Finance and Insurance
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Japanese FPSO secures financing from JBIC
Japan Bank for International Cooperation (JBIC) has entered into an agreement to provide a project loan for a floating production…
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Insurers brace for $3bn Beirut blast bill
Insurers are bracing for a bill from the Beirut port blast similar to $3bn hit they took in the wake…
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Star Bulk Carriers completes 16-vessel series of sale and leaseback deals
Greek dry bulk vessel operator Star Bulk Carrier has completed a slew of sale and leasebacks with Chinese and Japanese…
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Bank of Valletta seeks €50m out-of-court settlement with out-of-pocket Deiulemar bondholders
Malta’s Bank of Valletta has offered a €50m ($59m) out-of-court settlement to Italian bondholders of defunct Deiulemar, in return to…
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Pillarstone and DeA Capital take control of Perseveranza fleet
The debt restructuring of Naples-based Perseveranza di Navigazione has come to an end. The procedure was related to non-performing loans…
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Jiangsu Financial Leasing and Zhejiang Shipping Exchange form ship financing partnership
Jiangsu Financial Leasing and Zhejiang Shipping Exchange have entered into a partnership agreement to collaborate on ship financing. The two…
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Cambiaso Risso takes over Greek P&I broker Fender
Italian insurance broker Cambiaso Risso has announced the takeover of Fender SA, a boutique marine insurance broker in which the…
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Storytelling and fundraising
Charlie Du Cane, commercial director at Seastar Maritime, on the art of pitching shipping projects to investors My grandfather was…
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PIL wins interim funding from Temasek unit
Embattled Pacific International Lines (PIL) has won interim funding from a unit of Singapore’s sovereign wealth fund, Temasek Holdings, to…
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Italian shipping private equity players club together
A ports and shipping investment club has been launched in Italy. Called Vsl Club, the new investment vehicle is led by…
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Okeanis Eco Tankers seals charters for suezmax newbuild pair
Okeanis Eco Tankers (OET), the Oslo-listed Alafouzos family tanker vehicle, has sealed charters for two suezmax tankers set for delivery…
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GasLog seals $1bn refinancing
Piraeus-headquartered GasLog and GasLog Partners have secured three new loan agreements to refinance the group’s debt maturities due in 2021. GasLog…
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Offshore drillers Valaris and Noble Corporation stop making interest payments
Under pressure offshore drillers Valaris and Noble Corporation have both stopped making interest payments. Valaris disclosed after-hours yesterday that it…
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Allianz warns on potential spike in accidents brought about coronavirus-inspired downturn
Insurer Allianz’s annual shipping review, published today, warns the consequences of coronavirus and a sustained economic downturn could threaten long-term…
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MPC Container Ships completes rapid recapitalisation process
Shareholders have backed MPC Container Ships’ rescue package of a private placement of 260m new shares, raising gross proceeds of…
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Castor Maritime raises more cash for ships
Nasdaq-listed Greek dry bulk owner Castor Maritime looks set for an exciting ship acquisition spree after raising $17.3m via a…
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UN secretary-general calls for shipping bailouts to be tied to the Paris Agreement
The United Nations secretary-general António Guterres has suggested any bailouts for shipping ought to be tied to commitments to the Paris…
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Vogemann touts new blockchain-based handy Green Deal
German shipping company Vogemann has started a new way of financing, using blockchain-based Green Shipping Token to expand its fleet of bulk…
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Klaveness Combination Carriers secures green financing for two vessels
Norwegian owner Klaveness Combination Carriers has secured a $60m sustainability linked term loan and revolving credit facility for the financing of…
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Shipping’s darkest secret: suicides at sea
Shipping has been accused of covering up the numbers of suicides at sea with urgent calls to be more transparent…
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