Finance and Insurance
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Pemex sells $4bn in bonds in move to lower its short-term debt
Mexico’s state oil firm Pemex has sold $4bn in long-term bonds in order to buy back some existing debt as…
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STX and STX France may be sold by bankruptcy court
STX Offshore & Shipbuilding (O&S) and STX France, which specialises in building cruise ships and is 66% owned by the…
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Hanjin lays off staff from its US HQ
Some 127 workers have been laid off from Hanjin Shipping’s American headquarters in Paramus, New Jersey, reports say. The redundancies…
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Concordia Maritime sells and leases back tanker
Sweden’s Concordia Maritime has signed a $37.5m sale and leaseback deal for its MR chemical/product tanker with “large Japanese financial…
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Perisai Petroleum continues negotiations after default on bonds
Kuala Lumpur-listed offshore firm Perisai Petroleum Teknologi has failed with a proposal asking its Singapore bondholders to delay the maturity…
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Oslo Børs launches trading of shipping index
Oslo Børs has launched SHIPPING DNM, an exchange traded product that tracks the Oslo Børs Shipping Index (OBSHX), which is…
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Scorpio Bulkers gets newbuilding discount, delays deliveries
Scorpio Bulkers has negotiated a $13m discount on the combined contract price for six China-built newbuildings, which will each be…
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BW LPG revises takeover bid for Aurora
BW LPG has renewed its offer to take over Aurora LPG and has offered over 10% more cash, which has…
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MOL agrees hybrid loan for equivalent of $987m
Mitsui O.S.K. Lines (MOL) announced on Friday it is taking a hybrid loan equal to $987m, primarily to fund its…
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Odfjell Drilling completes refinancing
Odfjell Drilling has announced that the conditions for the refinancing for its rig-owning entitiy Deepsea Invest have been fulfilled. The…
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Danish Ship Finance bought for $710m
A Danish consortium comprising private equity firm Axcel, and pension funds PFA and PKA has taken control of Danish Ship…
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Nordic American Tankers prices offering to raise $110m
Nordic American Tankers has revealed the pricing of its recently announced public offering. The company will raise $110m through selling…
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SGX completes takeover of the Baltic Exchange, new CEO named
Shareholders have voted to approve the terms of the Singapore Exchange’s (SGX) acquisition of the Baltic Exchange, which from 2017…
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Rothschild to help find buyer for majority stake in ABG Shipyard
A consortium of lenders led by State Bank of India has enlisted the help of Rothschild to find a buyer…
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Nigeria plans national shipping company IPO
Nigeria’s efforts to strengthen its domestic fleet have stepped up a gear and the country is now planning an initial…
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Sale of DSME’s headquarters falls through
The sale of Daewoo Shipbuilding & Marine Engineering’s (DSME) headquarters building in downtown Seoul to its preferred bidder has been…
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Hyundai Heavy secures refund guarantee from banks
After a month of discussions, a consortium of banks in South Korea have stepped up to offer Hyundai Heavy Industries…
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MPC Capital sells eight boxships for $398m
MPC Maritime Investments, a subsidiary of MPC Capital, has arranged the sale of a portfolio of eight containerships for a…
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The Hanjin legacy
Paul Slater from First International Corp warns there’s plenty more pain to come. The Hanjin bankruptcy came as no surprise…
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Court approves Prisco liquidation
A bankruptcy court in New York has approved Primorsk International Shipping’s (Prisco) liquidation plan, reports say. Prisco filed a voluntary…
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