Commodities prices are maintained at high levels

As the European security crisis keeps escalating, President Vladimir Putin and President Joe Biden have accepted “the principle” of a summit to ease tensions over Ukraine, capping a series of increasingly urgent diplomatic efforts led by President Emmanuel Macron to defuse the crisis.

UPDATE ABOUT THE INCIDENT ON BOARD THE VESSEL EUROFERRY OLYMPIA

The Grimaldi Group reports that last night a fire occurred on board its ro-pax vessel Euroferry Olympia while she was about 10 miles north of the island of Corfu.
At 04:12 a.m. (local time) the ship's Master contacted the Group's headquarters informing that a fire had broken out in deck No. 3. The ship's crew immediately intervened to put out the fire with on board equipment. Meanwhile, the Master and the Group’s staff, through the “emergency response team”, promptly notified the incident to the competent Italian and Greek authorities and took all necessary measures to manage the accident in the best possible way.
For the safety of the people on board, the Master decided that everyone should abandon the ship. According to preliminary information, the evacuated people were rescued by a vessel of the Italian Guardia di Finanza and one of the Greek Coast Guard who were in the area. These units are heading to the port of Corfu where the Group is organizing assistance for the evacuees.
On board the ship there were 239 passengers of various nationalities, as well as 51 (Italian and Greek) crew members. In addition, the ship carries 153 commercial vehicles (trucks and trailers), as well as 32 passenger vehicles. No fuel spill has been detected at sea, nor does the stability of the ship appear to be compromised.
Tugboats have been hired and are heading towards the Euroferry Olympia to give prompt support and manage the emergency.
The vessel Euroferry Olympia (built in 1995) flies the Italian flag and is deployed by the Grimaldi Group company Grimaldi Euromed S.p.A. on the daily Brindisi-Igoumenitsa maritime connection; she had left the port of Igoumenitsa at 01:20 a.m. (local time) last night and was scheduled to arrive in Brindisi this morning at 09:00 a.m..
The top management of the Grimaldi Group expresses its regret for the incident and will fully cooperate with the competent authorities to shed light on the incident.

Moore Greece & SQLearn combine their areas of expertise and introduce the Maritime Financial Reporting Masterclass

Moore Greece and SQLearn have come together to develop a platform that aims to be the point of reference for finance professionals in the maritime sector.

Posidonia 2022 To Chart New Course For Global Shipping Reset

Posidonia 2022 will be held this summer from June 6-10, with the 27th edition of the world’s most prestigious shipping event gearing up to welcome the international maritime community back to its Athens Metropolitan Expo venue, following the pandemic-induced disruption of the 2020 event.

HRADF launches the tender process for the mega yachts marina of Corfu

The Hellenic Republic Asset Development Fund S.A. (HRADF), a member of the HCAP Group, proceeds with developing the mega yachts marina in Corfu in the framework of its strategy for highlighting assets with a strong local footprint and enhancing tourism development and growth.

The Capes are “running” and the rest sizes are following.

Jack Αrchontakis
Commercial Manager TMC MARITIME CO.

Fotis -Evangelos Karlis
Chartering Department TMC MARITIME CO.

The dry bulk cargo market showed a further increase, last week. Leading size regarding this growth, for another week, were Capesize vessels, with their general index (BCI) raising up to 50%, compared to the one of 4th of February and the smaller sizes followed (BPI +38%, BSI +35.4%, BHSI +18%). Given that, BDI presented increase of 545 credits (+38%) and reached 1977 credits Friday 11th of February.