Reuters: Greek Banks Offloading Shipping Debt to Shore Up Capital









by Aggelos Skordas - Feb 26, 2015

Greek banks are considering offloading part of their shipping debt portfolios worth billions of dollars in a bid to shore up their capital, Reuters stressed citing banking and ship-financing sources.

Earlier this week, Athens has secured a four-month extension of its existing loan agreement but the danger of it ending up in a wreck and the threat of a hurtful Grexit still in existence, raises the risk of Greek banks facing further deposit loses in the future, the news agency estimated.

“There are several portfolios being shopped around at the moment, including shipping loans,” an unnamed banking and ship-financing source said, adding that “it makes sense for the Greek banks, which face a huge liquidity problem,

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World’s Biggest Ship Title Shifts Monthly as Rates Fall: Freight




5:01 PM CET
March 5, 2015

Ships sit under construction in a dry dock at the Daewoo Shipbuilding & Marine Engineering Co. shipyard in Geoje, South Korea. Photographer: SeongJoon Cho/Bloomberg

With weak freight rates encouraging shipping lines to send as many goods as possible in a single voyage, Mitsui O.S.K. Lines Ltd. is buying six ships capable of carrying 20,100 20-foot containers, enough to fit about 203 million iPads. Four are being built by Samsung Heavy Industries Co., the world’s third-biggest shipbuilder, and two will

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Baltic Dry Index- 19 feb.2015


Daily Market: This page contains the latest Dry Bulk Shipping News

19 February 2015

Baltic Dry Index (BDI)    +2   511



(Cape index)


(Panamax index)


(Supramax index)






















  10132   11369  

Spot  TC Average = The Average Value of the Main Shipping Routes applicable for each of the 3 types of Ships
BDI=The Weighted Composite Index of BCI/BPI/BSI

Se venden viejos buques de la Armada desde 22.000 euros




El Confidencial 20.02.2015

La marina subasta cuatro barcos dados de baja para que sean convertidos en chatarra. Están incluidos el L-42 ‘Pizarro’ y el hidrográfico ‘Rigel’

Cuatro buques de la Armada ya dados de baja, algunos con mucha historia detrás como el ‘Pizarro’, se subastarán en los próximos meses en el Arsenal de Cádiz. Destinados a ser convertidos en chatarra, se venden desde 22.000 euros.

Las cuatro embarcaciones fueron dadas de baja hace aproximadamente 3 años, dentro del plan de reducción de buques sin uso que puso en marcha la Armada española. El más importante de todos los afectados por este proceso fue el portaaeronaves Príncipe de Asturias, cuya subasta está prevista para este 2015.

Entre el catálogo a subastar en esta

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Daily Market Recap: The EU’s never-ending crisis is the risk capping the current rally




At-risk economies are rallying again and the market is starting to look eager

…eager, but not exuberant. Friday was a continuation of Thursday’s strong performance: broad-based and this time with a little more strength in the emerging market space. The market seems to be looking for a reason to breathe a sigh of relief and finding it in receding risks after a volatile start to the year. The rally has legs, driven by positive earnings in the US, commodity reversion, Russia’s peace deal, and some economic news from Europe beating estimates last week. But with Greece hanging over everyone’s head, it may be a bumpy ride.

Early morning news out of Europe on Friday showed year-over-year GDP growing at a 0.3% rate,

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