Finance and Insurance
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Splash Extra: Chinese ship leasing feels the heat
The precarious state of many Chinese ship leasing houses – and their heavy exposure to the troubled aviation sector –…
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Hafnia to list on Oslo Børs tomorrow
Hafnia, the product tanker arm of the BW Group, has received approval from Oslo Børs to transfer its listing from…
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New cyber insurance product launches
Insurance giant Willis Towers Watson has unveiled a new type of cyber insurance product for shipowners that re-designs standard cyber…
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North boss details P&I’s response to the coronavirus outbreak
Paul Jennings, CEO of the North of England P&I Club and current chairman of the International Group of P&I Clubs…
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Hafnia to move onto the Oslo Stock Exchange
Hafnia, the product tanker arm of the BW Group, has applied to the Oslo Børs to transfer its listing from…
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Wah Kwong boss hails financial resilience of shipping during the coronavirus crisis
William Fairclough, the managing director of Hong Kong shipowner Wah Kwong Maritime Transport Holdings, has hailed the financial resilience of…
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Boskalis seals $550m refinancing
Dutch dredging, salvage and subsea firm Royal Boskalis Westminster has refinanced its revolving credit facility, giving the company €500m ($549.2m)…
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Teekay LNG Partners secures new charters and $225m refinancing
Teekay LNG Partners has announced new fixed-rate charters for two of its part-owned LNG carriers as well as a $225m…
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Hornbeck Offshore heads for chapter 11
US offshore vessel owner Hornbeck Offshore Services has revealed in an SEC filing that it is headed for a prepackaged…
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Solstad Offshore to offload 37 vessels as part of financial restructuring
Solstad Offshore, the Norwegian offshore vessel owning giant formed by the merger of Solstad Offshore, Deep Sea Supply and Farstad,…
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OSG seals $33m financing for newbuild Jones Act oil and chemical barge
Overseas Shipholding Group (OSG) has closed on a $33.15m loan, led by Wintrust Commercial Finance (WCF), to finance a newbuild…
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Betatron forms partnership with YPSN and Heron Advisory for maritime investments
Hong Kong-based venture capital firm Betatron has announced a partnership with YPSN (Young Professionals In Shipping Network) and Heron Advisory…
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KKR-backed Marshall Wace becomes a major Euronav shareholder
London-based alternative investment manager Marshall Wace has been revealed as a shareholder of Belgian tanker giant Euronav, having being announced…
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Unprecedented uncertainty sparks new ship finance conundrum
I’ve been in this wonderful shipping business for more decades than most and I can state categorically that I’ve never…
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Sumitomo Mitsui Trust Bank joins Poseidon Principles
Sumitomo Mitsui Trust Bank (SMTB), a major Japanese shipping lender and one of Japan’s largest asset managers, has become the…
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Standard Chartered becomes first bank to join TradeLens
Standard Chartered Bank has joined TradeLens, the blockchain enabled platform developed by Maersk and IBM, becoming the first financial institution…
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Aon swoops for Willis Towers Watson to create world’s largest insurance broker
Aon announced yesterday a $30bn deal to buy rival Willis Towers Watson, creating the world’s largest insurance broker, overtaking Marsh…
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Frontline clinches $544m suezmax lease financing with ICBC Leasing
John Fredriksen’s Frontline has signed a sale and leaseback agreement with China’s ICBC Financial Leasing to fund the acquisition of…
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CSSC Shipping inks sale and leaseback deal with Sinokor for boxship quartet
CSSC Shipping, the financial leasing unit of Chinese shipbuilder CSSC, has entered into a sale and leaseback agreement with South…
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PICC disposes of stake in Donghai Marine Insurance
People’s Insurance Company of China (PICC) has proposed to sell all its 40 percent stake in loss-making Donghai Marine Insurance…
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