krogragg

Category: Cyprus

  • Pelagic Credit raises $58m ahead of Oslo debut

    Pelagic Credit raises $58m ahead of Oslo debut Pelagic Credit has raised NOK558m ($58m) in a private placement, clearing the way for its planned listing in Oslo. The Cyprus-based shipping investor said it attracted orders from “high quality” industrial and institutional investors. The company’s sponsor, Pelagic Partners, is contributing $48.1m through its managed funds, consisting…

  • Fredriksen goes back to Hengli for two more VLCCs

    Fredriksen goes back to Hengli for two more VLCCs John Fredriksen has returned once again to China’s Hengli Shipbuilding, adding more VLCC tonnage as the shipping tycoon keeps pressing ahead with fleet renewal. Fredriksen’s private investment arm, Seatankers Management, has contracted two 306,000 dwt crude carriers at the Dalian-based yard. Chinese-listed ST Songfa confirmed that…

  • Castor Maritime enters sale and leaseback deal for kamsarmax

    Castor Maritime enters sale and leaseback deal for kamsarmax Cyprus-based owner Castor Maritime has signed a sale and leaseback agreement for a bulk carrier vessel. The company signed the agreement for the 2013-built kamsarmax Magic Perseus bulker with a Japanese counterparty. The transaction is set to be completed in January 2026. The bareboat financing amounts…

  • Gas field charting its development course as Aphrodite embarks on FEED journey

    Gas field charting its development course as Aphrodite embarks on FEED journey Chevron Cyprus, a subsidiary of the U.S.-headquartered oil major Chevron, and its partners, BG Cyprus (Shell) and NewMed Energy, have decided to move forward with a front-end engineering design (FEED) work for an offshore gas field reservoir in Block 12, located in the Eastern…

  • Petros Panagiotidis firms up second LPG swap between Toro and Robin

    Petros Panagiotidis firms up second LPG swap between Toro and Robin Toro Corp has struck another related-party deal, selling one of its LPG carriers to an affiliate of chairman Petros Panagiotidis for $20m. The Nasdaq-listed owner is offloading the 2020-built, 4,700 cu m Dream Terrax to a subsidiary of Robin Energy, another Panagiotidis-controlled Nasdaq-listed vehicle.…

  • Schoeller in for boxship newbuild brace

    Schoeller in for boxship newbuild brace Schoeller Holdings has returned to China’s Huangpu Wenchong Shipbuilding with an order for a pair of 1,900 teu containerships. The Cyprus-based owner is paying between $31m and $32m per vessel, with deliveries scheduled for 2028. The deal continues a long-standing relationship between Schoeller and the Guangzhou-based yard, which has…

  • Castor seals $14.6m leaseback for kamsarmax bulker

    Castor seals $14.6m leaseback for kamsarmax bulker Cyprus-based bulker and boxship owner Castor Maritime has completed a sale and leaseback transaction with a Japanese counterparty for one of its kamsarmaxes. The Nasdaq-listed company has struck a deal for the 2011-built Magic Thunder, with the 83,400 dwt vessel bringing in about $14.6m. The vesssel will remain…

  • Toro ships out LPG carrier to tanker spin-off Robin Energy

    Toro ships out LPG carrier to tanker spin-off Robin Energy Nasdaq-listed owner Toro Corp is selling one of its LPG carriers in an $18m deal involving affiliated parties. The Petros Panagiotidis-led spinoff of Cyprus-based Castor Maritime is offloading the 2015-buit 5,000 cu m Dream Syrax to a subsidiary of Robin Energy, a Nasdaq-listed entity controlled…

  • Fugro nets work on Eni’s deepwater gas project in the Mediterranean

    Fugro nets work on Eni’s deepwater gas project in the Mediterranean Dutch surveyor Fugro has been awarded a contract to conduct a comprehensive site characterisation programme for a deepwater gas project in the Eastern Mediterranean. The project is operated by Italian major Eni and is located off the coast of Cyprus. Geo-data acquisition is scheduled…

  • Toro circles back to tankers with $36m MR deal

    Toro circles back to tankers with $36m MR deal Nasdaq-listed owner Toro Corp has made a swift return to the tankers segment with the acquisition of a modern MR unit. The Petros Panagiotidis-led spinoff of Cyprus-based Castor Maritime has struck a deal for an unnamed 2021-built products carrier costing $36.25m. The company said it would…

  • French firm hired to jumpstart stalled Cypriot LNG project

    French firm hired to jumpstart stalled Cypriot LNG project French-based engineering company Technip Energies has been awarded a project management consultancy (PMC) contract by Cyprus’ Natural Gas Infrastructure Company (ETYFA) for the country’s liquefied natural gas (LNG) terminal. The post French firm hired to jumpstart stalled Cypriot LNG project appeared first on Offshore Energy. Dragana…

  • Valaris rig on the move as ExxonMobil’s drilling ops end in non-commercial gas volumes

    Valaris rig on the move as ExxonMobil’s drilling ops end in non-commercial gas volumes ExxonMobil and QatarEnergy have wrapped up drilling activities off the coast of Cyprus, carried out with a drillship owned by Valaris, an offshore drilling contractor. The post Valaris rig on the move as ExxonMobil’s drilling ops end in non-commercial gas volumes…

  • Panagiotidis family member takes two bulkers from Castor Maritime

    Panagiotidis family member takes two bulkers from Castor Maritime Cyprus-based owner Castor Maritime has sold two of its panamax bulk carriers in another family-related transaction. The Nasdaq-listed company is shipping the 2011-built Magic Eclipse and the 2012-built Magic Callisto to outfits beneficially owned by a family member of chairman and CEO Panagiotidis. The deal worth…

  • Toro to become pure-play LPG carrier owner with tanker spin-off

    Toro to become pure-play LPG carrier owner with tanker spin-off Nasdaq-listed owner Toro has initiated a process of separating its tanker and LPG businesses. The spinoff of Cyprus-based Castor Maritime with one tanker and four gas carriers spinning off the 2006-built handysize products carrier Wonder Mimosa into a newly formed subsidiary Robin Energy. The company…

  • Frontline seals four-ship refinancing

    Frontline seals four-ship refinancing John Fredriksen’s Frontline has secured a fresh refinancing deal for four of its vessels. The New York- and Oslo-listed tanker giant said it had entered into three senior secured credit facilities of $239m in total, which will refinance three VLCCs and one suezmax vessel and, in addition, provide revolving credit capacity…

  • Aphrodite rising as Chevron, Shell, NewMed and Cyprus give the go-ahead for tweaked gas development plan

    Aphrodite rising as Chevron, Shell, NewMed and Cyprus give the go-ahead for tweaked gas development plan Chevron and its partners, BG Cyprus (Shell) and NewMed Energy, have given their blessing, together with the government of Cyprus, for an updated development plan of an offshore gas field reservoir in Block 12 located in the Eastern Basin of…

  • ExxonMobil, QatarEnergy get drilling ops with Valaris rig underway as Cyprus and Egypt sow the seeds of energy bonds

    ExxonMobil, QatarEnergy get drilling ops with Valaris rig underway as Cyprus and Egypt sow the seeds of energy bonds ExxonMobil and QatarEnergy have fired the starting gun on drilling activities off the coast of Cyprus, using one of the drillships owned by Valaris. The post ExxonMobil, QatarEnergy get drilling ops with Valaris rig underway as…

  • Thomas Kazakos appointed ICS secretary general

    Thomas Kazakos appointed ICS secretary general The International Chamber of Shipping (ICS) has appointed Thomas Kazakos as its next secretary general. The director general of the Cyprus Shipping Chamber since 1995 will replace Guy Platten, who will be stepping down at shipping’s top lobby group in June next year after holding the position for nearly…

  • Castor Maritime buys MPC Capital

    Castor Maritime buys MPC Capital Petros Panagiotidis-led Castor Maritime is buying a majority stake in MPC Münchmeyer Petersen Capital (MPC Capital), spending EUR182.8m ($192.6m) to take 74.09% of the shares in the Frankfurt-listed company. MPC Capital is an investment and asset manager specialising in infrastructure projects in the maritime and energy sectors. It is the…

  • Castor takes a loss on boxship sale

    Castor takes a loss on boxship sale Cyprus-based shipowner Castor Maritime will sell one of its three containerships, taking a loss of about $3.3m. The Petros Panagiotidis-led company has struck a $16.5m deal with an unaffiliated third party for the 2005-built 2,700 teu Ariana A. The company picked up the German-built boxship, estimated by VesselsValue…

  • Intership Navigation and Interorient Shipmanagement join forces

    Intership Navigation and Interorient Shipmanagement join forces Cyprus-based Intership Navigation and Interorient Shipmanagement have merged their shipmanagement activities into InterMaritime Shipmanagement. The newly formed company, which will include Intership’s sister company Donnelly Tanker Management, will manage a fleet of over 170 vessels including tankers of all types, LPG carriers, bulkers, containers, multipurpose ships and other…

  • Pelagic Partners charters out tanker to International Seaways

    Cyprus-based owner and shipping fund manager Pelagic Partners has sealed a charter deal with US tanker player International Seaways for one of its LR1 vessels. The 2009-built Pelagic Turbot has been fixed long-term to the New York-listed owner and operator following its recent docking. The 73,400 dwt unit is the second ship International Seaways has…