Finance and Insurance
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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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Bain Capital looking at Giuseppe Bottiglieri’s debts
Giuseppe Bottiglieri Shipping Company seems to be attracting the interest of financial investors in an effort to find an agreement…
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Suicide rate soars at sea
Suicide is now the biggest cause of death at sea, according to an article posted by the UK Chamber of…
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Access to ship finance will become scarcer
Shipowners, already squeezed as the 10th anniversary of the shipping downturn approaches, should brace for less available capital in the…
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Cosco Shipping Energy Transportation signs insurance agreement with Cosco Shipping Insurance
Cosco Shipping Energy Transportation (CSET), the energy shipping unit of China Cosco Shipping Corporation, has entered into an insurance service…
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China Cosco Shipping secures $544m financing for tanker orders
Cosco Shipping Energy Transportation, the energy shipping unit of China Cosco Shipping Group, has signed a loan agreement with China…
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Credit is due to shipping finance
The freight market has been disappointing recently, for dry bulk, tankers and containerships, while asset prices too have been on…
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RBD Armatori’s rescue plan rejected by creditors
Creditors of Naples-based shipowner RBD Armatori have rejected the latest version of the rescue plan prepared by its legal and…
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JP Morgan Asset Management secures $480m for new shipping fund
J.P. Morgan Asset Management has closed its Global Maritime Investment Fund II with $480m in capital commitments from a broad…
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Coco Vroon puts car carrier division and three more product tankers up for sale
As it fights for a firmer financial footing Vroon is looking to sell more product carriers as well as its…
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Rickmers seeks white knights
Embattled Rickmers Holding has appointed Macquarie Capital to try and get investors to come in and save the German shipping…
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DOF Subsea abandons IPO plans
Norwegian offshore vessel owner DOF has abandoned its plans to spin off DOF Subsea, with shareholders deciding it would be…
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Asian Exim banks throwing good money after bad
Throwing good money after bad – that does seem to be the modus operandi of arguably the two most powerful…
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Vroon maintains it is close to sealing deal with lenders
In the wake of disparaging comments carried in the mainstream media Vroon Group has insisted it is on track to…
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Allianz warns of ‘perfect storm’ of narrowing margins and increasing regulation
While safety levels continue to improve in shipping in general, insurer Allianz warns that a “perfect storm” of increasing regulation…
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Ernst Russ and Ecofin launch new ship investment platform
German maritime asset management firm Ernst Russ and investment group Ecofin Holdings are joining to form a new company called…
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