Finance and Insurance
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DONG Energy to list in Copenhagen
DONG Energy, the Danish offshore wind power giant, will list on Nasdaq Copenhagen this summer. The Kingdom of Denmark, as…
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Diana panamax finally secures financing, commences charter
The last of three panamax bulk carriers acquired by Diana Shipping has secured financing and was delivered to its new…
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Genco misses three loan payments
Genco Shipping and Trading is in trouble again. The New York-listed dry bulk firm, which exited bankruptcy two years ago,…
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HMM debt-to-equity swap plan to be discussed
Creditors next week will start discussing a debt-to-equity swap plan with Korean line Hyundai Merchant Marine (HMM), its lead creditor…
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DGS Marine: Fixed premium P&I market evolving fast
London: The fixed premium P&I market will secure a double-digit share of the P&I market in the near future, argues…
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Business model questioned
Rarely if ever have Italian shipowners had so much introspection about their future. They describe their plight to Splash. In…
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Petrobras wants to bring forward $1bn loan from Exim Bank of China
Petrobras is moving to seal a $1bn loan from a Chinese bank sooner than first planned, according to Bloomberg. The…
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Stealthgas gets $140m financing for newbuildings
NASDAQ-listed Stealthgas has received commitments from unnamed lenders for two senior secured credit facilities worth a combined $140m, which will be…
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Shipowners brace for Panama Papers backlash
More details from the so called Panama Papers are expected to be revealed today. The leaks from Panamanian law firm…
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Scorpio Tankers seals $44m loan for refinancing of MR pair
NYSE-listed Scorpio Tankers announced on Friday it has received commitment for a loan facility of up to $44m from NIBC…
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Harkand goes into administration
Harkand has gone into administration, according to a recorded answering machine message at the company’s Aberdeen office. Its website has…
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Bahri secures financing for VLCC spree
The National Shipping Company of Saudi Arabia (Bahri) has signed a RYL700m ($186.7m) loan to help pay for 80% of…
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Ningbo Marine raises $15.4m with sale and leaseback deal
Ningbo Marine has announced that it has reached a sale and leaseback agreement with Zhejiang Energy Financial Leasing Company to…
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d’Amico commences share buy-back scheme
Italy’s d’Amico International Shipping (DIS) is to begin buying back its shares over the next five years in order to increase…
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Alternative capital paths
There’s not as much cash circling to all Italian owners as in the past. Even with the ship finance market…
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Sona Petroleum’s Stag oilfield acquisition hangs in the balance
Sona Petroleum’s dreams of becoming an independent oil and gas exploration and production (E&P) company have been put on hold after shareholders…
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Samsung Heavy ordered to produce restructuring plan
Creditors of South Korea’s Samsung Heavy Industries have ordered the shipyard to produce a self-restructuring plan, reports say. The state-run Korea Development Bank,…
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Hanjin Heavy gets another $105m from creditors
Hanjin Heavy Industries is to receive a further KRW 120bn ($105m) cash injection from its creditors, led by Korea Development Bank…
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Two of Lithuanian Shipping Co’s bulkers sold at auction
Bankrupt Lithuanian Shipping Company (LSC) has sold two more bulk carriers at auction, which has raised $1.0m more than the vessels’…
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Viking Supply Ships delays publishing financial results
Sweden’s troubled Viking Supply Ships, which claims it has reached an in principle agreement with its banks, has decided to…
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