Finance
McDermott secures $1.7bn new financing
McDermott International, Inc. (NYSE: MDR) (collectively with its subsidiaries, the "Company") announced that it has entered into an agreement (the "Agreement") with certain of its secured lenders (the "Lenders") under which the Company will have ...
2019-10-22 10:22:41
Ship financing at the bottom level since 2008
The volume of global ship finance is at the lowest level since 2008 when the financial crisis devoured the world.   Petrofin Bank Research of Greece reported that the ship financing from the global top 40 banks is now at $300.7bn, which is...
2019-10-21 14:28:29
SBM Offshore completes 1.14bn financing
SBM Offshore is pleased to announce that it completed the project financing of FPSO Liza Unity for a total of US$1.14 billion. The project financing was secured by a consortium of nine international banks. The Company expects to draw the loan ...
2019-10-18 08:49:38
Teekay opens dialogue about Green Bond issue
Teekay Shuttle Tankers L.L.C. has mandated Danske Bank, DNB Markets, Nordea and Skandinaviska Enskilda Banken AB (publ) to arrange a series of fixed income investor meetings in Bergen, Helsinki, Stockholm and Oslo commencing on Wednesday October ...
2019-10-08 08:49:15
KOBC-KB to give shipping finance supports
The Korea Ocean Business Corporation (KOBC) and KB Kookmin Bank entered into an agreement in Busan Metropolitan City, Korea, on September 26 for mutual cooperation in investment and finance sectors, with the goal of securing competitiveness in sh...
2019-10-07 08:30:12
K-SURE to provide export finance to Formosa 2
Korea Trade Insurance Corporation (K-SURE) announced that it is providing $270m (around KRW324bn) of export finance to Formosa 2 offshore wind farm project, in which Korean companies are participating. The project is K-SURE’s first commitment t...
2019-10-02 16:39:39
Global banks encourage decarbonization move
Global giant banks have agreed to consider how much efforts they made for decarbonization in order to grant shipping companies loans.  Under this initiative called 'Poseidon Principles', banks will evaluate how well a shipping company ful...
2019-10-02 08:22:31
3. Maj escapes from bankruptcy
Croatia’s 3. Maj shipyard managed to stop collapse on the blink of bankruptcy. Foreign media reported that Rijeka Commercial Court suspended the bankruptcy proceedings of the yard as the last foreclosure was stopped on September 25. With ...
2019-09-26 14:31:59
Croatia provides guarantee to 3. Maj
The Croatian government is to provide EUR26m of financial guarantee to its distressed shipyard 3. Maj in order for the yard to complete its unfinished vessel under construction. The ship had been ordered by Canada’s Algoma, and the financin...
2019-09-23 15:34:01
Sovcomflot secures refinancing money
Joint venture companies belonging to Sovcomflot (SCF Group) and NYK Line have signed a new USD 176 million non-recourse credit facility for eight years with three leading international banks: Sumitomo Mitsui Banking Corporation of Japan (through ...
2019-09-17 08:46:46
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