Hunter signs binding agreement
Hunter Tankers AS (the “Company”), a wholly owned subsidiary of Hunter Group ASA, announced on February 20 that it has signed a binding agreement for a $220m loan facility from a syndicate of banks consisting of Danske Bank, DNB, No...
Korean MOF supports finance
Ministry of Oceans and Fisheries (MOF) announced on February 6 that it had selected 15 ship operators companies resulting from 2020 eco-friendly improved secondary conservation project in public contest. MOF will provide these companies w...
HHI Holdings to buy back and cancel shares
Hyundai Heavy Industries (HHI) Holdings held a board meeting on February 6 and resolved to buy back and cancel its 488,000 shares worth KRW 129.3bn (about $108m), representing 3% of HHI Holdings' entire share issue. The stock purchase pe...
Korean government supports fleet modernization
South Korea announced on Wednesday that it has revealed financial products worth KRW 820bn to help modernize time-worn liner and cargo ships. The financial products are aimed at supporting smaller shipping companies to construct 59 new...
DEPA signed financing agreement deal with EIB
Public Gas Corporation of Greece SA (DEPA) announced on January 28 that DEPA and the European Investment Bank (EIB) signed an agreement to finance with up to EUR 20 million the construction of a new LNG bunkering vessel for maritime use in Gree...
The World Bank's remarkable leap
The Kingdom of Saudi Arabia announced on January 15 that it has realized a remarkable leap in the World Bank’s Women, Business and the Law 2020 report, with a score of 70.6 out of 100. The report ranks the Kingdom as the top reformer...
HÖEGH LNG receives financing
Höegh LNG Holdings Ltd. (“Höegh LNG” or the “company”) announced on January 14 that company received commitment letters for a revolving credit facility of up to USD 80 million with security in the company’s common units in Höegh LNG ...
TORM secures USD bank financing
TORM recently announced that it has obtained commitment from leading ship lending banks for two separate term facilities and a revolving credit facility of up to a total of USD 496m. These facilities replace four term loans and TORM’s existin...
MARAD provides grant to small shipyards in U.S
The U.S. Department of Transportation’s Maritime Administration (MARAD) announced on January 10th that the availability of $19.6 million in federal funding to support capital improvements and employee training at small U.S. shipyards. T...
Borr Drilling amends bank facility covenants
Borr Drilling announced on January 2 that it has agreed with its financing banks to make certain amendments to its financial covenants. The required minimum book equity ratio has been adjusted from 40% to 33.3% and the minimum free liquidity cove...
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