Finance And Insurance News - Marine Insurance & Ship Finance Updates

Finance and Insurance

Time to celebrate corporate governance?

December 10th, 20180 While applauding recent decisions among some listed shipping firms J Mintzmyer from Value Investor’s Edge sets them all a challenge. The shipping sector has...

Finance and Insurance

PIL sells two capes to Chinese leasing house

December 5th, 20180 The Teo family's shipping line has bolstered its bottom line with another sale to a Chinese leasing house. The Teos control Pacific International Lines (PIL), best known...

Finance and Insurance

Zeaborn behind new maritime start-up investor

December 4th, 20180 Zeaborn, the very fast growing German shipowner, is one of three investors in a new maritime tech investor. Based in Hamburg, TecPier launches today with the backing of...

Finance and Insurance

Okeanis Eco Tankers completes funding for newbuild VLCCs

December 3rd, 20180 Okeanis Eco Tankers, the Oslo-listed Alafouzos family tanker vehicle, has raised $45m which ensures its newbuilding program for four VLCCs at Hyundai Heavy is fully...

Finance and Insurance

D’Amico seals another product tanker sale and leaseback deal

December 3rd, 20180 D’Amico International Shipping subsidiary d’Amico Tankers has agreed a deal for the sale and leaseback of 2015-built MR product tanker . The sale price of $27m...

Finance and Insurance

HSH Nordbank sale completed, becomes Hamburg Commercial Bank

November 29th, 20180 The sale of German state bank HSH Nordbank to a consortium of private equity companies, announced in February, has been completed. Cerberus Capital Management, J. C....

Finance and Insurance

Matson inks sale and leaseback deal for 12-year-old boxship

November 28th, 20180 US container line Matson has entered into a sale and leaseback agreement for its 2006-built 2,890 teu containership . Under the agreement, the vessel was sold to an...

Finance and Insurance

Pillarstone and Dea Capital set up investment platforms for distressed Italian shipping companies

November 27th, 20180 Pillarstone Italy and Idea Capital Funds are both poised to launch separate investment platforms focused on the Italian shipping market, with an aim to invest in...

Finance and Insurance

FSL Trust raising $31.3m for new ships

November 27th, 20180 Singapore’s First Ship Lease Trust is proposing a preferential offering of around 965m new units to raise gross proceeds of up to S$43.03m ($31.3m). The company...

Finance and Insurance

Pacific Basin closes $40m loan facility

November 23rd, 20180 Hong Kong-based bulk carrier operator Pacific Basin has closed a $40m loan facility with Danish Ship Finance. The seven-year facility is an extension of the...

Finance and Insurance

GNG Ocean Shipping secures financing for chemical tanker pair

November 19th, 20180 China’s state-owned GNG Ocean Shipping has entered into an agreement with BNP Paribas for the financing of two of the company’s newbuild chemical tankers. Under...

Finance and Insurance

Sovcomflot secures $149m credit facility for LNG carrier newbuild

November 15th, 20180 Russia’s largest state run shipping firm Sovcomflot has signed a 10-year $149m credit facility with a consortium formed by ING Bank, KfW IPEX-Bank, and Crédit...

Finance and Insurance

Evan Cohen joins CIT

November 13th, 20180 Famous American ship financier Evan Cohen has been tapped to run American bank CIT’s maritime finance business. Cohen, best known for his time at DVB Bank, had most...

Finance and Insurance

CSSC Shipping applies for Hong Kong listing

November 13th, 20180 CSSC Shipping, the shipowning unit of China State Shipbuilding Corporation, has submitted an application for an IPO on the Hong Kong Stock Exchange. The company plans...

Finance and Insurance

Financing of scrubbers comes under attack

November 12th, 20187 How shipowners go about financing scrubber installations is attracting criticism across the globe. Scrubbers have hit the mainstream press headlines recently,...

Finance and Insurance

Foremost secures Taiwanese financing for newbuild bulker pair

November 12th, 20180 US-based dry bulker owner Foremost Group has entered into a $41.14m loan deal with First Bank of Taiwan to finance two of the company’s newbuildings. The five-year...

Finance and Insurance

As cranes continue to tumble, ports are urged to install laser sensor technology

November 8th, 20181 With quay cranes tumbling around the world in recent months insurer TT Club has urged port operators to install laser sensor technology to avoid costly...

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Splash Dash

Gard issues warning on scrubber ban proliferation
Gard P&I has published an eye-opening map (see below) of places around the world it believes... Jan 18th, 2019 inEnvironment
Manila broadens discussions with overseas firms to acquire bust Hanjin Subic
Authorities in the Philippines are determined to give Hanjin Heavy Industries and Construction... Jan 18th, 2019 inShipyards
Shipping’s black box gets blockchain upgrade
The voyage data recorder (VDR) – shipping’s black box – could become a blockchain box with... Jan 18th, 2019 inTech
Nick Elliott: Shipping thriller trilogy
In need of some weekend reading? Well then, marine claims investigator Angus McKinnon is back in... Jan 18th, 2019 inMaritime CEO
Maersk starts random box checks in latest bid to stamp out scourge of misdeclared cargoes
In a bid to stamp out misdeclared cargoes, Maersk has started carrying out random container checks... Jan 17th, 2019 inContainers

Algoma acquires Oldendorff bulker trio in CSL pool

North’s post-Brexit Irish subsidiary up and running

Saipem awarded $1.3bn worth of offshore contracts by Saudi Armanco

CMA CGM bids adieu to the MacAndrews brand

Algoma acquires Oldendorff bulker trio in CSL pool

Seacor Marine acquires three more PSVs from Cosco

Ocean Infinity awarded Petrobras survey work

Dole books reefer boxship pair at CSSC Chengxi

Saipem awarded $1.3bn worth of offshore contracts by Saudi Armanco

ADNOC acquires boxship from Celsius Shipping

Oman Shipping Company in for four DSME VLCCs

ZIM readies the end of paper bills of ladings

Manila broadens discussions with overseas firms to acquire bust Hanjin Subic

Shipping’s black box gets blockchain upgrade

BW completes Hafnia merger

Oshima markets rare 2019 bulker resale

Nord/LB files court case against Brightoil

Bureau Veritas reveals Donche-Gay’s successor

Shanghai Bestway chairman fails to sell his shares again

Last Union Rich Shipping vessel sold at auction

Maersk debuts alternative cargo insurance offering