Finance and Insurance
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Pillarstone set to become main shareholder of Premuda
The KKR-controlled turnaround fund Pillarstone Italy is about to become the majority shareholder of the Genoa-based Premuda. Last summer, the…
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Costamare share sale to fund vessel spree
Container shipping company Costamare is setting about offering 11m new shares. Members of the Konstantakopoulos family, who in the aggregate…
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Online P&I Club comparison tool launched
Asian marine insurance firm Latitude Brokers has launched an online P&I Club comparison tool. Called Pilot, the software launches ahead…
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HSH Nordbank meets with potential buyers
Reuters is reporting that Germany’s HSH Nordbank has been in London meeting with potential buyers of the troubled German ship…
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Sovcomflot fixes $180m credit with Sberbank
Sovcomflot and Sberbank signed a memorandum of understanding (MOU) yesterday paving the way for a new $180m long-term credit agreement…
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Top Ships secures $3m financing
Greek owner Top Ships has announced that it has entered into a definitive securities purchase agreement with an institutional investor…
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Concordia Maritime refinances entire MR tanker fleet
Sweden’s Concordia Maritime says it has signed two agreements to refinance its fleet of ten P-Max MR tankers. The two…
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Pillarstone eyes RBD Armatori
Naples-based RBD Armatori may be the second deal selected by Pillarstone in the Italian shipping market. The turnaround fund created…
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Paul Slater returns to Qorval, vows to shake up shipping restructuring
Renowned ship finance expert Paul Slater is returning to restructuring firm Qorval. The company has formed Qorval Marine, which Slater…
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Seadrill secures credit facility extension
Seadrill has reached an agreement with lenders under the West Eminence Facility, along with the requisite majority of lenders under…
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Genco Shipping closes credit facility and completes stock sale
Genco Shipping & Trading has closed a new $400m credit facility and made amendments to some existing facilities while also…
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Navig8 Product Tankers to raise $30m via rights issue
Navig8 Product Tankers has announced that it has launched an offer of 3m units, with a subscription price per unit…
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Hunter Maritime Acquisition prices Nasdaq listing
Hunter Maritime Acquisition has announced the commencement of its initial public offering of 15m units at a price of $10.00…
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Fortescue secures $473m VLOC financing from China Development Bank
Australian miner Fortescue Metals Group has completed a $473m financing agreement with China Development Bank to fund the ongoing construction…
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Deloitte reviewing its position in Korea in wake of DSME fraud
The fraud that has rocked Daewoo Shipbuilding & Marine Engineering (DSME) looks set to shake up the local accounting scene.…
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Bank of Ireland exiting shipping
Banks yanking their shipping portfolios continue apace. Bank of Ireland has become the latest to announce it will exit the…
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Marenave Schiffahrts edges closer to financial oblivion
Marenave Schiffahrts is a step away from financial oblivion with the board revealing two creditors have vetoed the Hamburg-based owner’s…
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Jens Martin Jensen returns to spearhead Pillarstone’s shipping drive
Jens Martin Jensen, formerly John Fredriksen’s right hand man, is back in shipping, heading up private equity vehicle Pillarstone. Jensen…
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Call for creation of a mediation forum for marine hull claims
A call for a mediation forum to help settle some of the basic disparities in marine hull claims practice has…
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Navig8 Chemical Tankers secures $54.3m loan for newbuild pair
Navig8 Chemical Tankers has entered into a $54.3m secured loan facility, to finance the last two of the company’s 25,000dwt …
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