Finance and Insurance
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Seoul debt restructuring vehicle anticipates plenty more ship buys in 2016
Korea Asset Management Corp (KAMCO) anticipates it will continue to buy up plenty of ships from locally distressed lines next…
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Kongsberg withdraws its appeal in Rolls-Royce Marine case
Kongsberg Evotec has decided to withdraw its appeal on a court settlement with Rolls-Royce Marine, in order to save “further…
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Prosafe raises $69.5m through private placement of shares
Prosafe has raised gross proceeds of NOK 590m ($69.5m) through a private placement of around 9.99% of its outstanding shares,…
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CMA CGM gets financing for NOL takeover
French container line CMA CGM has secured “firm commitments” from banks to finance its purchase of a 67% stake in…
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Euroseas stacks shelf for securities sale that could raise up to $400m
NASDAQ-listed Euroseas has filed a prospectus with the US SEC, which will allow the Athens-based shipowner to potentially sell up…
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NewLead fires back at TransAsia in court case, blames co-defendant
More shots have been fired in the ongoing court case between NewLead Holdings and TransAsia Commodities. The Greek shipping company…
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NordLB’s shipping loan portfolio to take a hit over next three years
Germany’s NordLB bank expects to suffer impairments to its €18bn ($19.1bn) shipping loan portfolio over the next three years, reports…
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American Shipping Company refinances two Jones Act tankers
Transportation finance specialist CIT Group has announced that CIT Maritime Finance served as sole lead arranger and administrative agent in…
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CSIC to launch leasing unit next year
China Shipbuilding Industry Corporation (CSIC), the northern Chinese state-run shipbuilding conglomerate, will launch a financial leasing unit next year. “Having…
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Gulf Marine Services gets $620m loan for growth
Gulf Marine Services (GMS) has secured a six-year $620m debt facility from a syndicate of lenders, which the London-listed company said…
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Buy ships now before prices rise: Stopford
Now is the time to delve into the S&P market before prices start to creap up, the world’s most famous…
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China on track to top ship finance leaderboard
Ship finance is a funny old beast that on the face of it does not look to be in step…
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Seacor Marine issues $175m in convertible debt to Carlyle Group
Seacor Marine (SMH), part of NYSE-listed Seacor Holdings, is to issue $175m in convertible notes to investment funds controlled by…
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Scorpio Tankers gets loan, extends timecharter, nixes newbuilding options
Scorpio Tankers will not exercise its options for additional MR product tankers and has secured a new loan for $36m.…
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Rickmers Trust Management back in control of its own finances
Singapore-based Rickmers Trust Management (RTM) has met the conditions required to exit the inter-creditor deed it signed with three syndicates…
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European development bank hands Cypriot manager Interorient $11.4m loan
The European Bank for Reconstruction and Development (EBRD) is providing Cyprus-headquartered Interorient Shipmanagement a $11.4m loan to assist the company’s…
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Saverys looks set to start squeeze-out of remaining CMB shares
The voluntary public takeover of Belgium’s CMB by Marc Saverys’ company Saverco is approaching its final stages, and the ‘squeeze-out’…
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Deutsche Bank goes shopping for non-performing loans in Italy
Deutsche Bank is emerging as an aggressive buyer of non-performing shipping loans in the Italian market. Sources tell Splash that…
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Polarcus shares to trade ex-reverse split from tomorrow
Oslo-listed Polarcus Limited has turned around its reverse stock split in double-quick timing, and its shares will begin trading on…
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Aurora LPG contemplates bond issue
Oslo-listed Aurora LPG says it is considering the issue of up to NOK 200m ($23m) in new senior unsecured bonds…
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