Finance
Keep informed with daily analysis and insight into shipping’s relationship with financial markets including company results, credit reports and investment decisions
Economou ends proxy fights with Genco and OceanPal
George Economou has ended his proxy battles with US-listed Genco and OceanPal. The shipping magnate took credit for Genco’s rising share price as he offloaded half of his stake, and entered into a support agreement with OceanPal
Wall Street may be overvalued. That doesn’t mean shipping equities are
Industry stocks have been hitting it out of the park for a couple of years. They may just go higher still
Better placed than ever? Greek shipowners leading from the front
At the vanguard of shipping since the days of Onassis and Niarchos, Greeks have once again been heavily reinvesting in shipping and are as well equipped as anyone to meet the challenges of decarbonising the industry
Oregon’s governor proposes lifeline for ailing Portland box terminal
Oregon’s governor said she would attempt to allocate $35m of the 2025-2027 budget to the port, which was set to close in October
Containership lessor GSL’s adjusted share price just topped Covid-era high
Sentiment was grim on US-listed containership lessors such as Global Ship Lease in the aftermath of the pandemic boom. But Red Sea diversions combined with a surprise rebound in freight demand has led to a significant turnaround. Shares are riding high
D’Amico family sells $43.7m of shares in tanker outfit
Italy’s d’Amico International, a holding company that owns the majority of Milan-listed d’Amico Shipping, sold $43.7m of shares in the tanker outfit to increase trading liquidity. The move reduced its holding by 5% to 60.65%
Avance Gas generously rewards shareholders in ‘blockbusting’ quarter
Oslo-listed Avance Gas reported a record quarter that was driven by sales of three ships, but also strong freight earnings. The company announced a $2.15 per share dividend, of which $0.99 is structured as reduction in par value of the share, and the remaining $1.16 is a regular dividend
TMX pipeline an ‘interesting addition’ to VLCC market, says DHT chief
Pure play, very large crude carrier DHT is in discussions with Chinese state-owned oil companies over transhipments of TMX exports to China, DHT chief executive Svein Moxnes Harfjeld said. The company reported earning per share of $0.29, in line with analysts expectations’
Hapag-Lloyd hikes full-year guidance, sees ‘steep increase in spot rates’
Hapag-Lloyd reports a strong pick up in demand for Asian exports to Europe and the US in recent weeks. But chief executive Rolf Habben Jansen says it’s too early to tell how long the surprise rebound in spot rates will last
Ismini Panagiotidi eyes IPO for Icon
Panagiotidi follows in footsteps of father and brother with intended public listing
Secondhand boxship values stay hot during busy period for sales transactions
Average containership asset prices have risen by up to 25% since the beginning of the year, as demand for secondhand tonnage has increased. While values remain below 2021’s and 2022’s market peaks they remain well above pre-pandemic levels
Greek start-up Harbor Lab raises $16m
Antonis Malaxianakis-led company is first to focus on streamlining of port call disbursements
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