International Business News - Maritime http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Standard & Poor's on Monday said it has dropped its outlook on dry-bulk shipper Navios Maritime Holdings Inc. to stable from positive. S&P affirmed the "BB-" corporate rating for Piraeus, Greece-based Navios. http://www.ibtimes.com/articles/20081201/s-p-revises-navios-maritime-outlook-to-stable.htm Mon, 01 Dec 2008 11:55:24 EST Navios Maritime Holdings Inc. on Monday said it has declared a quarterly cash dividend of 9 cents on its common stock for the third quarter, but lowered the dividend payout for ensuing periods beginning with the fourth quarter. http://www.ibtimes.com/articles/20081118/navios-maritime-sets-3q-dividend-cuts-payout.htm Tue, 18 Nov 2008 00:33:40 EST Shipping and logistics company Navios Maritime Holdings Inc. on Monday said its third-quarter earnings fell from a year ago as expenses related to the Greek shipping company's acquisition of port operator Horamar Group and other one-time charges ate up profit. http://www.ibtimes.com/articles/20081118/navios-maritime-reports-lower-3q-profit.htm Tue, 18 Nov 2008 00:28:02 EST General Maritime Corp. shares rose in Thursday after JPMorgan upgraded the oil tanker company to "Overweight" from "Neutral." Analyst Jonathan B. Chappell said General Maritime will outperform peers in a difficult spot rate environment next year because of its fixed-rate time charter contracts, relatively secure cash flows and limited financing risk. http://www.ibtimes.com/articles/20081023/general-maritime-shares-surge-as-jpmorgan-upgrades.htm Thu, 23 Oct 2008 20:35:24 EDT Greek shipper Aries Maritime Transport Ltd. said Thursday it has agreed to 12-month charters for two of its product tankers at a rate of $18,525 per day for each vessel. http://www.ibtimes.com/articles/20081002/aries-maritime-secures-2-yearlong-charters.htm Thu, 02 Oct 2008 15:00:40 EDT Greek drybulk shipper Navios Maritime Holdings Inc. said Monday it has agreed to buy two newly built Capesize vessels for $217.5 million. The ships, each with a capacity of about 181,000 tons, are scheduled to be delivered in the second and third quarters of 2009. http://www.ibtimes.com/articles/20080908/navios-maritime-agrees-to-buy-2-capesize-vessels.htm Mon, 08 Sep 2008 11:11:23 EDT For Peter Tamm, the passion that launched a thousand ships--and Hamburg's newest museum along the port city's old docks--began with a gift from his mother in 1934. http://www.ibtimes.com/data/articleimgs/125219-germany-maritime-museum.jpg http://www.ibtimes.com/articles/20080907/vast-model-ship-armada-on-display-in-germany.htm http://www.ibtimes.com/articles/20080907/vast-model-ship-armada-on-display-in-germany.htm Sun, 07 Sep 2008 13:29:24 EDT DHT Maritime Inc., previously known as Double Hull Tankers Inc., on Tuesday declared a regular quarterly dividend of 25 cents. The St. Helier, Channel Islands-based oil tanker owner and operator said the dividend is payable on Sept. 24 to shareholders as of Sept. 15. http://www.ibtimes.com/articles/20080902/dht-maritime-declares-regular-dividend-of-25-cents.htm Tue, 02 Sep 2008 13:19:48 EDT DHT Maritime Inc., previously known as Double Hull Tankers Inc., said Tuesday its second-quarter profit climbed 39 percent partly on increased demand for long haul oil transportation. http://www.ibtimes.com/articles/20080902/dht-maritime-2q-profit-climbs-on-increased-demand.htm Tue, 02 Sep 2008 13:15:18 EDT Shipping and logistics company Navios Maritime Holdings Inc. on Tuesday reported greater profit in the second quarter as shipping revenue more than doubled. http://www.ibtimes.com/articles/20080819/navios-maritime-reports-strong-2q-revenue-gains.htm Tue, 19 Aug 2008 17:54:31 EDT Shares of General Maritime Corp. jumped Wednesday after the ship owner said it will acquire Arlington Tankers Ltd. in an all-stock deal. Shares of General Maritime rose $1.81, or 7.5 percent, to $26.02 in afternoon trading. http://www.ibtimes.com/articles/20080806/general-maritime-shares-leap-on-acquisition-news.htm Wed, 06 Aug 2008 15:00:59 EDT General Maritime Corp. said Wednesday that it will acquire fellow oil shipping company Arlington Tankers Ltd. in a stock-for-stock deal. Under terms of the deal, General Maritime shareholders will receive 1.34 shares of the combined company for each share of their General Maritime shares, while Arlington Tankers shareholders will get one share of the combined company for each Arlington Tankers share they hold. http://www.ibtimes.com/articles/20080806/general-maritime-buying-arlington-tankers.htm Wed, 06 Aug 2008 09:08:05 EDT General Maritime Corp. said Tuesday that it expects to report second-quarter expenses related to freight derivatives resulting in realized losses of $4.9 million and unrealized losses of $9.8 million. http://www.ibtimes.com/articles/20080708/general-maritime-to-log-freight-derivative-losses.htm Tue, 08 Jul 2008 17:50:38 EDT Greek shipping company Aries Maritime Transport Ltd. said Tuesday it named Jeffrey Parry as chief executive, replacing Mons S. Bolin, who will remain with company as a director. http://www.ibtimes.com/articles/20080708/aries-maritime-transport-names-new-ceo.htm Tue, 08 Jul 2008 13:51:44 EDT Greek shipping company Aries Maritime Transport Ltd. on Monday said that it has decided to continue with its operating plan after concluded its review of strategic alternatives. http://www.ibtimes.com/articles/20080630/aries-maritime-to-continue-with-operating-plan.htm Mon, 30 Jun 2008 17:10:21 EDT Greek drybulk shipper Navios Maritime Holdings Inc. said late Wednesday that an initial public offering of 22 million Navios Maritime Acquisition Corp. units priced at $10 per unit. http://www.ibtimes.com/articles/20080626/navios-maritime-acquisition-to-debut-on-nyse.htm Thu, 26 Jun 2008 08:29:14 EDT Shipping and logistics company Navios Maritime Holdings Inc. said Tuesday it has agreed to buy two ultra handymax vessels for $152.5 million. The first vessel is a 2007-built drybulk vessel with a capacity of about 55,728 deadweight tons. The vessel is expected to be delivered by October. http://www.ibtimes.com/articles/20080624/navios-maritime-to-buy-2-vessels-for-152-5m.htm Tue, 24 Jun 2008 08:41:17 EDT Greek drybulk shipper Navios Maritime Holdings Inc. said Tuesday it is sponsoring an initial public offering of Navios Maritime Acquisition Corp., a special purpose acquisition company formed to acquire marine transportation and logistics assets or businesses. http://www.ibtimes.com/articles/20080618/navios-maritime-acquisition-registers-for-ipo.htm Wed, 18 Jun 2008 11:32:12 EDT A federal grand jury in Corpus Christi, Texas, has indicted a unit of oil shipper General Maritime Corp. in a case involving records of the handling of waste oil, the company disclosed in a regulatory filing Friday. http://www.ibtimes.com/articles/20080613/general-maritime-unit-indicted-in-waste-oil-case.htm Fri, 13 Jun 2008 17:22:46 EDT Greek shipping and logistics company Navios Maritime Holdings Inc. said Thursday its first-quarter earnings fell 4 percent, missing Wall Street's expectations, as soaring costs offset sales that more than tripled from a year earlier. http://www.ibtimes.com/articles/20080529/navios-maritime-1q-profit-falls-misses-views.htm Thu, 29 May 2008 10:08:50 EDT