Finance and Insurance
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DOF repurchases bonds, fixes vessels
Oslo-listed DOF has completed the issue of new equity and a bond loan, which represent the first steps of its…
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NewLead bulker sold at auction
NewLead Holdings’ disputed bulk carrier has been sold at action in the US for $7.4m to Singapore’s MT Maritime Management.…
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DSME’s 2015 loss was bigger than it reported, investigation finds
Financial authorities in South Korea have found that the operating loss posted by Daewoo Shipbuilding & Marine Engineering (DSME) in…
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DBS Bank boss warns of offshore ‘contagion’ following Swiber’s demise
The bank with the biggest exposure to the decline and fall of Swiber Holdings has warned of more pain spreading…
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Paragon Offshore gets agreement in principle for revised restructuring plan
Bankrupt Paragon Offshore’s revised restructuring plan has been agreed in principle with its bondholders and banks, which removes the first…
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Swiber files petitions to stop pay-out of $105m in bank guarantees
Swiber Holdings has filed court petitions for injunctions against the payment of over $105m in bank guarantees, which have been…
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Farstad bonds may be sold to Fredriksen, Aker or Siem
Norwegian investment firm Alfred Berg Asset Management may sell its controlling stake in Farstad Shipping’s bonds to other big-name offshore…
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Coscocs inks $18bn financing deal with China Exim Bank
Expect Asia’s top containerline to make plenty of bold moves in the market in the coming 12 months now that…
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Seanergy to make $4.5m from share sale
Greece’s Seanergy Maritime Holdings Corp on Friday revealed it has entered into a securities purchase agreement with one institutional investor,…
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HSH taps finance veteran to handle toxic loans
Ship finance whizz Ulrike Helfer has been appointed to head up hsh portfolio-management AöR, the entity to which HSH Nordbank transferred…
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RBS hit by $347m shipping impairment
Royal Bank of Scotland’s (RBS) shipping exposure is contributing to poor results for the institution that is controlled by UK…
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Seaspan boosts war chest with eye on Greater China International takeover
Seaspan continues to build its war chest with an eye on taking over the Greater China International fleet. Yesterday it…
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Navig8 Product Tankers secures sale and leaseback deal for trio
Navig8 Product Tankers has entered into sale and leaseback agreements with China’s Bank of Communications Finance Leasing for three of…
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Singapore Exchange makes $103m offer for Baltic Exchange
The Singapore Exchange (SGX) is going ahead with the solicitation of support from shareholders in the Baltic Exchange, for which it…
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Top Ships secures financing for product tanker
Greek tanker operator Top Ships has entered into a senior secured facility with a major northern European bank for the…
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Safe Bulkers rearranges finance for kamsarmax newbuilding
Safe Bulkers has novated the shipbuilding contract for a kamsarmax newbuilding to another of its wholly owned subsidiaries in order…
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DBS Bank handed Swiber $146m just weeks before it filed for liquidation
Singapore’s largest bank, DBS, is facing a storm of criticism after it emerged it gave Swiber Holdings two loans worth…
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Fesco appoints chief restructuring officer
Russia’s Fesco Transportation Group has hired Steven Hellman as its chief restructuring officer, who will lead the group’s debt restructuring…
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GasLog Partners aims to raise $54m in public offering
GasLog Partners is to sell 2.75m of its common units in a public offering at a price of $19.50 per…
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DryShips to reverse split its stock after Nasdaq warning, CFO resigns
DryShips has decided to undertake a four-for-one reverse split of its shares after receiving a written notification from the Nasdaq…
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