Finance and Insurance
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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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Safe Bulkers amends $30.3m loan from Nordea
Safe Bulkers has extended the maturity of its $30.3m loan from Nordea Bank by a further two years as part…
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Navios Maritime Acquisition to sell two chemical tankers at a profit
Navios Maritime Acquisition Corp is selling two of its IMO II chemical tankers for $74.6m combined, which will generate a book…
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AON Benfield to enter Italian shipping market with Ital Brokers acquisition
Insurance giant Aon Benfield appears on the verge of taking over Genoa-based Ital Brokers. Local newspaper IlSecoloXIX reported that a…
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Morale, cost-cutting and benefits
Andrew Merrilees from Lockton Companies Singapore on how to make the best of a bad situation. The uncertainty and blood-letting…
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Torm puts wheels in motion towards US IPO
Torm has completed its corporate reorganisation and expects to list A shares in Torm Plc, its newly created UK-based entity,…
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Navios scraps controversial loan agreement
Navios Maritime Holdings and Navios Maritime Acquisition Corporation have terminated a controversial loan agreement signed by the two companies in…
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Eagle Bulk’s share price plunges 25% on ‘pump and dump’ claims
Supramax player Eagle Bulk Shipping, which trades in New York under the stock name EGLE, saw its share price nosedive…
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Hellenic Carriers’ exit from AIM market approved by shareholders
Shareholders have approved Hellenic Carriers’ plan to delist its stock from the AIM market of the London Stock Exchange, which…
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HMM sells Hyundai Securities stake for $1.1bn
Hyundai Merchant Marine (HMM) has today signed a stock purchase agreement (SPA) to sell its stake in its financial affiliate…
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Petrobras cancels charter of another DryShips OSV
Petrobras has cancelled its four-year charter of DryShips’ oil spill recovery vessel (OSRV) Vega Inruda, which is the second contract termination…
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Finaval CEO among those listed in the Panama Papers
In the long list of Italian entrepreneurs who have had dealings with the law firm Mossack Fonseca, based in Panama,…
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Ocean Yield secures financing for Hartmann ethylene carriers
Ocean Yield has received a commitment letter from a group of banks for a $202.5m credit facility to finance three…
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Viking Supply bondholders approve standstill agreement
Viking Supply Ships’ investors have approved a standstill agreement, which will stay the Oslo-listed company’s financial obligations to bondholders until…
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The Panama Papers: part three
“Ginny!” said Mr Weasley, flabbergasted. “Haven’t I taught you anything? What have I always told you? Never trust anything that…
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Navig8 Chemical Tankers seals $140m Chinese sale and leaseback deal
Navig8 Chemical Tankers has announced that it has entered into sale and leaseback agreements with China’s Bank of Communications Financial…
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NordLB to cut shipping exposure by up to €14bn
Germany’s NordLB plans reduce to its current €19bn shipping loan portfolio to between €5bn to €7bn within the next five years…
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HMM claims it will fix its financial position by July
With the successful bid for the sale of Hyundai Securities, Hyundai Merchant Marine (HMM) says it will accelerate other programs…
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