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Greek Shipping News

1 August, 2016

EC SEEKS FINANCIAL SANCTIONS IN LONG-RUNNING HELLENIC  CASE
The EC has taken Greece to the European Court of Justice for failing to recover more than Euro 250m ($275m) in what it considers to be illegal state aid to Hellenic Shipyards dating back to 2008.

CONTROLLING FAMILY OPTS TO BOOST  COSTAMARE'S LIQUIDITY
Costamare reports an adjusted $31.9m profit for the second quarter, down from $34.4m y-o-y. The Constantakopoulos family a 65% stakeholder, decided to reinvest its second quarter cash dividend.

THREATENING CLOUDS GATHER ON THE CRUISE HORIZON
After looking bright at the end of last summer, cruising in the East Med is now under a cloud. Events since the beginning of 2016 have raised serious concerns over floating vacations in the region.

'SHIPPING AVERSE' YOUNG ARE IGNORANT OF INDUSTRY PROSPECTS
Despite the high level of unemployment in Greece, young people are not keen to work in the shipping sector. Young Greeks are “shipping-averse”, when it comes to job opportunities in the shipping industry.

DYNAGAS, GASLOG, NAVIOS MIDSTREAM MOVING IN RIGHT DIRECTION
NYSE-listed Dynagas, GasLog and Navios Maritime have all reported solid results for the second quarter, as sponsor’s dropdown vessels chip in to boost revenues and put them on the right financial course.


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