Hellenic Shipping News Worldwide

The global dry bulk fleet is facing a sharp contraction in younger, more efficient tonnage, with the supply of vessels under 15 years of age projected to fall by 22% by 2028, according to new analysis shared by Oliver Kirkham, Senior Valuation Analyst at Veson Nautical, a global leader in maritime freight and fleet management …

Ship owners were quite active in the dry bulk newbuilding market last week. In its latest weekly report, shipbroker Banchero Costa said that “the Greek company DryDel ordered an Ultramax 64,000 dwt at Imabari. No price was disclosed, delivery is set for Jun 2028. Fujian Mawei secured an order from COSCO Shipping for 15 x …

Escalating tensions between Iran and Israel are analysed for their potential effects on global energy markets, particularly concerning the Strait of Hormuz. While historical data indicates a full closure by Iran is improbable, disruptions via attacks, mines, or vessel harassment could significantly affect oil prices, shipping routes, and freight rates. Given China’s position as Iran’s …

The closure of the Strait of Hormuz is highly unlikely due to its crucial role in connecting Gulf Cooperation Council (GCC) countries with global markets. These countries are major exporters of construction materials, oil and petrochemicals and importers of industrial equipment, grains and other breakbulk commodities. Therefore, continuous trade flow through the strait is vital …

Globus Maritime Limited, a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the quarter ended March 31, 2025. Revenue $8.6 million in Q1 2025 compared to $7.7 million in Q1 2024 Adjusted EBITDA $2 million in both Q1 2025 and Q1 2024 Time Charter Equivalent $9,225 per day in Q1 …

Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a long-term time charter contract with Mercuria Energy Trading S.A. (“Mercuria” or the “Charterer”), for its fourth newbuilding, the previously announced LR1 tanker scheduled for delivery in early 2027. …

The tanker fleet is ageing and this is undeniable, despite the increased pace of newbuilding contracting over the past year. Taking into account the expected increase of demolition activity in the future, more orders needs to take place, if a tonnage supply shock is to be avoided. In its latest weekly report, shipbroker Xclusiv said …

Newbuilding prices started softening in early 2025, and we expect this downtrend to continue as the lack of clarity around IMO regulations will keep new orders subdued, increasing the competition among yards. Despite a sharp decline in steel prices from the highs of 2021, newbuilding prices surged about 50% between 2020 and 2024 as capacity …

For decades, Greek shipping has been a dominant global force — in competitiveness, resilience, and adaptability. Yet, despite its proven strength and enormous contribution to the national economy, it remains, paradoxically, detached from Greece’s public discourse and even more so from its political narrative. Shipping is not just an industry. In Greece, it is a …

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, yesterday announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2010-built Panamax vessel “Selina”, with delivery to the buyer latest by August 15, 2025, …