Suny Maritime To Honor Female Shipping Pioneer Angeliki Frangou

SUNY Maritime College will recognize one of the most prominent women in the maritime industry with an honorary doctorate during its May 2017 commencement ceremony in The Bronx.  Angeliki Frangou, chairman and CEO of the Navios Group, will receive an honorary Doctor of Science degree and deliver the commencement address to the college’s approximately 300 graduates on May … [Read more...]

Navios Proving It’s a Good Time to Be in the Tanker Business

International tanker owner and operator Navios Maritime Acquisition Corporation (Navios Acquisition) is proving that it's a good time to be in the tanker business, having recently announced the employment of seven product tankers at increased rates and a two-year charter for its recently delivered VLCC, Nave Photon. In the case of the product tankers, Navios … [Read more...]

Navios Acquires 10 Ships from HSH Norbank Debtors, Additional Ships Possible

Navios Europe Inc. announced today they have acquired ten vessels from debtors of HSH Nordbank AG including five product tankers and five Panamax and sub-Panamax container vessels.  The deal was closed for a total consideration of $127.8 million in cash and the assumption of $173.4 million Subordinated HSH Participating Loan. Navios says the acquired ships have an average … [Read more...]

‘Things Cannot Get Worse’ in Shipping

In a week when the twenty-two-year-old Norwegian Magnus Carlsen was crowned the world’s chess champion, when the crypto-currency Bitcoin reached $900 on behalf of Bernanke’s quasi-endorsement for its potential for (legitimate) digital applications, when the S&P closed above 16,000 for the first time, when the world’s ultimate ‘buy and hold’ … [Read more...]

Navios Acquisition Extends LR1 Time Charters

Navios Maritime Acquisition Corporation (NYSE: NNA) announced today that it has agreed to extend the existing charters on the LR1 Product Tankers Nave Atropos, Nave Rigel, and Nave Ariadne for an additional 18 month period and an additional 12 month period for the Nave Cassiopeia, Nave Cetus and Nave Cielo. All six of these vessels are on charter for $11,850 net per day plus … [Read more...]