Finance and Insurance
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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…
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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…
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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…
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Putin prioritises Sovcomflot IPO
With the Russian economy in trouble president Vladimir Putin has this week summoned the heads of a number of leading…
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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…
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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…
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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…
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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…
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‘Dry bulk is a screaming buy’: Patitsas
Bulkers are a “screaming buy” and now is one of the best-ever times to start acquiring them – but expect…
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DNB Markets CEO says ‘traditional’ shipowners will weather stormy markets
Privately owned “traditional” shipping companies with diversified fleets will be best placed to weather “tsunami”-like markets over the near term,…
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Prestige ruling leaves London P&I Club open to claims of up to €4bn
Yesterday Spain’s Supreme Court sentenced Apostolos Mangouras, the captain of the Prestige tanker, which sank off Spain’s northwestern coast in…
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Safe Bulkers refinances another loan
Safe Bulkers has secured a new $40m term loan from Danmarks Skibskredit (Danish Ship Finance) to refinance an existing $44.9m credit…
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Euronav buys back its shares
Tanker operator Euronav has spent EUR4.8m ($5.2m) in buying back 500,000 of its own shares in seven different transactions made…
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GRM Investments becomes major Scorpio Bulkers shareholder
GRM Investments Ltd, part of Canadian property developer Onni Group, has acquired an 8.65% stake in Scorpio Bulkers (SALT) to…
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When revenue streams don’t support the capital costs of new ships
Renowned ship financier Paul Slater from First International looks at the year ahead. A new year has begun, but not…
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Korea Eximbank cuts export financing for first time in 40 years
The Export-Import Bank of Korea (Korea Eximbank) will cut export financing in 2016 for the first time in 40 years.…
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Precious makes $100m from public offering
Thailand’s Precious Shipping has raised THB3.59bn ($99.72m) through a public offering of debentures. Some 3.59m of the units were sold…
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Baltic Dry Index’s three-week rout comes to a halt
The Baltic Dry Index’s seemingly constant decline was halted today, as the index remained at Friday’s level of 354 points.…
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Anthony Veder secures shipping’s first sustainable loan
Gas tanker specialist Anthony Veder has concluded what it describes as the first sustainable shipping loan. The EUR66m private placement…
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NITC to list to help fund newbuild programme
Iran’s leading tanker firm is eyeing a listing to help fund its large fleet expansion plans in the wake of…
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