Finance and Insurance
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CDB Leasing takes three HNA bulkers
Bulker sales are picking up in tandem with rising freight rates with the Chinese proving especially aggressive. This week three…
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Piraeus Bank to forge Asian ship finance partnership
Piraeus Bank, Greece’s largest lender by assets, is close to forming a strategic partnership with an unspecified major Asian Pacific…
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Swedish Club kickstarts loss prevention revolution
In claiming the next generation of loss prevention has arrived, the Swedish Club has detailed a new pilot project whereby…
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Castor Maritime raising money for fleet growth
Nasdaq Capital Market-listed Greek dry bulk owner Castor Maritime is looking to raise up to $10m, which it says will…
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Globus Maritime completes fleet refinancing
Greek owner Globus Maritime has completed the refinancing of its fleets of five vessels through a term loan facility with…
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MOL in Japan first, offering sustainability bonds to individual investors
Next month Mitsui OSK Lines (MOL) will become the first company in Japan to issue sustainability bonds aimed at individual…
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Grindrod Shipping seals handysize sale and leaseback
Nasdaq-listed Grindrod Shipping has sealed a sale and leaseback transaction with a Japanese shipowner for 2010-built 33,100 dwt handysize drybulk…
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Former UBS banker sentenced to nine years in Shanghai jail over OOCL takeover leaks
Corruption has been unearthed in Cosco’s 2017 $6.3bn takeover of Hong Kong containerline Orient Overseas Container Line (OOCL). The Wall…
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Carsten Mortensen back with product tanker play
Carsten Mortensen is back, hunting product tanker opportunities with a $100m warchest. The former CEO of both BW and Norden…
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London cargo insurers take extraordinary measures in wake of Hormuz attacks
After an extraordinary meeting of the London Joint Cargo Committee to discuss the present situation in the Gulf where six…
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Crunch time for Bourbon as it weighs up restructuring offers
French offshore vessel owning giant Bourbon Offshore says its board is currently considering two financial restructuring proposals designed to move…
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PGS cancels refinancing
Norwegian offshore survey company PGS has cancelled a refinancing program designed to raise a total of $657m. The company announced…
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Banks with a combined $100bn shipping portfolio stimulate green change
Eleven major shipping banks have joined a global framework called the Poseidon Principles to integrate climate considerations into lending decisions in…
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Mermaid Maritime secures new $65 loan to extend financing of DSV pair
Thailand’s Mermaid Maritime Public Company subsidiary Mermaid Subsea Services has secured a $65m loan facility with the Export-Import Bank of…
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Credit Suisse enjoys banner year leading Greek ship finance
Credit Suisse has retained its top position in Greek ship finance for a fifth straight year, according to Petrofin Bank…
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Lines slap war risk surcharges on Venezuela shipments
Shippers must brace for more expensive calls to crisis-hit Venezuela. MSC, the world’s second largest liner, yesterday told clients it…
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Maersk invests in German trade finance platform
Maersk’s growing ambitions in the realms of trade finance have seen the Danish carrier invest in a German startup. Financing…
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ADS Crude Carriers eyes fleet expansion after securing new financing
Norway’s ADS Crude Carriers has agreed terms for a credit facility, which provides financing of the forthcoming intermediate surveys for…
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Dynagas in talks for $250m refinancing
LNG carrier operator Dynagas LNG Partners is currently in talks with financial institutions for the refinancing of its 6.25% $250m…
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New accounting standards see debt levels among leading liners soar 50%
New accounting standards effective from the start of this year have made for some massive debt increases for the world’s…
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