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Greek Shipping News

28 February, 2017

FRANGOU: NAVIOS POSITIONED TO CAPTURE ANY MARKET RECOVERY
Navios Maritime Holdings logged a loss of $14.4m for the fourth quarter, an improvement on the $60.6m loss in the same period of 2015 and has scored a $21.5m arbitration victory over miner Vale.

BANK OF CYPRUS READIES TO ENTER SHIP FINANCE, SAYS HOURICAN
The Bank of Cyprus is poised to enter for the first time into financing the Cypriot and Greek fleet via careful risk management said John Hourican, ceo of the largest lender in Cyprus.

STATE TAKES OVER $740M NFS CULTURAL CENTER AMID CONCERNS
The Stavros Niarchos Foundation Cultural Center was officially handed over to the Greek state, February 23, with PM Tsipras acknowledging widespread concerns about its fate in public hands.

DANAOS DEEP IN THE RED AFTER $205M IN HANJIN IMPAIRMENTS
Container ship owner Danaos slumped to a $366.2m loss in 2016 as it took hefty impairments including $205.2m related to bankrupt Hanjin. A profit of $117m was recorded in 2015.

P&I CLUBS HOLD THEIR GROUND AFTER ROBUST RENEWAL SEASON
Several P&I Clubs have reported a satisfactory renewals season, after no general rate increases were applied by most of the P&I insurance mutuals, though the annual renewal was said to be tough.

 

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Posidonia is organised under the auspices of the Greek shipping community and the five major associations representing Greek shipowner interests: