Finance and Insurance
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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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Scorpio Bulkers raising cash with new share offering
NYSE-listed Scorpio Bulkers on Tuesday announced it will make a public offering of 20 million shares of its common stock.…
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Baltic beckons back break-away brokers
The Baltic Exchange says it will engage with the newly formed panellist group Competitive Ship Brokers Limited (CSBL), comprised of…
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Vulture firms circle DryShips, Wilbur Ross ‘likely’ to invest more in shipping
An unnamed US institutional investor is poised to acquire a “pretty big” position in DryShips as its debt management becomes…
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Seadrill seals another debt-for-equity deal
John Fredricksen’s Seadrill has privately negotiated another exchange agreement with certain holders of its outstanding 5-5/8% senior notes due 2017.…
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Otto Marine plans to delist from the Singapore Exchange
Otto Marine plans to voluntarily delist from the Singapore Exchange after receiving a takeover offer from a company owned by…
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DryShips raises $5m in equity sale
DryShips has agreed to sell 5,000 of its newly designated series C convertible preferred shares and 148,998 common shares to…
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Former Hanjin chairman faces prosecutors’ insider trading charges
Choi Eun-young, the former head of Hanjin Shipping, appeared before prosecutors in Seoul today, accused of insider trading. Choi, and…
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Shipowners and brokers go knuckle to knuckle
The role of the shipbroker was hotly contested at today’s TradeWinds Shipowners Forum, most vociferously by Euronav’s CEO Paddy Rodgers,…
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Ridgebury looking at ‘older’ tonnage
Ridgebury Tankers is still looking at acquiring secondhand tonnage, CEO Robert Burke told the TradeWinds Shipowners Forum, held at Posidonia…
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Lloyd’s Register: Class societies should not be listed
Athens: Classification societies should not become listed entities and be beholden to the whims of investors, the ceo of Lloyd’s…
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ICBC sets up ship finance centre in Singapore
Chinese bank ICBC has announced that it will set up its Asia-Pacific Shipping Finance Centre in Singapore. The finance centre…
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Cyprus’s second largest bank entering ship finance
RCB, Cyprus’s second largest bank, is looking to get into ship finance, Splash can exclusively reveal. Executives from the 1995-established…
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Otto Marine buy-out is down to the wire
Only a few more hours remain for the unidentified buyer considering acquiring Singapore’s Otto Marine to submit a formal proposal…
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Lithuanian Shipping Company goes into liquidation
Klaipeda County Court decided to declare the company declared Lithuanian Shipping Company bankrupt on May 30 and the company has…
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Safe Bulkers back on an even keel
Safe Bulkers has regained compliance with the minimum share price required to maintain its listing on the New York Stock Exchange…
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