Finance and Insurance
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Bunker spill detected from burnt VLCC off Sri Lanka
Adam Polemis’s New Shipping and his recently selected P&I Club are facing a sizeable bill for the ongoing operation to…
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FSL Trust seals Chinese leasing deal for LR2 pair
Singapore’s First Ship Lease Trust has sealed a deal with a Chinese leasing company for the sale and leaseback of…
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Tomorrow’s shipping CFO
Paul Ratcliffe from Singapore-based HR firm Ignition Global details key findings from a regional survey of shipping and maritime CFOs.…
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H&W Group: Reviving British shipbuilding
On Tuesday the British prime minister, Boris Johnson, headed to Devon in the southwest of the country to visit a…
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London tipped to land ZIM IPO
Israeli container shipping company ZIM is considering an overseas initial public offering, Israeli news website Globes reported yesterday. The carrier…
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Ciner Shipping inks sale and leaseback with CSSC Shipping for newbuild suezmax tanker pair
Ciner Shipping, led by Turkish owner Turgay Ciner, has entered into an agreement with CSSC Shipping, the financial leasing unit…
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Valaris files for chapter 11 as part of financial restructuring
Offshore driller Valaris has entered into a binding restructuring support agreement (RSA) and backstop commitment agreement (BCA) with around 50%…
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Japanese FPSO secures financing from JBIC
Japan Bank for International Cooperation (JBIC) has entered into an agreement to provide a project loan for a floating production…
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Insurers brace for $3bn Beirut blast bill
Insurers are bracing for a bill from the Beirut port blast similar to $3bn hit they took in the wake…
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Star Bulk Carriers completes 16-vessel series of sale and leaseback deals
Greek dry bulk vessel operator Star Bulk Carrier has completed a slew of sale and leasebacks with Chinese and Japanese…
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Bank of Valletta seeks €50m out-of-court settlement with out-of-pocket Deiulemar bondholders
Malta’s Bank of Valletta has offered a €50m ($59m) out-of-court settlement to Italian bondholders of defunct Deiulemar, in return to…
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Pillarstone and DeA Capital take control of Perseveranza fleet
The debt restructuring of Naples-based Perseveranza di Navigazione has come to an end. The procedure was related to non-performing loans…
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Jiangsu Financial Leasing and Zhejiang Shipping Exchange form ship financing partnership
Jiangsu Financial Leasing and Zhejiang Shipping Exchange have entered into a partnership agreement to collaborate on ship financing. The two…
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Cambiaso Risso takes over Greek P&I broker Fender
Italian insurance broker Cambiaso Risso has announced the takeover of Fender SA, a boutique marine insurance broker in which the…
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Storytelling and fundraising
Charlie Du Cane, commercial director at Seastar Maritime, on the art of pitching shipping projects to investors My grandfather was…
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PIL wins interim funding from Temasek unit
Embattled Pacific International Lines (PIL) has won interim funding from a unit of Singapore’s sovereign wealth fund, Temasek Holdings, to…
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Italian shipping private equity players club together
A ports and shipping investment club has been launched in Italy. Called Vsl Club, the new investment vehicle is led by…
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Okeanis Eco Tankers seals charters for suezmax newbuild pair
Okeanis Eco Tankers (OET), the Oslo-listed Alafouzos family tanker vehicle, has sealed charters for two suezmax tankers set for delivery…
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GasLog seals $1bn refinancing
Piraeus-headquartered GasLog and GasLog Partners have secured three new loan agreements to refinance the group’s debt maturities due in 2021. GasLog…
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Offshore drillers Valaris and Noble Corporation stop making interest payments
Under pressure offshore drillers Valaris and Noble Corporation have both stopped making interest payments. Valaris disclosed after-hours yesterday that it…
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