Finance and Insurance
-
Saga Tankers upsizes plan to increase share capital
Oslo-listed Saga Tankers has authorised a plan to raise its share capital by issuing new shares worth up to NOK…
Read More » -
Offshore Group Investment Limited completes restructuring, changes name
Offshore Group Investment Limited (OGIL) has completed its prepackaged Chapter 11 restructuring in the US and will change its name…
Read More » -
RBS renews efforts to divest ship finance arm
Royal Bank of Scotland (RBS) is a step closer to offloading its ship finance assets. Sky News is reporting that…
Read More » -
Wilhelmsen spins off Treasure entity holding Hyundai Glovis stake
Wilh. Wilhelmsen has revealed plans for Den Norske Amerikalinje, which owns a 12% shareholding in Hyundai Glovis, that will see…
Read More » -
Golar LNG Partners buys FSRU from Golar, secures $800m loan
Golar LNG Partners is to acquire the Golar Tundra floating storage and regasification unit (FSRU) from the vessel’s current operator…
Read More » -
Ardmore secures $64m loan to support growth
NYSE-listed Ardmore Shipping has agreed a $64m senior secured term loan with Credit Agricole Corporate and Investment Bank to help…
Read More » -
Hansson sounds off as Nordic American Tankers declares another dividend
Just after Nordic American Tankers (NAT) posted “the strongest full-year cash flow in the company’s history” this week, chairman and…
Read More » -
Conman who persuaded Allseas to hand over $105m jailed for 14 years
The conman who nabbed $105m in an elaborate fraud against shipping firm Allseas was jailed for 14 years at a…
Read More » -
Eagle Bulk pays missed loan installment, extends forbearance period again
Eagle Bulk has made the quarterly loan repayment it missed in January and has extended its forbearance and standstill agreement…
Read More » -
Conman who fleeced Allseas out of $105m faces lengthy jail sentence
A court yesterday heard more salacious details of the conman who managed to fleece Dutch shipping line Allseas out of…
Read More » -
Western Bulk’s survival hangs in the balance
Having completed the sale of its chartering unit, Western Bulk (to be renamed Bulk Invest) is looking for ways to…
Read More » -
Fred. Olsen to merge Bonheur and Ganger Rolf
Fred. Olsen & Co is to consolidate two of its publically listed holding companies by merging Ganger Rolf into Bonheur,…
Read More » -
Year of the Fire Monkey: an insurer’s perspective
Matthew Cannock from Markel International (Singapore) looks at the year ahead. One of the most pronounced ‘Goat’ traits is generosity…
Read More » -
ICBC and Antwerp Port collaborate
Antwerp Port Authority has signed a Memorandum of Understanding (MoU) with the Industrial and Commercial Bank of China (ICBC) to…
Read More » -
Safe Bulkers extends loan tenor with DNB Bank
NYSE-listed Safe Bulkers has extended the tenor of its existing credit facility with DNB (UK) by a further two years…
Read More » -
Putin prioritises Sovcomflot IPO
With the Russian economy in trouble president Vladimir Putin has this week summoned the heads of a number of leading…
Read More » -
Eagle Bulk extends forbearance period with creditors
Eagle Bulk has extended its forbearance and standstill agreement with its creditors by a further week, which will give the…
Read More » -
Western Bulk Chartering sold to chairman’s investment firm
Western Bulk has sold its subsidiary Western Bulk Chartering to Kistefos AS, a Norwegian private investment firm led by Christen…
Read More » -
Seadrill ‘likely’ to raise $1bn in equity to cover $2.5bn funding gap
The existence of John Fredriksen’s drilling company Seadrill is being threatened by “an approaching iceberg of debt”, which will require…
Read More » -
Nobu Su locked in court battle with RBS trio
Nobu Su’s tirade against banks has been taken to a new level. The Taiwanese boss of bankrupt TMT has launched…
Read More »