Finance and Insurance
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Eagle Bulk gets another 72 hours
Nasdaq-listed supramax specialist Eagle Bulk has extended its forbearance and standstill agreement with its creditors by a further three days.…
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Lithuanian Shipping fleet to be auctioned off
Bankrupt Lithuanian Shipping is to sell its fleet of five small bulk carriers in a court-ordered auction, which will raise…
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Paragon Shipping splits its stock
Nasdaq-listed Paragon Shipping is to undertake a 1-for-38 reverse stock split of its issued and outstanding Class A common shares.…
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Things I think about while running: London
It was a genuinely fast and furious run up to today’s newsletter here at Splash. Next week the site celebrates…
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Hafnia Tankers seals $360m fleet refinancing
Hafnia Tankers has signed for a new $360m credit facility to refinance an existing credit facility, saving on interest costs…
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Gestioni Armatoriali at war with Deutsche Bank
Gestioni Armatoriali of Italy is staging a bitter war against Deutsche Bank since the German lender has become one of…
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Singapore Exchange bids for the Baltic Exchange
Cementing its place as the world’s most vibrant shipping hub, Singapore has moved to take over one of the industry’s…
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Britannia and UK P&I Clubs in merger discussions
The boards of the Britannia Club and the UK P&I Club, two of the oldest P&I clubs in the world,…
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Japanese shipowners blast ‘unfair’ Western Bulk Chartering sell-off
Six unnamed Japanese shipowners say Kistefos’ acquisition of Western Bulk Chartering (WBC) should be reversed because the company was undervalued…
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Gaslog confirms LNG carrier sale and lease-back
GasLog Ltd has sold its 170,000-cbm LNG carrier to a subsidiary of Mitsui Co Ltd and will lease the vessel…
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Cash injection to help J. Lauritzen tide over tricky 2016
J. Lauritzen is getting additional cash of around $125m to tide it over this year from its sole shareholder, Lauritzen…
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Sevan Marine to cut headcount again, remaining staff offered salary cuts
Norway’s Sevan Marine reduced its global headcount by almost 30% during the fiscal year 2015 and has plans to cut…
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Island Offshore updates restructuring plans
Island Offshore Shipholding has announced it has reached agreement in principle on the terms of a proposed restructuring with certain…
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ICBC Leasing issues $200m shipping assets bond
ICBC Leasing, the financial leasing arm of ICBC, has issued $200m of offshore shipping bonds through a special purpose vehicle…
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Saga Tankers commences share buy-back scheme
Oslo-listed Saga Tankers has begun repurchasing its shares by acquiring 7.0m of its own shares on the open market for…
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Ultrapetrol listing moved to Nasdaq Capital Market
Ultrapetrol has transferred its public listing to the Nasdaq Capital Market from the Nasdaq Global Select Market after failing to…
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Golden Ocean shareholders approve increase in share capital
Golden Ocean shareholders have voted to increase the company’s authorised share capital to $6m, divided into 600,000,000 common shares with…
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Eagle Bulk gets another week to solve liquidity crisis
Supramax specialist Eagle Bulk has been granted an extra week of its forbearance period. The NASDAQ-listed firm now has until…
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NordLB forms joint venture for restructuring of shipping loans
German bank NordLB has announced a new joint venture with Reederei Offen Group and Caplantic to advise on the restructuring…
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DVB poaches HSH’s head of shipping
DVB has poached HSH Nordbank’s top shipping executive. Ingmar Loges, 52, will join DVB’s global shipping management team as co-division…
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