Finance and Insurance
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Norwegian oil watchdog comes in for criticism
Oslo: Employees from two of Norway’s most important government watchdogs employed to cover the oil sector have been criticised for…
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ESL Shipping lands windfall by offloading Alandia insurance stake
Helsinki: Baltic Sea bulk operator ESL Shipping has sold its 3.5% share of insurance company Försäkringsaktiebolaget Alandia to Bore Ltd,…
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Maersk Line taps HP for key position
Copenhagen: Maersk Line has hired Frenchman Pierre Danet as the containerline’s new CFO. Danet also joins the management board. The…
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Capital Product Partners cancels “opportunistic” fundraiser
Athens: NASDAQ-listed Capital Product Partners has cancelled plans to refinance its existing debt through the bond market, saying its pursuit…
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Maritime businesses should watch out for fraud, warns ITIC
London: Maritime businesses should be vigilant for fraudulent emails altering the bank details of recipients for payment transactions, the International Transport…
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Petronas falls short in fundraising goal
Kuala Lumpur: Asia’s second-largest dollar bond issue was concluded today to muted applause. Malaysian energy giant Petronas’s $5bn deal was…
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London Offshore Consultants opens in Sydney
Sydney: Maritime and offshore engineering consultancy London Offshore Consultants (LOC) has expanded its Australian presence by opening an office in…
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NewLead Holdings secures $10m debenture for fleet expansion
Athens: NewLead Holdings has closed a $10m senior secured debenture from TCA Fund Management, with an initial draw of $4.25m…
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Shipping Corp holed below by sinking dry bulk rates
Mumbai: India’s largest shipowner Shipping Corporation of India (SCI), which recently emerged from a three-year period in the red, fears…
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Investment fund scoops up more of Scorpio Bulkers
Monaco: Investment manager Wellington Management has raised its share in New York-listed Scorpio Bulkers by almost 3.45m shares, a US…
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Denzil Stuart, famous name in marine insurance, dies aged 83
London: Denzil Stuart, one of the best-known names in shipping insurance has died, aged 83. Stuart was both a journalist…
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Singapore Shipping Corporation charters PCTC to NYK
Singapore: Singapore-listed Singapore Shipping Corporation (SSCL) has fixed a term loan facility of up to $77m with an unspecified Japanese…
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EMAS Offshore issues new notes
Singapore: Oslo and Singapore listed EMAS Offshore has announced that it will be looking to raise $500m in funds, establishing…
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Maersk directors scoop millions from bank sale
Copenhagen: AP Moller Maersk’s sale of its 20% stake in Danske Bank has sent the light blue line’s shares through…
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Bahri moves to raise $1bn
Dubai: Saudi Arabian tanker giant Bahri is selling ten-year sukuk worth RYLS3.9bn ($1.04bn) this month to repay debts. Bahri, which…
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NYK sells Crystal Cruises to Genting for $550m
Hong Kong: Japan’s shipping giant Nippon Yusen Kaisha is selling Crystal Cruises to Genting Hong Kong for $550m. The deal…
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Holländer named as CEO of MPC Capital
Hamburg: MPC Capital has promoted from within for its new CEO. The firm’s CFO, Ulf Holländer, has taken the reins…
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Huge reduction in dry bulk vessels ordered in 2015 to date
London: Only 27 dry bulk vessels have been ordered so far this year, a 91% contraction compared with the 301…
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European owners looking to Asia for financing
Hamburg: Asia continues to gain in importance for the European shipping sector. This is the result of a recent survey…
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Singapore’s first War Risks Mutual launched
Singapore: The Standard Club Asia Ltd (Standard Asia) has today announced the launch of its new Singapore War Risks Mutual…
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