Finance and Insurance

Holly BirkettMarch 19, 2015
New budget a boon for UK offshore oil & gas and maritime sectors
London: UK chancellor George Osbourne has unveiled his new budget for the fiscal year 2015, which comprises a number of…
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Hans ThaulowMarch 19, 2015
A. P. Moller-Maersk aims for $4.94bn from bank sale
Copenhagen: Denmark’s A. P. Moller-Maersk (APMM) has published details of its planned sale of its 20% stake in the country’s…
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SplashMarch 19, 2015
Jordan takes steps to stamp out corruption at bulk terminals
Cairo: The Standard Club has warned that here have been “substantial” bulk cargo shortage claims in Jordan during the last…
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SplashMarch 19, 2015
Charles Taylor: Survival of the largest
London: With freight rates continuing to be in dangerously low territory, the knock on effect for the P&I sector is…
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Sam ChambersMarch 18, 2015
HPH Trust in $1bn notes issuance
Singapore: Hutchison Port Holdings Trust has been fund raising. Yesterday, the Singapore listed arm of the global port operator issued…
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Grant RowlesMarch 17, 2015
Aker Philadelphia Shipyard completes product tanker financing for Crowley jv
Oslo: Aker Philadelphia Shipyard has finalised a secured term loan of up to $60m from PIDC Regional Centre, an investment partnership…
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Holly BirkettMarch 16, 2015
Knightsbridge Shipping and Frontline 2012 complete capesize vessel transfer
London: Knightsbridge Shipping has completed its acquisition of 12 capesize bulk carrier newbuildings from fellow Fredriksen-Group company Frontline 2012. Knightsbridge…
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Holly BirkettMarch 16, 2015
Weak dry market causes “tough negotiations” for London P&I Club renewals
London: The difficult trading conditions seen particularly in the dry cargo shipping market in the past year has led many shipowners…
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Hans ThaulowMarch 16, 2015
ING and BNP Paribas drawn into OW Bunker bankruptcy saga
Copenhagen: The scandal following the collapse of OW Bunker four months ago is snaring more and more high profile names.…
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Hans ThaulowMarch 14, 2015
Norwegian oil watchdog comes in for criticism
Oslo: Employees from two of Norway’s most important government watchdogs employed to cover the oil sector have been criticised for…
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Grant RowlesMarch 14, 2015
ESL Shipping lands windfall by offloading Alandia insurance stake
Helsinki: Baltic Sea bulk operator ESL Shipping has sold its 3.5% share of insurance company Försäkringsaktiebolaget Alandia to Bore Ltd,…
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Hans ThaulowMarch 13, 2015
Maersk Line taps HP for key position
Copenhagen: Maersk Line has hired Frenchman Pierre Danet as the containerline’s new CFO. Danet also joins the management board. The…
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Holly BirkettMarch 12, 2015
Capital Product Partners cancels “opportunistic” fundraiser
Athens: NASDAQ-listed Capital Product Partners has cancelled plans to refinance its existing debt through the bond market, saying its pursuit…
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Holly BirkettMarch 12, 2015
Maritime businesses should watch out for fraud, warns ITIC
London: Maritime businesses should be vigilant for fraudulent emails altering the bank details of recipients for payment transactions, the International Transport…
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Sam ChambersMarch 12, 2015
Petronas falls short in fundraising goal
Kuala Lumpur: Asia’s second-largest dollar bond issue was concluded today to muted applause. Malaysian energy giant Petronas’s $5bn deal was…
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Grant RowlesMarch 12, 2015
London Offshore Consultants opens in Sydney
Sydney: Maritime and offshore engineering consultancy London Offshore Consultants (LOC) has expanded its Australian presence by opening an office in…
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Holly BirkettMarch 11, 2015
NewLead Holdings secures $10m debenture for fleet expansion
Athens: NewLead Holdings has closed a $10m senior secured debenture from TCA Fund Management, with an initial draw of $4.25m…
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Shirish NadkarniMarch 11, 2015
Shipping Corp holed below by sinking dry bulk rates
Mumbai: India’s largest shipowner Shipping Corporation of India (SCI), which recently emerged from a three-year period in the red, fears…
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Holly BirkettMarch 10, 2015
Investment fund scoops up more of Scorpio Bulkers
Monaco: Investment manager Wellington Management has raised its share in New York-listed Scorpio Bulkers by almost 3.45m shares, a US…
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Sam ChambersMarch 10, 2015
Denzil Stuart, famous name in marine insurance, dies aged 83
London: Denzil Stuart, one of the best-known names in shipping insurance has died, aged 83. Stuart was both a journalist…
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