Finance and Insurance
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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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OSG withdraws its IPO plans
Overseas Shipholding Group (OSG) has abandoned its plans to raise $100m through an initial public offering (IPO) of shares on the…
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Bugbee buys Scorpio Bulkers shares
Robert Bugbee, president of Scorpio Bulkers, has spent around $432,100 buying shares in the NYSE-listed company. The president purchased a…
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Korean banks face huge losses from bailing out local shipping industry
The overextended state of South Korean shipping and shipbuilding is pushing state-run banks to breaking point. The vast swathe of…
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Eagle Bulk extends forebearance period with creditors for the seventh time
Nasdaq-listed supramax specialist Eagle Bulk has again extended its forbearance and standstill agreement with its creditors overnight as it continues…
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P&I clubs raise reinsurance to $580m per tanker for Iranian crude
Ongoing trade sanctions on Iran by the US have created a $500m gap in third-party liability insurance and pollution cover…
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Diana adjusts sale price to buy panamaxes more cheaply
Some $535,000 has been knocked off the aggregate price of three panamax bulk carriers being acquired by Diana Shipping from…
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Viking Supply proposes standstill agreement with bondholders
Oslo-listed Viking Supply has called a meeting to propose a standstill agreement that would stay its financial obligations to bondholders…
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The curse of the Commodore’s hat
Got shares in Euronav? Sell them today! The current darling of tanker stocks might just have revealed very solid results…
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Paragon’s note sale disappoints, interest payment still outstanding
Investors have largely shunned Paragon Shipping’s latest offering, with only 18.8% choosing to exchange convertible notes for shares in the…
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HMM applies for self-rescue deal
Hyundai Merchant Marine (HMM) has applied for self-rescue measures that could see the South Korean carrier co-managed by its creditors…
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Hellenic Carriers hopes to delist by the end of April
Hellenic Carriers hopes to delist from the AIM market of the London Stock Exchange by April 20, if investors approve…
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Navig8 seals sale and leaseback for product tanker pair
Navig8 Product Tankers has entered sale and leaseback agreements with CMB Financial Leasing for a pair of 74,000dwt LR1 product tankers…
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Hyundai Merchant Marine and KDB agree three-month debt break
Hyundai Merchant Marine (HMM) and Korea Development Bank (KDB) will sign a voluntary agreement on March 29 that will extend…
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Scorpio Bulkers offers more equity, could raise up to $63m
NYSE-listed Scorpio Bulkers is to sell 21m shares in an underwritten public offering, in which shares worth around $15m will…
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