Finance and Insurance
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Cosco acquires 35% stake in Hamburg container terminal
Hamburger Hafen und Logistik (HHLA) and Hong Kong-listed terminal operator Cosco Shipping Ports Limited (CSPL) have struck a deal that…
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Shipping green tech fund launches on the New York Stock Exchange
The creators of one of this year’s star performers among exchange-traded funds will debut today a green shipping investment fund.…
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Velesto takes $8m profit hit after contract termination for sunken rig
Malaysian offshore driller Velesto Energy said that a contract with ConocoPhillips for its Naga 7 jackup rig that sank off…
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Dry bulk flashes red as Evergrande contagion fears grow
Fears of contagion from the possible collapse of Chinese real estate giant Evergrande sent mining stocks in Australia and shipping…
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Jacobs offloads Worley stake for $505m
US-based Jacobs Engineering has sold its stake in Australian offshore engineering company Worley in a block trade via investment bank…
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SBM Offshore closes $1.6bn project financing for FPSO Sepetiba
Dutch FPSO specialist SBM Offshore has completed the project financing of the floating production storage and offloading (FPSO) unit Sepetiba…
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AYRO completes fundraising for Oceanwings technology
French marine design company AYRO has receiving a capital injection of €10.5m from America’s Ocean Zero as well as France’s…
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US investment firm KKR to buy Ocean Yield for $830m
US investment company Kohlberg Kravis Roberts (KKR) has offered to acquire Norwegian shipowner Ocean Yield for NOK7.2bn ($829.8m). The offer…
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BW Offshore strikes equity joint venture deal for Barossa FPSO
Oslo-listed BW Offshore has entered into a partnership for the equity financing of the floating production storage and offloading (FPSO)…
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Santos and Oil Search ink merger deal
Santos and Oil Search have struck a definitive deal to merge the two companies in an all-scrip transaction, setting the…
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Minority shareholders voice concerns over DOF debt restructuring
Norwegian offshore vessel owner DOF is facing hurdles as it tries to negotiate a debt restructuring deal. Smaller shareholders have…
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ADNOC to list drilling business in Abu Dhabi IPO
Abu Dhabi National Oil Company (ADNOC) is planning to sell 7.5% shares in its drilling unit on the Abu Dhabi…
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Seadrill set to emerge from chapter 11 after court approves restructuring plan
John Fredriksen-controlled offshore driller Seadrill has received approval from a court in Texas for its proposed restructuring plan, setting the…
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CSBC eyes boxship leasing entry
Another Asian shipbuilder is readying to enter the leasing business. Taiwan’s CSBC Corp has unveiled a new containership leasing strategy…
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Eidesvik Offshore strikes refinancing deal
Norwegian vessel owner and operator Eidesvik Offshore has struck a refinancing deal with banks for the extension of the final…
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BW Offshore closes $1.15bn project financing for Barossa FPSO
Oslo-listed BW Offshore has completed the $1.15bn project debt financing for the construction and operation of the floating production storage…
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Insurer gives warning as desperate shippers seek bulk carriers to move containers
Leading exporters are chartering bulk carriers to move containers, something the UK P&I Club has warned carries a raft of…
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Prosafe loses Westcon court battle over rig conversion
Offshore accommodation vessel specialist Prosafe has been unsuccessful in its appeal to the Norwegian Supreme Court over NOK465m ($53.5m) bill…
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How shipowners can navigate rising inflation
Should shipping be worried by the direction of many central banks? Splash Extra interviewed economists, brokers, financiers and owners on…
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John Fredriksen further reduces stake in Seadrill
John Fredriksen continues to divest his stake in the financially troubled offshore driller Seadrill, reducing ownership to just under 20%.…
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