Finance and Insurance
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Overthinking it: Some notes on investing in shipping for those that don’t
Charlie Du Cane, commercial director at Seastar Maritime, gives advice on how to make money investing in our industry. Shipping…
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MOL establishes ¥400bn venture capital fund
Mitsui OSK Lines (MOL), Japan’s largest shipowner by fleet size, has established a ¥400bn ($38.7m) venture capital fund called MOL…
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Scorpio Tankers banks $32m from sale and leaseback of four ships
Monaco-headquartered Scorpio Tankers has sealed a sale and leaseback deal for four vessels with China’s AVIC International. Scorpio will be…
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Seanergy seals $179m financial restructuring
Greek capesize owner Seanergy Maritime Holdings has reached final agreements with key lenders for the financial restructuring of a total…
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Aon launches industry-first fuel price insurance
Aon has launched a new fuel insurance solution, designed to help companies – including shipping lines – protect against rising…
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Tufton Oceanic grows fleet to 20 with chemical tanker buy
Tufton Oceanic Assets has grown its fleet to 20 ships with the acquisition of a stainless steel chemical tanker for…
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Scorpio Bulkers sells another Ocean Yield-financed ship
Monaco’s Scorpio Bulkers, soon to be renamed Eneti as it transitions to an offshore wind vessel owner, has sold another…
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Shuaa Capital rescues Stanford Marine
UAE-based asset management and investment banking firm Shuaa Capital has completed a debt buyout of Stanford Marine Group’s AED1.13bn ($308…
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Energyfund Sweden cuts its tanker exposure
Energyfund Sweden and Ridgebury Tankers have sold their jointly held suezmax tanker to India’s Seven Islands Shipping. No price was…
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Global Ship Lease secures $236m loan from Hayfin
London-based containership owner Global Ship Lease (GSL) has agreed a new $236.2m secured loan facility with Hayfin Capital Management, which…
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Tufton Oceanic splits in two
Tufton Oceanic has unveiled a corporate reorganisation, which will see the business split in two. Tufton Investment Management (Tufton) will…
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McDermott gets $560m cash boost
Houston-based offshore engineering firm McDermott International has secured $560m in new capital. The funds were provided via a series of…
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Evergreen in talks for mega boxship sale and leaseback deal
Taiwanese liner Evergreen is currently in negotiations with an unnamed third party for the sale and leaseback of two of…
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Pacific Drilling emerges from chapter 11
Offshore driller Pacific Drilling has emerged from chapter 11 having completed a balance-sheet restructuring and the implementation of its plan…
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CSSC Shipping inks sale and leaseback for four bulkers with China Minsheng
CSSC Shipping, the financial leasing unit of China State Shipbuilding Corporation, has entered into a sale and leaseback agreement with…
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ZIM issues prospectus ahead of New York listing
Israeli carrier ZIM, which has been privately held since 2004, has filed a prospectus ahead of an initial public offering…
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Castor Maritime secures financing for bulker pair
Nasdaq-listed Greek owner Castor Maritime has announced that it has entered into a binding commitment letter with a European financial…
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Grindrod Shipping seals sale and leaseback deal for product tanker
Singapore-based Grindrod Shipping has entered into a sale and leaseback transaction with a Japanese leasing house for its 2016-built MR…
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Restructured Bourbon plans to offload nearly a quarter of its fleet
French offshore vessel owner Bourbon is coming out of reorganisation proceedings after its restructuring was approved by creditors and validated…
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Shearwater GeoServices seals $437m refinancing
Seismic joint venture Shearwater GeoServices has entered into an agreement to refinance the majority of her company’s debt. The new…
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