200,000, develop and implement a comprehensive environmental compliance plan for its fleet of twenty-eight (28) ships that call on United States ports, and serve three (3) years on probation.