The dry bulk cargo market had a cold start of the new year

Iakovos (Jack) Archontakis
Commercial Director TMC MARITIME CO.

Dr. Fotios-Evangelos Karlis
Maritime Executive and Consultant

The dry bulk cargo market recorded significant monthly losses in all sizes, compared to the corresponding period before the holidays.

CELESTYAL charts new course in the Persian Gulf region and returns to year-round sailing

Celestyal, the award-winning, number one choice for travelers to the Greek Islands and beyond, has announced that Celestyal Journey will visit four new countries (Qatar, UAE, Bahrain and Oman) and six new ports of call (Doha, Bahrain, Dubai, Khasab, Sir Bani Yas and Abu Dhabi) in the Persian Gulf beginning in November 2024.

2023 is gone, however…

2023 is gone, however, economic uncertainty and mounting geopolitical risks from Ukraine and Russia to Israel and the broader Middle East still dominate the beginning of 2024.

PPA S.A.: First cruise ship of the year arrived at the Port of Piraeus- A large increase in arrivals and passengers

The Management of PPA S.A. welcomed COSTA Deliziosa, the first cruise ship to arrive at the port of Piraeus in the new year, through a special ceremony with exchange of plaques and Christmas treats for all passengers, during their arrival at the Cruise terminal.

Acquisition by Yoda PLC of common units in Capital Product Partners L.P.

YODA PLC (the “Company”) hereby announces that the Company’s Board of Directors on 27 December 2023, unanimously approved the entry of the Company into a unit purchase agreement with a third party, Capital Maritime & Trading Corp. (the “Seller”) (the “Unit Purchase Agreement”), relating to the acquisition of 10.000.000 common units representing limited partnership interests (the “Purchased Units”) in Capital Product Partners L.P. ( “CPLP”), a limited partnership organized under the laws of the Republic of the Marshall Islands, being listed in the NASDAQ Stock Exchange, for the total consideration of US$ 160.000.000, settled by the Company in cash concurrently with execution of the Unit Purchase Agreement (the “Transaction”). The Transaction consideration has been agreed between the transacting parties. The Transaction constitutes a transaction at arm’s length and is part of the Company’s business plan to further invest and expand its activities in the shipping sector, as CPLP is an international shipping company engaged in the seaborne transportation of natural gas and it is expected that the investments it holds shall assist the Company in achieving its goals and long-term shipping investment plans. More specifically, CPLP is one of the leading US publicly listed owner of two stroke LNG carriers with 8 currently operational and another ten under orders to be delivered within the next 3 years. CPLP is well positioned to take advantage of the strong fundamentals of the LNG industry with six open LNG/Cs delivering between 2026-2027 and rights of first refusal on a unique fleet of LCO2 and ammonia carriers.

As 2023 draws to a close, the global shipping industry faces challenges ahead

As 2023 draws to a close, the global shipping industry faces challenges ahead, with disruptions at the Panama and Suez Canals threatening to disrupt smooth sailing.