Greece News

Greece’s largest lender by assets Piraeus Bank is eyeing a strategic partnership with a major Asian Pacific financial conglomerate that will help it provide financing to Greek shipping companies."This pioneering initiative forms part of Piraeus Bank’s continued commitment to the shipping community, through investment of international capital into existing opportunities and new financing to the shipping industry," said a press release form the bank.The initiative aims at positioning…

U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure on Moscow and problems over contaminated Russian oil.Ukraine this month received its first ever barrels from the United States, according to Refinitiv Eikon flows data, as the tanker Wisdom Venture unloaded 80,000 tonnes of Bakken crude in Odessa on July 6 for the Kremenchug refinery,…

Greek passenger shipping company Anek Lines has partnered with Telenor Maritime, which builds 4G coverage offshore to support the oil & gas industry,  to upgrade the mobile ecosystem onboard all its ships.The connectivity platform with Mobile, Premium Wi-Fi, Ka-VSAT and mobile broadband backhaul improves the complete digital value chain with services enhancing operational efficiency and the passenger’s onboard experience.Lars Erik Lunøe, CEO of Telenor Maritime said: "This is an important step for Telenor Maritime’s service-expansion into the Mediterranean…

Greek-Euro Towage Maritime Company (GMC), a  joint venture company operated by Italian tug owners Rimorchiatori Mediterranei, Fratelli Neri and Rimorchiatori Laziali, is set to acquire 80% of the assets and operational interests in Zouros Group.Zouros retains the remaining 20% stake, with the two companies’ fleet of tugs to be brought together under their joint operational responsibility.Rimorchiatori Riuniti is an operating holding company active in the harbor, offshore and shipping sectors, controlled by private Genoese families long active in the maritime industry.Fratelli Neri, which provides harbor towage and related maritime services…

Panos Kirnidis, CEO of Palau International Ship Registry (PISR) was one of the first speakers to welcome shortsea shipping experts, owners, charters and sector professionals to the 2019 Shortsea Shipping Day at the Piraeus Yacht Club in Greece on Thursday 14 June.As the lead sponsor for the event, organised with among others the European Shortsea Network and the Hellenic Short Sea Shipowners Association (HSSA), Panos Kirnidis stressed the importance of short sea shipping to the…

Greece-based dry bulk shipping company DryShips Inc said announced it has received a non-binding offer letter from SPII Holdings, which proposes a transaction pursuant to which the Company would be merged into a subsidiary of SPII Holdings.SPII Holdings is controlled by DryShips' Chairman and Chief Executive Officer, George Economou.The board of directors of the diversified owner and operator of ocean going cargo vessels has formed a special committee consisting solely of disinterested directors to consider the proposal.As of June 13…

The EuroAsia Interconnector, the Israel-Cyprus-Greece electricity link remains on the official list of European projects of common interest (PCI) making it eligible to receive some €300 mln in EU grants for the Crete-Attica sector of the cable.The EuroAsia Interconnector remains committed to the timely implementation of the project, as submitted to the European Commission, with the Crete-Attica interconnector commissioned in June 2022 and the Crete-Cyprus Interconnector in December 2023…

South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co (DSME) said  that it has won a deal to build a liquefied natural gas (LNG) carrier from Maran Gas Maritime (MGM).The affiliate of Greece’s largest shipper, Angelicoussis Shipping Group ordered the 174,000 cbm unit on June 12.According to Yonhap, The vessel will be built at Geoje Okpo Shipyard and is scheduled for delivery by the first half of 2022.The Korean shipbuilder said that Maran Gas Maritime is one of its…

The provider of shipping transportation services through its ownership of containerships, Performance Shipping Inc.(PSI) announced that it has agreed to acquire two entities, which have signed contracts to purchase two 2011-built Aframax tanker vessels from an unaffiliated third party seller for a total purchase price of US$60.0 million.The transaction was unanimously approved by the disinterested members of the board of directors, said a press release from the Greece-based company.PSI will acquire the two entities affiliated with its Chairman and Chief Executive Officer…

Greece-based Tsakos Energy Navigation Limited (TEN) reported positive results in the first quarter of 2019 with a net income of $11.2 million, showing an improvement of 200% YoY, as a result of improved rate conditions, following the healthy market recovery experienced at the end of 2018.Gross revenues totaled $147.0 million, 17.0% higher than in the 2018 first quarter due to improved rates, full employment at 97% and the positioning of suezmax and aframax tankers in the spot market that generated an additional $18.4 million in revenue over that achieved…

Carnival Corporation, the world’s largest luxury cruise operator, emitted nearly 10 times more sulphur oxide (SOX) around European coasts than did all  260 million European cars in 2017,  said Transport & Environment.Royal Caribbean Cruises, the world’s second largest, is second, yet four times worse than the European car fleet, revealed a new analysis by sustainable transport group.SOX emissions form sulphate (SO4) aerosols that increase human health risks and contribute to acidification in terrestrial and aquatic environments.In absolute terms…

Following last year’s acquisition of Norwegian lifeboat builder Norsafe by VIKING Life-Saving Equipment, the two companies are joining forces at Nor-Shipping to showcase their complete safety solution.For decades, the name “Norsafe” has been synonymous with high-quality, innovative lifeboat design and craftsmanship. Acknowledging this legacy as well as looking forward to a new and exciting future as part of  VIKING Life-Saving Equipment, all of Norsafe’s boat and davit solutions will now be rebranded as “VIKING Norsafe”.As part of the same process…

The GEBCO NF- Alumni Team was announced as the $4 million grand prize winner of the Shell Ocean Discovery XPRIZE, a three-year global competition that challenged teams to advance deep sea technologies for autonomous and unmanned, fast and high-resolution ocean exploration. The team's winning concept includes the use of a unique unmanned surface vessel (USV) / autonomous underwater vessel (AUV) and associated combination of communications hardware and software to process and transmit data remotely.

Leaders of the Greek Shipping Industry met to discuss decarbonization, capitalizing on data and digital technologies and vessel automation at the annual ABS Hellenic National Committee meeting.“We have deep relationships across the Greek shipping industry, which reflects our extensive investment in serving the needs of ship owners and operators here. Not only is our office in Piraeus the largest ABS office in Europe, but it is home to our Global Ships  Systems Center and an extensive team of experts on call 24 hours a day to assist with whatever challenges they face,” said Christopher J.

Greece-based global ship manager of seaborne transportation Star Bulk Carriers Corporation has entered into an en bloc definitive agreement with entities controlled by Delphin Shipping to acquire eleven operating dry bulk vessels.The company focusing on the transportation of dry bulk cargoes said in a press release that the acquisition of bulkers from Delphin, an entity affiliated with Kelso & Company, is for an aggregate purchase price of $139.5 million, payable in the form of…

The new ferry between Bella Coola and Port Hardy will be starting up on Saturday, said the British Columbia Ferry Services Inc (BC Ferries)According to a news release , the Northern Sea Wolf will begin service on the Central Coast route on May 18, after finishing sea trials and dock fits during April and May.Built in 2000, the vessel was bought in Greece in 2017 after the province announced it was reviving the route that had been cancelled in 2013.The corporation says the Northern Sea Wolf has finished sea trials and dock fits successfully in April and May in Port Hardy…

Neo-Panamax container vessels experienced increased activity during the first quarter of 2019, compared to the fourth quarter of 2018, said  Capital Product Partners.While charter rates for feeder and panamax vessels remained relatively flat due to, among other things, the overhang of idle tonnage, charter rates for Neo-panamax vessels, especially 8,000 TEU designs or larger, saw marked increases, with 12-month charters being contracted at average daily gross rates of approximately $24…

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 ShipMoney.The deal means crew members will have control and access to their wages while onboard ship, including the timing and currency of remittances sent home. It will  reduce the need for large amounts of cash to be delivered to ships and eliminate the need for Tsakos to administer individual crew wire payments sent to home bank accounts. The latest contract with the Greece-based shipmanagement company will see ShipMoney’s products being rolled out to its fleet of 90 vessels consisting of tanker…

Greece-based dry bulk shipping company DryShips Inc announced that it has agreed to acquire from an entity that may be deemed to be beneficially owned by its Chairman and CEO, George Economou, one Newcastlemax drybulk carrier built in 2017, for a purchase price of approximately $50.0 million. The purchase price was based on the average fair market value of the vessel, as determined by independent third party broker valuations, and the transaction was unanimously approved by the…

Greece’s Chartworld Shipping Corporation(CSC)'s cargo vessel Nederland Reefer, its manager, owner and the chief engineer have been indicted for falsification of pollution records, obstruction of justice and witness tampering.A federal grand jury in Wilmington, Delaware, returned a six-count indictment charging CSC, Nederland Shipping Corporation, and Chief Engineer Vasileios Mazarakis, according to the U.S Department of Justice.The charges stem from the falsification of records…

GasLog and GasLog Partners announced that Paolo Enoizi has been appointed as Chief Operating Officer (COO) Designate of GasLog and GasLog Partners.Paolo, who will be based in Piraeus, Greece, will take up his role in August 2019 and initially work alongside current COO Richard Sadler to ensure a smooth transition of responsibilities.On joining GasLog in August 2017 and in addition to his day-to-day responsibilities, Richard indicated his desire to work with the rest of the senior leadership team to identify a long-term successor for the COO role.

Navios Maritime Acquisition Corporation, an international shipping company, said that it  has sold the oldest vessel of its fleet, the C. Dream.According to a press release from the US-listed, Greece-based company, the 299,000-dwt very large crude carrier (VLCC) C. Dream (built 2000) is sold for $21.75m.The 323,967 cbm vessel, with a length of 332 meters and a width of 60 meters, was built in Hitachi shipyard in Japan.Navios Acquisition is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.

Greece-based TMS Cardiff Gas, an operator and manager of 16 liquefied natural gas (LNG) Carriers, announced that it  has entered into a ten year time charter contract with Vitol, a energy & commodities company, for one of its X Carrier Series vessels.The 174,000 cubic meter vessel with efficient XDF propulsion is being constructed at Hyundai Heavy Industries (HHI). The LNG carrier company has now secured term employment for ten of its eleven X Carrier Series vessels and maintains options for further growth.The vessel will be built to the highest industry specifications…