KEXIM head visits HSD Engine
Eun Sung-soo, Chairman and President of The Export-Import Bank of Korea (KEXIM), visited his compatriot shipbuilding equipment manufacturer HSD Engine in Changwon, South Gyeongsang Province, Korea, on May 16 to hear difficulties in industry. O...
Busan holds marine finance hub convention
Busan Metropolitan City and the Financial Supervisory Service (FSS) held 'Busan Financial Hub Convention on International Marine Finance' on May 17 at Westin Chosun Busan, Busan City, Korea. The convention, which is in its seventh...
Philippines banks acquire HHIC stocks
The Rizal Commerical Banking Corporation of the Philippines announced on May 17 through a regulatory filing that the bank has acquired 8.53% of shares in Hanjin Heavy Industries and Construction (HHIC). The share amounts to 7,100,129 shares. S...
Maersk Product Tankers completes S&LB deal
Maersk Product Tankers has entered a sale and leaseback agreement for four MR vessels built in 2015 and 2016 with the Industrial and Commercial Bank of China (ICBC). “The agreement will increase financial flexibility and strengthen the finan...
Sovcomflot concludes LNGC financing facility
Sovcomflot (SCF Group) has signed a new USD 297 million limited recourse credit facility, for up to ten years, with three leading international banks: ING Bank; KfW IPEX-Bank, and Crédit Agricole Corporate and Investment Bank. The funds will ...
Teekay announced 100M FPSO refinancing
Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) announced today that it has secured a new $100 million revolving credit facility for the Piranema Spirit, Voyageur Spirit, and Petrojarl Varg FPSO units. The previous c...
India's ABG Shipyard goes to liquidation
India's largest privately-owned shipyard ABG Shipyard will go through the process of liquidation under the recent order of the National Company Law Tribunal (NCLT). According to industrial source and foreign press, Liberty House, which had sug...
Flex LNG signs $550m of financing for LNGCs
Flex LNG LTD (OSE:FLNG) ("Flex LNG" or the "Company") announced that it has entered into a sale-charterback transaction with Hyundai Glovis Co. Ltd. ("Hyundai Glovis") for the vessels Flex Endeavour and Flex Enterprise. Under the agre...
HHIC stocks resume trading
Hanjin Heavy Industries and Construction (HHIC) stocks, whose trading was suspended due to the capital impairment caused by HHIC-Phil, resumes its trading from April 23. The trading of HHIC stocks has been suspended since February 13. Since th...
Navios took S&LB move for three MR2s
Navios Maritime Acquisition Corporation (“Navios Acquisition”) (NYSE:NNA), an owner and operator of tanker vessels, announced that it has completed a $103.2 million sale and leaseback transaction (“Transaction”) for three MR2 product tank...
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