Finance and Insurance
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More Italian shipowner restructuring to follow Bottiglieri
More shipowners in Italy, particularly those involved in dry bulk, will follow Giuseppe Bottiglieri seeking court protection from creditors in…
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HMM set for $515m boost from new government fund
South Korea’s Hyundai Merchant Marine (HMM) is set to be the first beneficiary of funds from the country’s new Korea…
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Oaktree and Senator bolster Star Bulk holdings
Leading private equity names are investing more in Nasdaq-listed Greek owner Star Bulk Carriers. Oaktree Capital Management and Senator Investor…
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Japan’s Orix outlines plans to become major ship finance player
Japan’s Orix Corporation has confirmed it has acquired $289m worth of shipping loans from the Royal Bank of Scotland (RBS),…
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Pittas adds financial ‘firepower’ to grow Euroseas fleet
Nasdaq-listed Greek owner has announced a drawdown notice under a $10.86m loan to finance the recent acquisition of , a…
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HSH Nordbank sale launched
HSH Beteiligungs Management has launched the sale process for HSH Nordbank, inviting bidders for the German bank. HSH Beteiligungs Management,…
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DryShips shares in free fall after reverse stock split announced
George Economou’s DryShips announced an 8 for 1 reverse stock split yesterday which sent the share price tumbling over 36% to just…
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Japan’s Orix reportedly in for slice of RBS loans
Japanese financial institution company Orix Corp has agreed to buy $290m worth of shipping loans from Royal Bank of Scotland,…
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Scorpio Tankers seals new $172m credit facility
Monaco-headquartered Scorpio Tankers has received commitments for a loan facility of up to $172 million to finance up to 60%…
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New insurance rules in place designed to ease crew abandonment cases
Today sees important new rules come into force on crew abandonment. Under the Maritime Labour Convention 2006 (MLC) shipowners must…
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Wilbur Ross refuses to cash out of shipping ahead of Trump appointment
The likely next commerce secretary under Donald Trump in the US will not let go of his shipping interests. Wilbur…
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DryShips shares sink on concerns over new gas deals
Shares in George Economou’s DryShips continue to set new 52-week lows as investors desert the company in big numbers on the…
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Ezra flags going concern issues as it further delays financials
Singapore offshore services company Ezra Holdings has today sought permission from the Singapore Exchange and ACRA to further delay its…
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China Cosco Shipping reaches $26bn financing deal with China Development Bank
China Cosco Shipping Group (Coscocs) has signed a strategic agreement with policy bank China Development Bank (CDB) in Beijing yesterday for…
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Dry bulk stocks best performers in 2017
Dry bulk equities have recorded the largest gains of all the shipping segments over the past month, indicating, what Alphabulk…
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Excelerate Energy seals 10-year sale and leaseback for FSRU
Excelerate Energy has completed a long-term sale and leaseback with CMB Financial Leasing for the FSRU . The agreement is…
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Gener8 Maritime commits ‘financial suicide’ with latest sale
While key backers are walking away from Gener8 Maritime, Peter Georgiopoulos has pushed ahead with what has been described as…
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Euronav seals $410m refinancing deal
Euronav has signed a new $410 million senior secured amortizing revolving credit facility in order to refinance 11 VLCCs as…
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Euronav seals sale and leaseback agreement for four VLCCs
Euronav has entered into a five-year sale and leaseback agreement for four VLCC vessels with investment vehicles advised by Wafra…
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Wellard in breach of its debt covenants again
Wellard, the Australian livestock shipper, has admitted it is once again in breach of its debt covenants. Wellard said in…
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