• 2018 March 13 12:02

    Navios Maritime Partners announces distribution policy and agreement to acquire 2005 - built Panamax

    Navios Maritime Partners L.P., an owner and operator of drybulk and  container vessels, announced that its board of  directors has adopted a distribution policy of $0.08 per common unit annually, the company said in its press release. Navios Partners also announced that it agreed to acquire a 2005 - built Panamax Vessel for  $12.95 million, with delivery expected in March 2018.

    Distribution Policy Navios Partners announced its board of directors has adopted a dis tribution policy under which it intends to declare quarterly cash distribution in the amount of $0.02 per unit, or $0.08 annually. Based on its current capitalization, Navios Partners expects to distribute approximately $3.4 million quarterly  and $13.7 million annually. The first quarterly distribution of $0.02 per unit for the first quarter of 2018  will be payable on May 14, 2018 to all unit holders of record on May 10, 2018.

    Navios Partners will review its distribution policy regularly, and future distributions will be at the discretion of the board of directors after taking into account Navios Partners’ cash flow, earnings,  financial position, among other relevant matters.

    Navios Partners agreed to acquire a 2005 - built Panamax vessel, of  approximately 87,000 dwt, for $12.95 million. The vessel is expected to be delivered to Navios Partners' owned fleet in March 2018.  Based on the current rate environment (Clarksons’ 1 - year time charter rate for Panamax vessels as of  March 2, 2018), the vessel is expected to generate approximately $3.2 million of annual EBITDA, assuming operating expenses approximating current operating costs and 365 revenue and cost days. Navios Partners is expected to finance the acquisition with cash on its balance sheet  and bank debt at  terms similar to its existing banking facilities. Following this acquisition, Navios Partners controls 40 vessels.

2018 March 23

13:58 International organizations join forces in the fisheries sector
13:32 New addition to DNV GL’s Veracity platform promises to raise drilling efficiency by offering digital solution based on data from 80 000 wells
13:02 Wärtsilä to ensure the continuous operations of Hidrovias Group’s pusher tugs in South American rivers
12:35 Diana Shipping announces time charter contract for m/v New Orleans with SwissMarine
12:10 BMT teams with BAE SYSTEMS and CAMMELL LAIRD to deliver additional Type 45 Power Generation
11:49 29 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on March 22-23
11:30 TechnipFMC and Magma Global to enter into a strategic collaboration agreement for hybrid flexible pipe
10:55 BMT and ARES to deliver a further 9 vessels for the Qatari Coastguard
10:44 Port of Rotterdam Authority invests in Port railway line capacity expansion
10:20 Brent Crude futures price up 0.93% to $69.55, Light Sweet Crude – up 1.09% to $65
09:59 Port of Rotterdam Authority starts construction of Container Exchange Route
09:37 Bunker prices continue surging at the Port of Saint-Petersburg, Russia (graph)
09:16 Baltic Dry Index is flat at 1,117 points

2018 March 22

18:18 Global fuel market to remain relatively stable next week, expert says
18:03 Port of Klaipeda (Lithuania) handled 7.25 million tonnes of cargo in 2M'18, up 6% Y-o-Y
17:45 Transas to return all funds received under state support programme in 2016-18
17:12 Germany based firm offers AIS vessel management tracking systems preventing IUU fishing
16:51 Investments of Tuapse Sea Commercial Port in production development totaled RUB 343 million in 2017
16:30 Rolls-Royce completes the £1.3 million MAXCMAS research project
15:59 Nitrogen deposition in the oceans needs further study
15:30 Acta Marine newbuild successfully completed sea trials
14:30 APL starts new India Pakistan Express 2 Service
14:04 RF Transport Ministry defines procedure for approval of widespread minerals production at Russia’s IWWs
13:33 Open simulation platform launches with new partners
13:12 Volga Shipping Company named “Industry Leader” in “Cargo Shipping Company” nomination
12:58 Wärtsilä Seals & Bearings joins the Green Award scheme in support of clean environment
12:48 WMU Board of Governors meets in Turkey
12:25 MAN Diesel & Turbo partners with Hyundai to build new test-engine facility in Ulsan
12:00 Workshop on prevention and control of shipping and port air emissions being developed as part of GloMEEP-IAPH partnership
11:36 19 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on March 21-22
11:21 Russian Trade and Economic Development Council sign MoU to further strengthen commercial ties with Abu Dhabi Ports
11:14 Bunker prices are flat at the Far East ports of Russia (graph)
10:53 The Maritime Standard announces a special discount for the 2018 Awards
10:27 Brent Crude futures price up 0.01% to $69.48, Light Sweet Crude – up 0.09% to $65.23
10:05 Ukraine’s water transport carried 1,000 passengers in 2M’18, down 64.7%, Y-o-Y
09:41 Cargo transportation by Ukraine’s water transport grew by 41.2% to 0.3 million tonnes in 2M’18
09:19 Baltic Dry Index down to 1,117 points

2018 March 21

18:29 Wight Shipyard wins second order for fast ferry duo from Mexican ferry operator
18:16 Dorian LPG announces third Japanese financing
18:14 GasLog Partners LP announces acquisition of GasLog Gibraltar for $207 million and repayment of intercompany loan
18:04 ABP South Wales achieves new ISO 9001:2016 standard for bulk handling operations
17:42 Port of Gdansk to breathe new life into Dworzec Drzewny Quay
17:20 ABB wins contract to equip two next-generation shuttle tankers with future-proof solutions
17:13 Finnlines decides to exercise the options to lengthen two more ro-ro vessels
17:03 Throughput of Chinese ports up 4.7% to 1.45 billion tonnes in 2M’18
16:39 Pavel Bezmaternykh elected as Director of Eastern-Siberian Inland Navigation Company
16:18 Port of Gdansk overhauls its quays
16:00 Novikombank provides a $100 million loan to STLC
15:47 Huntington Ingalls names two vice presidents
15:21 Gulf Island Fabrication secures contracts for two specialized vessels
15:04 Seatrade Maritime Middle East 2018 to be held in Dubai on 29-31 October as part of UAE Maritime Week
14:42 LUKOIL’s profit in 2017 more than doubled YoY to RUB 418.8 bln
14:23 Wärtsilä and Crowley extend maintenance agreement for 11 articulated tug barges
13:56 IMO launches a video outlining how GMN initiative is uniting MTCCs into a global network
13:29 Ulstein built SOV Acta Auriga completes sea trials
13:11 Dubai will host MARACAD Maritime Innovation Awards on 3 October 2018
13:02 MARACAD 2018 will be held in Dubai on 2-3 October
12:30 17 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on March 20-21
12:09 Port of Quebec to cooperate with Port of Zeebrugge
11:47 Port of Immingham and partners hosted Driving Safety Forward forum