Finance and Insurance
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Kistefos aims to raise $20m in Western Bulk Chartering share sale
Kistefos hopes to raise up to $20m in additional equity in Western Bulk Chartering (also known as Kistefos Equity Operations) during…
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Safe Bulkers amends ING Bank loan
Safe Bulkers has changed the terms of its existing $32m revolving credit facility with ING Bank, which has been secured…
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Boa Offshore continues bond buy-back scheme
Oslo-listed Boa Offshore has launched its offer to spend up to NOK 79.6m ($9.53m) in repurchasing more of the remaining BOAO03 PRO…
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Fredriksen pumps $275m into Frontline
John Fredriksen has stumped up $275m of his own cash as a loan for Frontline for its newbuilding program in…
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Wellard’s newest cattle carrier financed by Italian bank
Australian shipping company Wellard has secured a ship loan from the Italian bank Intesa Sanpaolo (through the bank’s Hong Kong…
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Hercules Offshore files for bankruptcy again
Hercules Offshore has scrapped its old Chapter 11 plan and will file a new one as part of a restructuring…
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Eagle Bulk raises cash to charter in new vessels
Eagle Bulk has agreed to issue a private placement of its securities to raise around $6.3m, which it says will…
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IMF questions Seoul’s maritime rescue plan
The International Maritime Fund (IMF) has weighed into and criticised Seoul’s efforts to save its leading shipping lines and shipbuilders.…
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Shipping will become like the airline industry, says DNB Bank
Consolidation, corporatisation and the squeezing out of smaller family-run companies will cause shipping to become more like the airline industry within…
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NewLead CEO admits deleting emails but no judgment yet
Michael Zolotas, CEO of NewLead Holdings, has admitted deleting the “missing” emails pertaining to the ongoing dispute between his company…
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Seaspan readies stock offering
Seaspan Corporation plans to offer 5m of its Class A common shares in an underwritten registered public offering. Seaspan intends…
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Golar LNG Partners fixes financing for FSRU acquisition
Golar LNG Partners LP has announced that it has completed the acquisition of the ownership interests of FSRU Golar Tundra…
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BW Offshore launches $500m financing plan
BW Offshore has drawn up a plan that it expects to improve its liquidity by more than $500m by 2020.…
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Indian prime minister visits Iran to sign Chabahar port agreement
Leaders from India, Iran and Afghanistan are due to meet in Tehran today to sign a trilateral agreement to develop Chabahar port…
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Sevan Marine may sue Logitel and Teekay
Norway’s Sevan Marine says “potential breaches of Norwegian corporate law” have been highlighted during a review of agreements and a…
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Phaethon takes Diana panamax on timecharter
Phaethon International has fixed a panamax bulk carrier owned by Diana Shipping on timecharter for up to eight months at…
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Skuld buys hull & machinery business
Norwegian marine insurer Skuld has signed a letter of intent to acquire SMA/Gerling Norway’s hull and machinery book, which underwrites around 6,000…
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CSCL acquires stake in financial assets of China Minmetals
China Shipping Container Lines (CSCL) has announced that it has entered into a subscription agreement with China Minmetals subsidiary Kingray…
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Capital Maritime increases stake in Capital Product Partners
Capital Maritime & Trading has bought 459,799 common units in Capital Product Partners LP, and has entered into a trading…
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NordLB vows to slash shipping exposure as it logs losses
Shipping is hitting NordLB, the German Landesbank, hard. It has warned on profits after setting aside an extra €435m to…
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