Finance and Insurance
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CMB on home straight with Euronav stake now above 88%
Following the closing of the Euronav takeover bid, the Saverys family-controlled Compagnie Maritime Belge (CMB) effectively controls 88.61% of the…
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StormGeo takes full ownership of Brazilian meteorological service firm
Norwegian weather intelligence specialist StormGeo has taken over the remaining stake of Brazil-based weather forecast specialist Climatempo. StormGeo, a part…
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US court rules in favour of CMB’s takeover of Euronav
The Saverys family-controlled Compagnie Maritime Belge (CMB) has cleared the first obstacle for the takeover of Euronav set by US…
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Jones Act leasing business launched by Libra subsidiary
Seapath, part of Libra Group, has launched a Jones Act leasing business with $25m of initial transactions already concluded. Seapath’s…
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ADNOC, BP pause $2bn NewMed acquisition talks due to Palestine conflict
Discussions regarding an offer made by British energy supermajor BP and UAE’s ADNOC to buy a 50% stake in Israel-based…
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BW Group to sell partial stake in DHT Holdings for $83m
Singapore’s BW Group has decided to put up for sale some 7.48m shares of New York-listed tanker giant DHT Holdings…
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Brazilian drilling contractor Petroserv agrees takeover deal
Brazilian offshore drilling player Petroserv Marine is set to be acquired by a consortium of financial investors. A special purpose…
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Norway awards $193m funding to Odfjell Oceanwind floating wind venture
Odfjell Oceanwind and its partners Source Galileo Norge and Kansai Electric Power Company, have received NOK2bn ($193m) in state funding…
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Grindrod secures up to $113m in debt refinancing
Grindrod Shipping has struck a deal for an $83m loan with Nordea Bank and SEB Bank (Singapore). The Singapore-based bulker…
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Navigare Capital raises offshore wind wager with up to three CSOV newbuilds for Norwind Offshore
Denmark’s Navigare Capital Partners Norwegian is expanding its footprint in the offshore wind sector with up to three more commissioning…
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Iberdrola makes $2.5bn offer to take full control of US subsidiary Avangrid
Spanish electric utility company Iberdrola has launched an offer to acquire the remaining stake in its US subsidiary Avangrid. Avangrid…
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Exxon lining up counteroffer for Hess’ Guyana assets
US oil company Hess is reviewing the timeline for the closing of a takeover deal by Chevron after compatriot oil…
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UK extends oil and gas windfall tax until 2029
The government of the UK has decided to extend the windfall tax on oil and gas firms by an additional…
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UK government supports offshore wind auction with $1bn
The UK government has announced over £1bn ($1.27bn) in support of the upcoming renewables tender, with the largest slice of…
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Cadeler adds to green finance firepower
BW Group and Scorpio-backed offshore wind installation player Cadeler has secured additional capital by upsizing its HSBC green loan. Last…
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MOL and Allianz take Volkswagen to court over sinking of Felicity Ace car carrier
The shipowner of the Felicity Ace and its insurer have filed separate lawsuits in Germany against Volkswagen over the blaze…
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Hafnia buying back five ships
Product tanker giant of Singapore’s BW Group, Hafnia, has revealed a series of vessel repurchases on the back of record…
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US investor raises another obstacle for CMB’s takeover of Euronav
Funds managed by FourWorld Capital Management have filed another complaint regarding Compagnie Maritime Belge’s (CMB) offer to purchase all outstanding…
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Kyiv fixes insurance for more Black Sea cargoes
Insurance broker Marsh McLennan and Lloyd’s of London underwriters have expanded the Ukraine-backed marine war insurance programme from just grain…
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Does GDP matter for shipping?
Pierre Aury has some advice for executives looking too closely at the health of national economies. My January column discussed…
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