Is a Rally in Rates Almost Here to Relieve and Benefit DryShips Inc.?

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Published on Sunday, 18 May 2014 03:10
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By Nickey Friedman | More Articles May 17, 2014 |

Nearly two months ago, George Economou, Chairman and CEO of DryShips  (NASDAQ: DRYS ) , told the world that his company expects the freight market to be "hot" over the next three months. Instead, rates for the largest Capesize ships (to which he was referring) have been caught in a whirlpool. However, the downward course of those rates may be reversing. Better late than never.

To start, DryShips probably won't benefit much directly in the short term should a rally ensue. Most of its Capesize ships are locked into fixed rates, but it certainly wouldn't hurt indirectly in its capital-raising efforts and debt negotiations. This indirect benefit may be vital.

Look to iron oreThe key thing to keep an eye

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Pass Hong Kong GDP: Chart of the Day

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Published on Sunday, 18 May 2014 03:07
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By Bloomberg NewsMay 15, 2014 11:00 PM GMT+0200

Tianjin, the city with the highest per-capita income in China, is poised to pass Hong Kong in economic output as soon as next year, following Shanghai and Beijing.

The CHART OF THE DAY tracks the gross domestic product of the four municipalities in billions of U.S. dollars starting in 2005. Shanghai overtook Hong Kong in 2009. Beijing did likewise in 2011. Tianjin’s move is based on last year’s growth rate of 11.5 percent and average estimates for Hong Kong’s GDP and the Chinese yuan in Bloomberg surveys. Ten years ago, Tianjin’s economy was about one quarter the former British colony’s size.

“It’s got ports, it’s got oil, it’s got a bit of everything, while Hong Kong is basically

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Shallow draft Ice class tug 'Liva'

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Published on Saturday, 17 May 2014 07:36
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    MJ                          

15 May 2014

'Liva' operating off Riga

The Latvian freeport of Riga has taken delivery of the new multifunctional harbour tug 'Liva' from Baltic Workboats located in Nasva Harbour, Estonia. 'Liva' is the second shallow draft tug of its type constructed by the shipyard to designs by ILS of Finland.

represents the second generation of tugs of this type marketed by Baltic Workboats, a company established in 1967 and better known for their pilot boats, patrol launches, ferries and other specialised craft constructed in steel and aluminium. The first very low draft ice class tug, the 19m Panda, was completed in 2011 for Saarte Liinid Ltd of Estonia.

The design for Livais very similar to

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Island Navigator Offshore Service Vessel, Norway

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Published on Saturday, 17 May 2014 07:30
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Key Data       

 

Island Navigator is an offshore service vessel owned by Norwegian offshore service provider Island Offshore. The vessel, which is being designed for worldwide operations, will be built by Kawasaki Heavy Industries (KHI) at its Kobe shipyard in Japan. KHI was awarded the contract to build the ship in January 2014 and is expected to hand her over to the owner in the first quarter of 2017. Engineering works will be performed jointly by Kawasaki and Rolls-Royce.

Built according to mobile offshore unit (MOU) regulations, the vessel will be outfitted to perform a range of subsea operations, such as

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