Finance and Insurance
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Waigaoqiao Shipbuilding secures $296m credit facility
CSSC-affiliated Shanghai Waigaoqiao Shipbuilding has signed a loan agreement yesterday with CSSC Finance Company, China Industrial Bank and Shanghai Pudong…
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Maersk moves to offload shares in Danske Bank
A.P. Møller – Mærsk has announced its intention to divest its remaining ownership stake in Nasdaq-listed Danske Bank. The group…
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Navigator Holdings secures $220m refinancing
Navigator Gas and Navigator Holdings have entered into a secured facility agreement with ABN-AMRO, DVB Bank, Skandinaviska Enskilda Banken and…
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Genco Shipping share sale raises $38.6m
Genco Shipping & Trading has entered into an agreement with certain investors for the purchase of Series A convertible preferred…
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Matson to raise $75m via bonds for fleet renewal
US shipping company Matson has entered into a private placement commitment letter under which it expects to issue $75m of…
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Italy’s shipping NPL market worth almost $10bn
While the overall amount of non-performing loans (NPLs) held by Italian banks has an estimated value of $350bn, the shipping…
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Pacific Radiance fixes financial position
Under pressure Singapore OSV owner Pacific Radiance has won some important breathing space from creditors. The firm has announced it…
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Is the Federal Reserve finally waking up?
Does the Federal Reserve finally begin to realize their low interest policy has failed? For example in the minutes from…
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Avance Gas raising $55m via private placement
Norway’s Avance Gas is looking to raise $55m via a private issuing of new shares worth up to $55m to…
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Reader interaction yielding plenty of fascinating insights
Bankruptcy and restructuring stories dominated Splash once again this week with readers lapping up our reports on Hanjin, Flinter, Ezra,…
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Rickmers Maritime investors hit back with further legal action
Rickmers Trust Management, the trustee-manager of Rickmers Maritime, is facing legal action from investors who want to force the ailing…
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Transocean raises $600m for new drillship
Offshore driller Transocean has closed a $600m note offering, where proceeds will be used to partially finance newbuild drillship .…
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Flinter pushed to the edge of bankruptcy by ING
Flinter Group, one of the top ten largest shipowners in the Netherlands, is on the ropes. The multipurpose shipowner has…
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Shipowners warned on risks of carrying lithium-ion batteries
The Standard Club is warning shipowners to be carerful when transporting lithium-ion batteries in the wake of widespread reports of…
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Hanjin insurance pay out could hit $1.8bn: Credit Suisse
Credit Suisse analysts are warning the insurance fallout from the demise of Hanjin Shipping could be one of the largest…
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Marco Polo noteholders approve debt restructuring
Marco Polo Marine’s noteholders have voted to approve a restructuring S50m ($36m) of the Singapore-listed company’s debt, which will give…
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HMM will become South Korea’s ‘flagship’ line
After leaving Hanjin to flounder, the South Korean government is to develop Hyundai Merchant Marine (HMM) as the country’s ‘flagship’ shipping…
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Perisai Petroleum says it is insolvent
Malaysian oil and gas company Perisai Petroleum Teknologi has declared itself insolvent and has been classified as a Practice Note 17…
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Saverys family back in the hunt for distressed assets
The Saverys family is in the hunt for bargains, lining up an IPO of a new company worth up to…
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American Shipping Company seeks refinancing of bonds
American Shipping Company said today it is exploring options to refinance an unsecured bond issue maturing in February 2018. To…
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