Finance and Insurance
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New accounting standards see debt levels among leading liners soar 50%
New accounting standards effective from the start of this year have made for some massive debt increases for the world’s…
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Oldendorff secures financing deals for 23 ships with Chinese leasing firms
German bulker operator Oldendorff has completed a total of 23 deals with three Chinese leasing companies in the past twelve…
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Sulphur cap claims stack up six months ahead of implementation
At a conference held in town downtown Oslo today organised by class society DNV GL, delegates were warned of the…
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Nor-Shipping ought to celebrate finance achievements
I’m more involved in this year’s Nor-Shipping than normal, helping Jannis Kostoulas get his first Oslo Mare Forum up and…
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Fredriksen’s Flex LNG to list on NYSE next month
John Fredriksen’s Flex LNG will proceed with a direct listing on the New York Stock Exchange (NYSE) next month, having…
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Huge disparity in additional premiums in wake of Fujairah attacks adds to confusion
A huge disparity in additional premiums for the new Listed Areas in the Middle East, leveraged in the wake of…
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CSSC Shipping eyes $278m via Hong Kong IPO
CSSC Shipping, the shipowning and leasing unit of China State Shipbuilding Corporation (CSSC), is looking to raise up to HK$2.18bn…
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PGS initiates $675m refinancing
Norwegian offshore survey service provider PGS has initiated a refinancing program seeking to raise about $675m in total. The company…
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Golar LNG confirms direct listing plan for its gas carriers
Tor Olav Trøim’s Golar LNG will spin off its LNG carrier business into a separate public vehicle, going down the…
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Joint War Committee extends high risk area across the Gulf
In the wake of attacks on four tankers in waters near Fujairah eight days ago, the Joint War Committee of…
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Pacific Basin secures $115m credit facility
Hong Kong bulker owner Pacific Basin has completed a new $115m seven-year reducing revolving credit facility secured over ten of…
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Lloyd’s warns of ‘significant claims’ from Fujairah attacks
Citing the scant information available at present, the Joint War Committee (JWC), which comprises underwriting representatives from both the Lloyd’s…
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Maersk Product Tankers seals sale and leaseback of four MRs
Maersk Product Tankers has entered into a sale and leaseback agreement with China’s ICBC for four MR tankers. The first…
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Joint War Committee to hold urgent talks on the back of Fujairah attacks
Shipowners should brace for higher insurance premiums for ships transiting the Middle East. The Joint War Committee (JWC), which comprises…
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Temasek subsidiary revealed as PIL backer
It has emerged that funds linked to Singapore’s sovereign wealth fund Temasek Holdings have come to the rescue of the…
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Macquarie shuffles North American port investments to focus on Long Beach
Macquarie has had a massive clear out of its North American port assets to focus on taking over OOCL’s Long…
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Mjølner and MID-SHIP launch new product tanker fund
Commercial manager Mjølner Shipping Holdings and transport investment banking firm MID-SHIP Capital have launched their second fund, the Mjølner Product…
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Sovcomflot seals $297m financing for newbuild LNG carriers
Russian shipping group Sovcomflot has secured a new 10-year $297m credit facility from international banks ING Bank, KfW IPEX-Bank, and…
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Flex LNG listing in New York moves a step closer
John Fredriksen’s Flex LNG has moved a step closer to listing on the New York Stock Exchange, having publicly filed…
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Grindrod seals financing for ultramax pair, sells handy bulker and product tanker
Nasdaq-listed Grindrod Shipping has sealed financing for two newbuild ultramaxes and also announced the sale of two of its vessels.…
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