Finance
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 ...
2020-01-17 09:35:11
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...
2020-01-17 09:25:17
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...
2020-01-15 09:38:16
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...
2020-01-07 09:44:30
MOL secures green loan for LNGBV
Mitsui O.S.K. Lines, Ltd. (MOL) announced on December 23 that it has signed its first green loan, the proceeds of which will be used to partially finance the construction of the world's largest LNG bunkering vessel, which will be owned and operat...
2019-12-26 08:54:20
TOP Ships raises ship financing from China
TOP Ships Inc. (the “Company”) announced on December 23 that it has entered into agreement with a major Chinese Financier in relation to a financing of up to $60.2 million for its recently acquired two newbuilding ultra-high specification scr...
2019-12-26 08:51:18
KSS Line secures loan for VLGC trio
KSS Line turns out to have secured a loan for building three very large gas carriers (VLGCs). With the goal of raising KRW 228.1bn (about $196m) for construction of 84,000 VLGC trio it booked at Hyundai Heavy Industries (HHI) last June and Aug...
2019-12-26 08:46:22
3 companies bid for MAN E&S
It was reported in May that Volkswagen Group was reportedly seeking to sell MAN Energy Solutions (MAN E&S), a former MAN Diesel & Turbo company. Recently, Austrian gas engine and power generation module maker INNIO Corp, Japan's Mitsub...
2019-12-24 08:38:46
SBM divests 35.5% interest in FPSO operation
Following the announcement on December 11, 2019, with respect to the contract signature for FPSO Sepetiba, SBM Offshore announced on December 13 that it has entered into a shareholder agreement with its long standing business partners Mitsubishi ...
2019-12-18 09:04:05
Flex LNG makes profit in 3Q
Flex LNG has recently announced its unaudited financial results for the third quarter and nine months ended September 30, 2019.    Highlights: ＊Reported revenues of $29.8 million for the third quarter 2019, compared to $19.0 mill...
2019-11-25 09:16:20
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