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  • 2 days ago | rivieramm.com | Georgios Georgiou

    In 2024, the US-listed owner reported a 6.1% year-on-year decrease in its fleet’s annual efficiency ratio (AER), according to its ESG report released in early June. AER assesses fuel efficiency by factoring in the total fuel consumption, distance travelled, and the ship’s deadweight over the course of a year. Safe Bulkers noted this result was achieved by maintaining its carbon footprint at the same level while increasing the fleet’s transport work by 7.1% compared with the previous year.

  • 2 days ago | rivieramm.com | Georgios Georgiou

    According to data shared by Xclusiv Shipbrokers with Riviera, Greek buyers acquired 48 bulk carriers and tankers in the first five months of 2025, a steep 67% drop from the 145 vessels purchased during the same period in 2024. The sharp decline is largely attributed to a collapse in bulk carrier transactions. Greek owners purchased only 29 bulkers as of May, compared with 113 in the previous year.

  • 2 days ago | rivieramm.com | Georgios Georgiou

    In a disclosure on 4 June, the US-listed tanker owner revealed its subsidiary Rubico is set to become an independent, publicly traded company listed on Nasdaq. As part of the spin-off, TOP Ships intends to transfer ownership of two 2021-built Suezmax tankers – Eco Malibu and Eco West Coast, each with a capacity of 157,000 dwt – to Rubico. Both vessels have been placed on long-term time charter contracts with Clearlake.

  • 2 days ago | rivieramm.com | Georgios Georgiou

    China’s Nantong CIMC Pacific Offshore Engineering (CIMC SOE) has recently signed a contract for the construction of one firm plus one optional 20,000-m³ LNG transport and bunkering vessel. The buyer has not been officially disclosed, but shipbroking and market sources have linked the order to Belgium-based Somtrans. Somtrans describes itself as a tanker shipping company with fully owned barges, overseeing a fleet of 24 vessels, according to information on its website.

  • 3 days ago | rivieramm.com | Georgios Georgiou

    According to domestic media reports in late May, Asyad Shipping chief commercial officer Imad Al Khaduri stated the company plans to invest between US$2.3Bn and US$2.7Bn in fleet growth. Asyad Shipping has already committed over US$1.0Bn, including funds allocated to newbuildings scheduled for delivery by 2027. These will comprise LNG carriers and tankers.

LNG Shipping & Terminals journalists