Finance and Insurance
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Ocean Yield seals chemical tanker leaseback deal with Ardmore Shipping
Norway’s Ocean Yield has acquired two 2015-built chemical tankers from Irish owner Ardmore Shipping, and will charter them back on…
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Italian shipping bad loans on sale soar past the $1bn mark
On the Italian shipping market some $1.6bn of non-performing-loans (NPLs) have already been dismissed by several national and international banks…
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Star Bulk pays off restructured loans, seals new $625m facility
Greek dry bulk giant Star Bulk Carriers has repaid all outstanding deferred debt to its lenders originating from a restructuring…
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Blue Ocean Maritime Income nixes London IPO
Shipping’s struggle to garner stock market investor traction has suffered another setback with a maritime investment vehicle putting the skids…
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EuroDry eyes fleet expansion after $30m refinancing
Greek dry bulk owner EuroDry, recently spun out from Euroseas, says it has refinanced the debt on four of its…
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Standard Club looks to take over Strike Club
The Standard P&I Club is looking at acquiring sister company Strike Club, a provider of delay insurance to shipowners. The…
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Bob Burke warns on risks of investors piling into shipping
Delegates attending last week’s by invitation only Maritime CEO Forum were warned by one of the world’s most famous names…
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Star Bulk refinances 26 vessels in loan deal to fund 50 scrubbers
Greek dry bulk owner has entered into a $310m loan agreement which refinances 26 vessels and includes a $70m tranche…
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HMM secures $5.4bn in state funding
Korea Ocean Business Corporation (KOBC), South Korea’s government-backed ship financing entity, has allocated KRW6.15trn ($5.4bn) funding for HMM’s business expansion.…
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Europe hits out at Korean maritime state funding
SEA Europe and European Community Shipowners’ Associations (ECSA), the trade associations representing respectively European shipbuilding and maritime equipment and European…
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Guanggu Financial Leasing enters ship leasing sector
Shanghai Guanggu Financial Leasing has entered into the ship leasing sector after securing its first ever ship deal. The company…
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Scorpio Bulkers pockets $28m from refinancing of ultramaxes
Emanuele Lauro’s Scorpio Bulkers has been given a commitment by Nordea Bank and DVB Bank for a loan facility of…
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Exmar refinances ten LPG vessels with sale and leaseback deal
Nicolas Saverys led Exmar has announced the refinancing of its entire fully-owned fleet of pressurised gas carriers. The refinancing is…
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Minsheng Financial Leasing makes VLCC debut
China’s Minsheng Financial Leasing has had a busy week, linked to more than $100m in multiple deals. Chatter about the…
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Cleaves buys Gersemi Research
Investment bank Cleaves Securities has acquired Gersemi Research and appointed the founder and CEO of Gersemi Research, Joakim Hannisdahl, as…
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Pyxis Tankers refinances product tanker with loan from Blue Ocean Maritime
Greek owner Pyxis Tankers has refinanced the loan facility for 2015-built product tanker with EnTrustPermal’s Blue Ocean Maritime Income. After…
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Scorpio Bulkers seals sale and leaseback of ultramax
Emanuele Lauro’s Scorpio Bulkers has sold 2016-built ultramax bulker for $20.5m, and will lease the vessel back on bareboat charter…
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North P&I: Volatility and uncertainty are the new normal
Volatility and uncertainty are not necessarily what insurance executives want, yet for Paul Jennings, CEO of the North P&I Club,…
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Klaveness Combination Carriers raises $45m for newbuilds
Klaveness Combination Carriers has raised $45m via a private placement, funds which will be used to partly finance two vessels…
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ING takes pioneering green path to ship lending
Dutch bank ING will now gear up its lending to shipping towards greener offerings. ING’s landmark decision is with a…
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