Finance and Insurance
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Eagle Bulk holds off its lenders after missed repayment
Eagle Bulk Shipping has signed a forbearance and standstill agreement with its lenders that will hold off any action after…
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Swiber buys stake in Nigerian offshore engineering company
Swiber Offshore Construction has bought a 38% stake in Nigeria’s Deltatek Offshore, which will see the offshore engineering provider become…
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India to launch local P&I Club
An Indian P&I Club is on the cards as part of New Delhi’s ‘Made in India’ drive. The government is…
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SPP allowed to issue refund guarantees after 18-month hiatus
SPP Shipbuilding, which is likely to be sold soon, has celebrated a landmark moment in its rehabilitation. For the first…
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Ultrapetrol’s loan negotiations continue after deadline, share price takes a hit
Ultrapetrol’s 30-day grace period following a missed interest payment has ended, and the NASDAQ-listed company is seeking an extra two…
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Vantage Drilling’s chapter 11 plan confirmed
A US judge has confirmed Vantage Drilling’s chapter 11 plan, which aims more than halve the company’s debt load. The…
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Ardmore refinances its outstanding debt with $364m in new credit facilities
NYSE-listed Ardmore Shipping has refinanced all of its outstanding debt and extended its loan maturities to 2022, which the company…
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Siem Shipping names new CEO
Kenneth Ross will succeed Simon Stevens as CEO of Oslo-listed Siem Shipping Inc, which owns and operates refrigerated vessels Ross…
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Scorpio Tankers upsizes loan from ING Bank by $45.5m
NYSE-listed Scorpio Tankers has increased its existing credit facility with ING Bank by $45.4m to a total of $132.5m. The…
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NewLead still unable to provide CEO’s ‘missing’ emails
Michael Zolotas, CEO of NewLead Holdings, appears to be unable to produce almost 1,500 emails pertinent to an ongoing court…
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Former Hapag-Lloyd CFO takes over MPC Capital’s shipping activities
Peter Ganz has joined the top management team of the Hamburg asset and investment manager MPC Capital. The 48-year old…
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Navig8 Product Tankers gets $128.5m loan for LR1 newbuildings
Navig8 Product Tankers has agreed a $128.5m secured loan from Credit Agricole Corporate and Investment Bank (CACIB) and BNP Paribas,…
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Paragon sells panamax bulk carrier to repay loan
NASDAQ-listed Paragon Shipping has sold its panamax bulker for $3.5m in cash to an unnamed buyer. The net proceeds from…
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Aker agrees new American Shipping Company TRS scheme
The Aker Group’s subsidiary Aker Capital II has entered into a total return swap agreement with DNB Markets, part of…
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Standard Life opposes Shell’s takeover of BG Gas
Standard Life, a major investor in Royal Dutch Shell, says it will vote against the oil major’s proposed takeover of…
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Fujian Huadong Shipyard transfers yard assets to China Minsheng Bank
Fujian Huadong Shipyard has announced that it has transferred the ownership of its land assets and yard assets to the…
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Frontline Management CFO buys more FRO shares
Inger M. Klem, Frontline Management’s CFO, has increased her share in Frontline Ltd (FRO) to 900,000 shares by buying some…
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Diana Shipping gets $76m loan for Newcastlemaxes from Export-Import Bank of China
Greece’s Diana Shipping has signed a term loan facility for up to $75,734,900 with the Export-Import Bank of China. The…
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Fugro completes $106m sale and leaseback for geotechnical pair
Dutch offshore operator Fugro has completed a sale and lease back agreement with ICON Investments for geotechnical drilling vessels Fugro…
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Baltic Dry Index takes a turn for the worse
The Baltic Dry Index (BDI) has reached another all-time low level for a third consecutive trading day, falling 22 points…
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