Finance and Insurance
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Containerships secures financing from CSSC for eight boxships
Finnish company Containerships has signed a framework agreement with CSSC Shipping (Hong Kong) for the financing of up to eight…
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OSG returns to the NYSE Big Board
After a few years in the cold, Overseas Shipholding Group (OSG) is to transfer its stock listing once again to…
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Under fire KDB promises to cut shipping and shipbuilding exposure
South Korea’s policy lender Korea Development Bank (KDB) has today announced a series of reforms on the back of stinging…
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Credit Suisse and China Merchants eye RBS ship finance business
The Royal Bank of Scotland has received bids for its Greek ship finance business, following an increase in bad shipping…
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Subsea 7 sheds another 1,200 jobs
Offshore service vessel operator Subsea 7 is to make a second round of downsizing across its global operations and will…
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Latvian Shipping Company extends tanker loans
Latvian Shipping Company has extended the tenor of its $33.2m loan with Crédit Agricole Corporate and Investment Bank by a…
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Navig8 Chemical Tankers gets $55m loan for newbuildings
Navig8 Chemical Tankers has received a $55m secured loan from Credit Suisse that will help finance two of its chemical tanker…
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ECB looking into shipping loan loss provisions
Reuters is reporting that the European Central Bank (ECB) has contacted banks across the continent to assess the risk of…
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Western Bulk Chartering equity issue gets underway
Kistefos has completed the application process for the private placement of 5m new shares in Western Bulk Chartering (WBC), which will…
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Singaporean hotelier revealed as major MMA shareholder
A Singaporean hotelier has been revealed as a majority shareholder in MMA, the offshore services company formerly known as Mermaid Marine Australia.…
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GasLog fixes financing as it pursues ‘interesting growth opportunities’
LNG shipowner GasLog has launched a debt financing of $1.05bn with a number of international banks to refinance six legacy…
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Britannia and UK P&I Clubs call off merger talks
Britannia and UK P&I Clubs have ended discussions regarding a potential merger. In a statement, the clubs said: “While a…
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Freeseas rubbishes claims of majority buy-out
Freeseas has rubbished claims that Havensight Capital is to launch a tender to acquire an 85% stake in the company,…
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Star Bulk plans reverse stock split
Star Bulk has become the latest listed shipping company to perform a reverse split of its stock to boost the…
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Teekay Offshore Partners plans equity placements worth $200m
Teekay Offshore Partners (TOO) is to issue two private placements of its equity securities, worth a combined $200m, to fund…
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Grieg Star completes 23-vessel refinancing
Bergen-based Grieg Star, part of the Grieg Group, has finished its $400m refinancing of 23 vessels in its 45-bulk carrier…
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Bank waives Paragon Shipping’s debt
Paragon Shipping has entered into an agreement with Unicredit Bank, the last of its credit lenders, which will discharge the…
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Lloyd Fonds gears up with new appointment
German shipping investor Lloyd Fonds has appointed former Commerzbank high flier Klaus Pinter as head of its shipping activities. “Over…
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Scorpio Bulkers prices new equity offering
Scorpio Bulkers has said it will sell its latest offering of 20m shares in its common stock at a price…
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Songa raises new equity, mostly bought by its board
Oslo-listed Songa Offshore has raised NOK 212.7m ($25.5m) by issuing new shares, of which around 60% were purchased by members…
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