Finance and Insurance
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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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Ultrapetrol negotiating with lenders for extra breathing space
Ultrapetrol is pushing to extend its forebearance period with its lenders again to hold off any enforcement action related to…
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Peermohamed steps down as Norwegian Hull Club CEO
Faz Peermohamed will step down as CEO of the Norwegian Hull Club (NHC) on April 30 after just four months in the…
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EC approves CMA CGM’s takeover of NOL
The European Commission (EC) has today cleared CMA CGM’s acquisition of Neptune Orient Lines (NOL), following a Phase 1 review.…
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Seadrill refinances and recapitalises with loan adjustments
Seadrill has adjusted several of its loan agreements with lenders in order to refinance its business and insulate itself from…
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Paragon comes out fighting, sues TradeWinds for defamation
Paragon Shipping has delayed delivery of three bulk carrier newbuildings and is still suffering from poor liquidity – but one…
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Credit Suisse topples RBS in Greece
Credit Suisse has elbowed Royal Bank of Scotland out the way into top place for Greek ship finance, according to…
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Korean shipping lenders need a cash injection or could face collapse
South Korea’s ministry of finance is considering ways of increasing the capital of state-run lenders Korea Development Bank (KDB) and the Export-Import…
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Harkand dive support vessels receive bareboat charter terminations
Oslo-listed Harkand Finance and its bond trustee Nordic Trustee have agreed to terminate the bareboat charters of two of Harkand’s…
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Navig8 Product Tankers secures $130.3m financing for quartet
Navig8 Product Tankers has announced that it has entered into a $130.3m senior secured credit facility agreement with Citibank and…
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Club and Superclub
The merger of the UK P&I Club and the Britannia P&I Club is perhaps a sign of the times. Mergers…
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KKR-led vehicle takes over Premuda loans
Private equity has increased its presence in the Italian shipping industry. Pillarstone Italy, a turnaround fund created jointly by KKR,…
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Diana Shipping in breach of BNP Paribas loan
Diana Shipping has received notification from lender BNP Paribas that it is in breach of its $165m loan agreement signed on…
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BW LPG fixes financing four newbuilds
BW LPG has signed a $221m debt facility agreement for the financing of four of its VLGC newbuildings. The financing…
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