Finance and Insurance
-
Pacific Basin secures $115m credit facility
Hong Kong bulker owner Pacific Basin has completed a new $115m seven-year reducing revolving credit facility secured over ten of…
Read More » -
Lloyd’s warns of ‘significant claims’ from Fujairah attacks
Citing the scant information available at present, the Joint War Committee (JWC), which comprises underwriting representatives from both the Lloyd’s…
Read More » -
Maersk Product Tankers seals sale and leaseback of four MRs
Maersk Product Tankers has entered into a sale and leaseback agreement with China’s ICBC for four MR tankers. The first…
Read More » -
Joint War Committee to hold urgent talks on the back of Fujairah attacks
Shipowners should brace for higher insurance premiums for ships transiting the Middle East. The Joint War Committee (JWC), which comprises…
Read More » -
Temasek subsidiary revealed as PIL backer
It has emerged that funds linked to Singapore’s sovereign wealth fund Temasek Holdings have come to the rescue of the…
Read More » -
Macquarie shuffles North American port investments to focus on Long Beach
Macquarie has had a massive clear out of its North American port assets to focus on taking over OOCL’s Long…
Read More » -
Mjølner and MID-SHIP launch new product tanker fund
Commercial manager Mjølner Shipping Holdings and transport investment banking firm MID-SHIP Capital have launched their second fund, the Mjølner Product…
Read More » -
Sovcomflot seals $297m financing for newbuild LNG carriers
Russian shipping group Sovcomflot has secured a new 10-year $297m credit facility from international banks ING Bank, KfW IPEX-Bank, and…
Read More » -
Flex LNG listing in New York moves a step closer
John Fredriksen’s Flex LNG has moved a step closer to listing on the New York Stock Exchange, having publicly filed…
Read More » -
Grindrod seals financing for ultramax pair, sells handy bulker and product tanker
Nasdaq-listed Grindrod Shipping has sealed financing for two newbuild ultramaxes and also announced the sale of two of its vessels.…
Read More » -
BW backs Epic’s latest capital raising for four more Japanese ships
Epic Gas has launched today a $60m fully underwritten capital increase with plans to buy more LPG ships. The subscription…
Read More » -
Flex LNG seals sale and charterback with Hyundai Glovis for LNG carrier pair
John Fredirksen’s Flex LNG has sold 2018-built LNG carrier pair Flex Endeavour and Flex Enterprise to Hyundai Glovis for $420m.…
Read More » -
Navios Acquisition seals sale and leaseback for five product tankers
Navios Maritime Acquisition Corporation has completed a $103.2m sale and leaseback transaction for three MR2 product tankers and two LR1…
Read More » -
Scorpio refinances six ultramaxes with AVIC sale and leaseback deal
Monaco-headquartered Scorpio Bulkers has agreed to the sale and leaseback of six ultramax vessels to China’s AVIC International Leasing. SBI…
Read More » -
Flex LNG tunes in to the Spotify route to Wall Street
John Fredriksen’s Flex LNG has tuned in to the Spotify route to Wall Street, pushing ahead with a direct listing…
Read More » -
Nord/LB quits ship finance
Another famous name in German ship finance is exiting the sector. Nord/LB Norddeutsche Landesbank has made clear the “painful” bad…
Read More » -
Microsoft buys into maritime artificial intelligence
Microsoft is moving into the world of maritime artificial intelligence, backing an American platform, Nautilus, that is among the leaders…
Read More » -
Teekay Offshore secures funding for suezmax quartet
Teekay Offshore Partners has sealed a new $414m debt facility to finance its four LNG-fueled suezmax shuttle tanker newbuildings, currently…
Read More » -
UAE Shipping Association wants more bank support for local owners
The UAE Shipping Association is calling for banks to offer more financial support to local shipowners. Tahir Lakhani, first vice…
Read More » -
Fairfax India spends $72m buying 41% stake in Seven Islands Shipping
Investment company Fairfax India has spent INR5bn ($72.1m) buying a 41.4% stake in India’s second largest tanker company, Seven Islands…
Read More »