Fourth quarter is ‘the quarter’ for d’Amico

Paolo d’Amico is tired of waiting for the IMO 2020 tanker rally — thankfully, he thinks it’s right around the corner. The chairman of the Milan-traded shipowner told TradeWinds Thursday that he expects things to start peeking up next month, with the effects Source: http://www.tradewindsnews.com

September 12, 2019
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DryShips legal foes dispute weight of Top Ships ruling

A US federal judge’s firm rejection of shareholders’ security fraud lawsuit against Top Ships has spilled over into the legal sparring in a similar action against compatriot Greek shipowner DryShips. Lawyers for George Economou-led DryShips are asking another US federal judge to take notice of her colleague’s ruling, while the DryShips plaintiffs claim the Top case was wrongly decided and not directly comparable. Meanwhile, a hearing in the DryShips case…

September 11, 2019
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ICBC finance exec seeks to strengthen post-Brexit UK ties

Wang Zhenyong, deputy chief executive of lease financing at ICBC Leasing, said he is hoping to build on the Chinese bank’s already strong relationship with the City of London post-Brexit. Speaking at the Chinese Shipping Association of London (CSAL) event during Source: http://www.tradewindsnews.com

September 11, 2019
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Go green and do better or go capital hungry, financier warns

Without stronger environmental and social protections and better corporate governance, shipowners could be starved for capital. “There is not an institutional investor today in the western world … that is not thinking about the impact of environmental, social and governance factors,” said JP Morgan Asset Management Global Transportation Source: http://www.tradewindsnews.com

September 10, 2019
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PwC reveals blueprint to boost $6bn London maritime sector

A new report by PriceWaterhouseCoopers has come up with 36 ways in which London can grow its maritime services offering. London-based marine insurance, shipbroking, legal, finance and classification industries are worth $6bn to the UK economy each year, in a global Source: http://www.tradewindsnews.com

September 9, 2019
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Diana Shipping launching second repurchase offer

Diana Shipping is making another round of buybacks, this time for up to 1.4 million shares. The Athens-based, New York-traded bulker owner announced the $3.55 per share offer Friday. The company said the move was in its best interests given its cash position — Source: http://www.tradewindsnews.com

September 6, 2019
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Renewed trade talks push shipping stocks up

Good news on the trade war front bumped up shipping stocks Thursday. After the US and China announced they would hold trade talks in early October, most New York-listed shipping companies closed the day up. Among the top performers were Scorpio Tankers, Matson Source: http://www.tradewindsnews.com

September 5, 2019
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