Finance and Insurance
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Genco extends equity financing deadline
Genco Shipping & Trading has given itself an extra two weeks to enter into a definitive agreement with its lenders…
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Ocean Yield completes private placement
Oslo-listed Ocean Yield has completed the private placement of up to 13,462,857 new shares, which is equivalent to around 9.99%…
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Swiber and Vallianz squabble over outstanding payments
Swiber Holdings’ (SHL) interim judicial managers have notified Vallianz that it owes some $63.5m in outstanding payments to the bankrupt…
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DSME accused of bribing news editor
A goverment politician in South Korea has accused shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) of plying a newspaper editor with a…
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IM Skaugen fined by Norway’s financial supervisory authority
IM Skaugen has been fined NOK 164,600 ($19,800) by Norway’s financial supervisory authority Finanstilsynet for “willfully or negligently” publishing its annual…
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Rand Logistics gains breathing room with agreement from creditors
Bulk shipping company Rand Logistics, which runs services in the Great Lakes, has reached agreement with lenders to amend its…
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Seaspan relents in charter negotiations with Hanjin Shipping
Hanjin Shipping has announced major progress in negotiations with tonnage providers and lenders, suggesting it will survive the September 4…
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Diana Shipping in negotiations with lenders
Diana Shipping is in trouble and has engaged financial advisors and has entered into negotiations with certain of its lenders…
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Latest Splash Chat live Q&A casts a long, dark shadow over offshore
Offshore analysts, brokers, bankers, consultants and owners convened yesterday for the second ever live Q&A on Splash Chat, our new…
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Xiamen Shipbuilding inks financing deal with China Development Bank
Xiamen Shipbuilding Industry (XSI) has announced that it has signed a financing agreement with China Development Bank (CDB). Under the…
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Avance Gas fixes VLGC on timecharter
Avance Gas has fixed its VLGC (83,000 cbm, built 2015) on a four-month timecharter to an unreported charterer, according to…
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REM Offshore posts $113m in vessel impairments
REM Offshore has posted NOK 929m ($113m) in write-downs of the value of its vessels and other assets during the…
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Nord L/B’s shipping impairments ‘higher than planned’
Nord L/B has increased its provisions for bad loans to €1bn ($1.1bn), almost five times higher than expected as the…
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Seaspan raises $80m in public offering
Seaspan has raised gross proceeds of $80m in a public offering, which it said may be used to buy a…
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Nordea and DNB join forces in the Baltics
Nordea and DNB have entered into an agreement to combine their operations in Estonia, Latvia and Lithuania. “Combining knowledge of…
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Odfjell Drilling refinances semi-submersible pair
Releasing its quarterly results today, Norwegian offshore driller Odfjell Drilling has revealed a refinancing deal has been offered to its…
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ITF blasts ‘secretive’ corporate structures used by North Sea oil producers
The International Transport Workers Federation (ITF) has released a new report that pours scorn on “secretive” corporate structures used by…
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UASC posts biggest operating loss of any major container line
United Arab Shipping Company (UASC) has posted its financial figures publically for the first time, revealing a -9% operating loss…
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21 jobs lost as CIE Well Control enters administration
Aberdeen-based subsea operations firm CIE Well Control has entered administration due to persistently low oil prices and a lack of…
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Vogemann launches OPEX guarantee scheme
Germany’s H. Vogemann shipping group has launched an operating expenditure (OPEX) guarantee scheme for owners of dry bulk and multipurpose…
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