Finance and Insurance
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Seoul creates $4.4bn company to aid maritime turnaround
In the ongoing resuscitation of the nation’s ailing shipping and shipbuilding sectors, South Korea’s Ministry of Oceans and Fisheries is…
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Containerlines sign up for the New York Shipping Exchange
The New York Shipping Exchange (NYSHEX) has completed its series A round of funding with big name containerlines signing up.…
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BlackRock in discussions to invest in Hyundai Merchant Marine
BlackRock, the world’s largest asset manager, is in discussions to make a sizeable investment into South Korea’s Hyundai Merchant Marine…
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Songa Bulk gears up for more acquisitions with $45m fundraiser
Arne Blystad’s Songa Bulk has raised $45m via a tap issue as part of its bond programme, money that it…
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Issuing shares helps loosen the shipping finance conundrum
While most of the debate in shipping is focused on any recovery of the freight markets, the small world of…
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D’Amico closes third sale and leaseback deal
Luxembourg-based d’Amico International Shipping has closed a third MR tanker sale and leaseback deal, announced in the company’s latest set of result. The…
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Capital Product Partners seals $460m refinancing
Greece’s Capital Product Partners has entered into a firm offer letter for a senior secured term loan facility of up…
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Ultrabulk secures newbuild financing from JBIC
Danish owner Ultrabulk is expected to secure newbuild financing from The Japan Bank for International Cooperation (JBIC) for two bulker…
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Höegh LNG secures financing for FSRU
Höegh LNG has received commitment letters for a $230m debt financing for one of its FSRU newbuildings. The facility comprises…
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Uni-Asia signs up to Korean financing vehicle
KTB Asset Management, Korea Development Bank (KDB), and Japan’s Uni-Asia have signed a memorandum of understanding where the three will…
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Cooperate not liquidate, RBD Armatori pleads with Pillarstone
Naples-based RBD Armatori has sent a message to Pillarstone after the KKR-backed turnaround fund defined as a “technical step” the…
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Gulf Navigation raising $250m for further fleet expansion
Dubai’s Gulf Navigation Holding is looking to raise $250m through sale of sharia-compliant bonds this year, its group chief executive…
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Pillarstone puts RBD Armatori under bankruptcy protection
A few days after purchasing non-performing loans from Intesa Sanpaolo and MPS totaling $638m, Pillarstone has filed for bankruptcy protection…
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Bank ship finance at 2007 levels, down by $42.5bn in 2016 alone
Despite the world’s merchant fleet growing dramatically in the past decade bank ship finance remains at 2007 levels, according to…
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Marenave completes financial restructuring
German owner Marenave has successfully completed a financial restructuring. At the end March, Marenave signed agreements with the majority of…
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Pillarstone moves to take control of RBD Armatori
Pillarstone Italy is poised to become main shareholder of the Naples-based shipping firm RBD Armatori. The KKR-controlled turnaround fund has…
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Eagle Bulk secures $61.2m loan facility for fleet growth
Dry bulk operator Eagle Bulk Shipping has announced that one of its wholly-owned subsidiaries, Eagle Bulk Ultraco, has secured a…
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Chinese leasors now control fleet in excess of 1,000 ships
Chinese leasors are now thought to control a fleet in excess of 1,000 ships, making them one of the most…
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KKR walks away from NordLB’s shipping loans
German lender NordLB has ditched plans to sell a EUR1.3bn ($1.5bn) portfolio of shipping loans to KKR, after around a…
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McDermott seals $810m amended credit agreement
Houston-based oil industry construction and installation service firm McDermott revealed that it has entered into a five-year amended and restated…
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