Finance and Insurance
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Cosco roars back with massive new shipping fund
After years in Beijing’s bad books, the world’s largest shipping conglomerate made its intent clear today to get back on…
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Smaller risks, but bigger problems for shipping
Trond Eilertsen and Chris Grieveson from law firm Wikborg Rein on the ‘very modern nightmare’ that was the fire on…
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KAMCO to take control of 20 Korean ships
South Korea’s debt clearing house Korea Asset Management Corp (KAMCO) will take control of 20 ships worth KRW390bn ($344m) owned…
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Celsius taps ABN AMRO for landmark ballast water financing
ABN AMRO Transportation has concluded the world’s first financing for the installation of a ballast water treatment system on several…
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Maybank comes to Atlantic Navigation’s rescue
Under pressure Singapore OSV operator Atlantic Navigation has won important breathing space from its principle banker. Maybank Singapore has revised…
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European Investment Bank teams with ABN AMRO to support green shipping investments
The European Investment Bank and ABN AMRO have signed an agreement to support investments for greening the European shipping fleet.…
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North P&I urges owners to test crews to avoid accidents
In citing human error as the leading reason for ship accidents a P&I Club has suggested owners carry out continued…
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Diana Shipping raising $70m to fund vessel acquisitions
Greek dry bulk vessel owner Diana Shipping has announced that it has commenced an underwritten public offering for $70m of…
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German banks thaw out
Like spring, the snow is beginning to melt at German banks – the thaw is finally here. In the year…
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MPC Container Ships launches with $100m aimed at the feeder market
Germany has a new niche boxship investor. MPC Capital has initiated an investment company with a focus on small-size container…
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Bourbon seals ‘milestone’ deal with ICBC Financial Leasing
In parallel with the negotiations that have led to the rescheduling of a large part of its debt, embattled French…
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Banks agree to give Globus Maritime a ‘breather’
Globus Maritime has reached agreements with DVB Bank and HSH Nordbank on certain amendments and waivers to the terms of…
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J. Lauritzen fixes financial position
J. Lauritzen has amended a new financing package from its core lenders and its owner, Lauritzen Fonden. The terms for…
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Economou amends DryShips facility to allow for further acquisitions
George Economou’s DryShips has moved itself into position to further its recent acquisition strategy after reaching an agreement with Sifnos…
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IUMI warns on increasing frequency of major vessel casualties
Statistics released by the International Union of Marine Insurance (IUMI) show major vessel casualties are on the rise. The frequency…
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HNA in the running to buy HSH Nordbank
China’s HNA Group and Apollo Global Management are among at least five potential names to have lodged preliminary bids for…
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Autonomous ship regulation ‘a bigger challenge than the technology’
Likely upcoming remote-controlled vessels and Maritime Autonomous Surface Ships (MASS) will force all members of the maritime sector and maritime…
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BW LPG refinances ex-Aurora ships with new $290m facility
BW LPG is refinancing six 2016-built VLGCs with a new $290m debt facility arrangement. The vessels are from the Aurora…
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Shipping Financial Platform Consortium launches in Italy
A new financial boutique named Shipping Financial Platform Consortium and dedicated to shipping firms has launched in Italy, headquartered in…
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Seoul fines DSME accountant for ‘turning a blind eye’ to huge accounting fraud
South Korea’s financial regulator has banned accounting firm Deloitte Anjin from conducting new audits for 12 months as punishment for…
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