Hellenic Shipping News Worldwide

EuroDry Ltd., an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it has signed an agreement to sell M/V Eirini P., a 76,466 dwt drybulk vessel, built in 2004, to an unaffiliated third party, for approximately $8.5 million. The vessel is expected to be delivered to …

The product tanker market could be set for a respite in the coming months. In its latest weekly report, shipbroker Gibson said that “last month refining runs hit an all-time high of just over 85mbd, with refineries running much harder this summer than at any other point since the pandemic. Globally, refining has had a …

Capesize Positive sentiment was observed across both the Atlantic and Pacific basins throughout the week, with the exception of a brief pause on Thursday. The Capesize timecharter average closed at $25,457 on Friday, marking a gain of $1,944 week-on-week. Sentiment appeared positive in the North Atlantic but activity remained limited overall. In the Brazil/West Africa …

Rystad Energy’s latest analysis reveals a growing threat to global energy security as the world’s five most critical maritime chokepoints, narrow sea routes that handle the bulk of global oil and gas transit, face escalating risks from conflict, piracy and environmental hazards. In 2023, these chokepoints carried an estimated 71.3 million barrels per day (bpd) …

Top Ships Inc. will look for acquisitions. The company entered into four sale and leaseback financing agreements with a major Chinese financialier for the refinancing of two 300,000 dwt VLCC tankers, the M/Ts Julius Caesar and Legio X Equestris (expected to be concluded in October 2025), one 157,000 dwt Suezmax tanker, the M/T Eco Oceano …

Dirty tanker spot freight rates largely recovered from the previous month’s declines. Suezmax rates saw the strongest gains, up 34% on average, m-o-m, and 38%, y-o-y, OPEC said in its latest monthly report. Spot freight rates on the West Africa-toUS Gulf Coast (USGC) route jumped 38%. VLCC spot freight rates were lifted by routes terminating …

In an age defined by ultra-fast digital transformation, the global trade landscape remains anchored in a bygone era of paper. Despite the acknowledged benefits of going digital, international trade continues to depend heavily on paper-based documents and processes. A new OECD policy paper advocates that it’s time to abandon the archaic “paper chase” and embrace …

This week, the spotlight is on the evolving monthly volumes of dirty oil flows, specifically the increasing trend from Saudi Arabia to China. In August, Saudi crude shipments to China surged by 19% year-on-year, exceeding 50 million barrels. This marks not only the highest monthly volume of 2025 so far but also the strongest level …

Warnings, advisories and piracy incidents in the Indian Ocean Area by the UKMTO in the past week.   Source: UKMTO (United Kingdom Maritime Trade Operations)

The tanker market is fragmented with each class showing varying performance, as a direct result of changing trade flows. In a recent weekly report, shipbroker Xclusiv said that “the oil market is once again caught between contrasting narratives, with the International Energy Agency (IEA) warning of an “ever more bloated market” while OPEC projects a …