Finance and Insurance
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Controversial Navios loan sparks lawsuit
A controversial $50m loan from one Navios company to another has sparked a lawsuit in the US. Bulker owner Navios…
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Shipping magnates could sink alongside Putin in Panama Papers scandal
Shipping – long viewed as a shady conduit for money transactions – is to the fore in the revelations from…
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Primorsk ditches restructuring in favour of ship sell-off
Russian tanker player Primorsk International Shipping has dropped its restructuring plans in favour of pushing through asset sales, its lawyers…
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Bahri secures islamic financing for five newbuild VLCCs
National Shipping Company of Saudi Arabia (Bahri) has announced financing, via a Murabaha facility, for five VLCCs the company has…
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Deloitte Anjin loses HMM contract
Korea Development Bank (KDB) has ditched due Deloitte Anjin to carry out due diligence on Hyundai Merchant Marine (HMM) because…
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Cambiaso Risso takes back ship agency business
Six years after the split of its insurance brokerage and ship agent businesses, Cambiaso Risso Group is reconsolidating its activities…
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Unaoil raided on corruption charges in Monaco, multinationals implicated
Oil company Unaoil and the homes of its bosses have been raided by authorities in Monaco as part of a…
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What the US presidential election harbours for shipping
With the United States presidential campaign season having started earlier this round and having become more of a circus than…
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Still no financing for third vessel bought by Diana Shipping
Diana Shipping has drawn down from its ABN AMRO loan to finance two of three panamax bulk carriers it recently…
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Eagle Bulk Shipping secures future with recapitalisation deal
Eagle Bulk Shipping has announced that it has reached an agreement with the company’s lenders and holders of approximately 75%…
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Seadrill ‘in debt talks’ with Houlihan and Morgan Stanley
Seadrill is believed to have hired Houlihan Lokey and Morgan Stanley as advisers during negotiations for its $11bn debt restructuring,…
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Bulk carrier scrapping hit an all-time high in the first quarter 2016
Bulk carrier demolitions reached an all-time high during the first quarter of 2016, both on an absolute basis and as…
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Songa Offshore refinances with convertible bond for up to $125m
Songa Offshore is to go ahead with its “comprehensive refinancing” by issuing a convertible bond of between $100m and $125m.…
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HMM creditors approve self-rescue deal
Hyundai Merchant Marine’s (HMM) creditors, led by state-run Korea Development Bank, have approved the South Korean shipping company’s self-rescue plan,…
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Economou loads DryShips revolver with additional $10m
Drybulk specialist DryShips has announced today that it has entered into an agreement to increase its secured revolving facility, provided…
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Centrofin sells two
Greece’s Centrofin has sold two 20-year-old aframax tankers to Turkish interests, according to brokers’ reports. Sisterships Ce Breeze (105,200 dwt,…
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NewLead accused of stock manipulation, bank fraud and money laundering
A commodity trader suing NewLead Holdings for breach of contract has made extraordinary allegations of stock manipulation, bank fraud and…
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Globus sells panamax to pay back loan
Greece’s Globus Maritime has sold a vessel holding company that beneficially owns one of its panamax bulk carriers in order…
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Hanjin Shipping confirms asset sales are on the cards
Hanjin Shipping, questioned by the Korea Stock Exchange, has confirmed earlier reports carried by this site that it is looking…
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Bourbon Offshore said to be considering going private
Jacques de Chateauvieux, the chairman of Bourbon, is thinking of taking the offshore services company into private ownership, reports say.…
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