Finance and Insurance
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Navios Acquisition lends $70m to Navios Maritime
Navios Maritime Acquisition has provided a $70m secured loan to its sister company Navios Maritime Holdings, which will be used…
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Buy cheap tonnage now, pay back debts later: Marine Money Singapore
Now is the time to buy cheap ships, and then pay off debts when the good times return, a panel…
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IUMI details uncertain, challenging environment for marine insurance
The International Union of Marine Insurance (IUMI), unveiling its annual statistical report on the marine insurance market at a conference…
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Olympic Ship extends standstill agreement
Olympic Ship has extended its standstill agreement with its secured lenders by a further two weeks. The Oslo-listed operator of…
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Hansa Treuhand seeks court protection for 15 boxships
The Hamburg shipping community has reacted with shock and sadness that one of the city’s erstwhile maritime champions Hermann Ebel…
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Navig8 Chemical Tankers banks $74m from sale and leaseback deal
Navig8 Chemical Tankers has announced a sale and leaseback deal with Japan’s SBI Holdings for two 25,000 dwt stainless steel…
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Are we entering peak bankruptcy season?
Are we entering peak bankruptcy time now for shipping? I’d argue that the coming six to 12 months will see…
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German banks carrying a quarter of all shipping loans: Dagfinn Lunde
Splash’s finance columnist Dagfinn Lunde has told Reuters that German banks account for nearly one quarter of the world’s $400bn…
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Star Bulk aims to raise $51.5m in share offering
Star Bulk has priced its latest share offering, in which it aims to raise up to $51.5m for “general corporate…
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Christian Berg steps down as CEO of Viking Supply Ships
Christian W Berg is to step down as CEO of Viking Supply Ships (VSS) but will remain at the company…
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SBI Offshore steps up investigation into ex-CEOs’ possible wrongdoing
Singapore’s SBI Offshore has filed a report with the Commercial Affairs Department of the Singapore Police Force in relation to…
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Matson sells $200m of its debt in private placement
Matson has issued $200m in five-year final maturity senior unsecured notes to The Prudential Insurance Company of America and other…
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Viking Supply saved after bondholders vote to restructure bonds
Completion of Viking Supply Ships’ restructuring is on the horizon after bondholders voted to amend their bond agreement and convert…
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Rickmers Maritime fears liquidation
Rickmers Maritime has spooked Singapore investors admitting it is close to liquidation unless creditors come to its rescue. The listed…
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DryShips swaps debt for shares, offloads panamax bulker
George Economou’s DryShips has eached an agreement with Sifnos Shareholders, a company controlled by Economou, to convert $8.75m outstanding under…
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Diana Containerships won’t buy new vessels or pay dividends for two years
Diana Containerships has amended its $148m loan agreement with The Royal Bank of Scotland (RBS), which will block the boxship…
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20% of KG-funded boxships are insolvent
Nearly one in five containerships owned by KG funds in Germany are insolvent according to data released by research firm…
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Marco Polo Marine requests an extension to its notes’ maturity date
After calling in KPMG last week to conduct a review of its business, Singapore’s Marco Polo Marine has said it…
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Marsh forecasts lower charter rates in the wake of Hanjin’s demise
Cargo owners and shipowners are most at risk of suffering financial losses from Hanjin Shipping’s entering into court receivership, according…
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Ocean Yield completes $91m bond issue
Oslo-listed Ocean Yield has completed a new NOK 750m ($91m) unsecured bond issue, which will be used to refinance existing…
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