krogragg

Category: Finance and Insurance

  • 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…

  • Zurich buys rival insurer Beazley

    Zurich buys rival insurer Beazley Swiss insurance giant Zurich is buying British rival Beazley for £8.1bn ($10.8bn), having had an earlier £7.7bn bid rebuffed.  Beazley, which features a significant marine portfolio, will be delisted from the London Stock Exchange but will remain a UK-based company. Mario Greco, Zurich’s chief executive, said: “Leveraging Beazley’s established Lloyd’s…

  • Radziwill’s CTM adds firepower with new investors

    Radziwill’s CTM adds firepower with new investors Bermuda-domiciled dry bulk operator C Transport Maritime has brought Japan’s Tokyo Century Corporation and Norway’s Barque onto its register as new shareholders. As part of the deal, both investors have taken equity stakes in the company and appointed representatives to the board. Financial details were not disclosed. CTM…

  • Navigator fixes newbuild financing

    Navigator fixes newbuild financing New York-listed Navigator Holdings has secured a $133.7m loan to finance two liquefied ethylene gas carriers under construction in China. The handysize LPG carrier specialist said subsidiaries Navigator Parsec and Navigator Pleione signed the facility agreement with ABN AMRO Bank, Crédit Agricole Corporate & Investment Bank and Nordea Bank Abp. The…

  • Marinakis tanker spin-off boosts Oslo IPO

    Marinakis tanker spin-off boosts Oslo IPO Capital Tankers Corp has increased the size of its Oslo private placement to $500m after strong investor demand, ahead of a planned listing on Euronext Growth Oslo next month. The tanker owner, backed by Capital Maritime & Trading Corp, said the share sale was multiple times oversubscribed, prompting the…

  • Lloyd’s Agency Network moves to Lloyd’s List Intelligence

    Lloyd’s Agency Network moves to Lloyd’s List Intelligence Commercial insurance market Lloyd’s will transfer management of the Lloyd’s Agency Network to Lloyd’s List Intelligence (LLI) from April, bringing one of shipping’s longest-running portside information networks under the control of the maritime data provider. The move will see LLI take responsibility for the administration of the…

  • Marinakis spins out tanker arm for $345m Oslo raise

    Marinakis spins out tanker arm for $345m Oslo raise Greece’s Capital Tankers Corp, a tanker owner linked to Evangelos Marinakis-led Capital Maritime & Trading, is preparing to list in Oslo, backed by a large crude tanker orderbook and plans to raise up to about $345m. The Athens-based owner aims to raise the NOK equivalent of…

  • New head of Poseidon Principles urges banks to keep climate disclosure alive despite US rollback

    New head of Poseidon Principles urges banks to keep climate disclosure alive despite US rollback In a climate of escalating geopolitical tension and a sharp retreat from green legislation in Washington, Paul Taylor, the newly appointed chair of the Poseidon Principles Association, has issued a staunch defence of maritime transparency. Writing on LinkedIn, Taylor, who…

  • Dark fleet expansion looms as EU seeks to cut maritime lifelines for Russian oil

    Dark fleet expansion looms as EU seeks to cut maritime lifelines for Russian oil Russia’s shadow tanker fleet faces greater pressure, although it is forecast to rise in numbers, if the European Commission’s proposed a 20th sanctions package gets voted through later this month.  Europe plans to scrap the crude oil price cap and replace…

  • Red flags raised over growing cargo theft and freight fraud

    Red flags raised over growing cargo theft and freight fraud Cargo theft and freight fraud are climbing sharply across global supply chains, prompting a joint warning from the International Union of Marine Insurance (IUMI) and the Transported Asset Protection Association (TAPA). The two organisations said incidents are rising across Europe, the Americas and Africa, with…

  • MOL plugs into Singapore electric vessel start-up Pyxis

    MOL plugs into Singapore electric vessel start-up Pyxis MOL PLUS, the investment arm of Japanese shipping giant Mitsui OSK Lines (MOL), has taken a stake in Singapore-based electric vessel developer Pyxis Maritime. The investment targets both electric harbour craft and the charging stations, with a focus on commercial roll-out rather than pilot projects. Pyxis develops…

  • Michael Parker steps down as Poseidon Principles chair

    Michael Parker steps down as Poseidon Principles chair Michael Parker, Citi’s chairman of global shipping and logistics, has stepped down as chair of the Poseidon Principles, ending a six-year tenure that dates back to the initiative’s launch in 2019. Parker stood down from the role on December 31, 2025, but will remain involved as Citi’s…

  • Barriers to entry, barriers to exit and disintermediation

    Barriers to entry, barriers to exit and disintermediation Pierre Aury writes for Splash that in shipping, low barriers to entry are being offset by digital barriers to exit quietly built by IT vendors. The dry bulk and tanker markets are classic examples of commoditized, low-differentiation industries with hardly any barriers to entry. Vessels are more…

  • Poseidon Principles opens the door to private capital

    Poseidon Principles opens the door to private capital The Poseidon Principles, the shipping finance framework used by banks to track and disclose climate alignment, is widening its scope to bring more of the maritime finance world into the tent. Until now, the initiative has largely been the domain of ship lenders, lessors and financial guarantors.…

  • BIMCO rolls out new FuelEU and ETS clauses for ship sale deals

    BIMCO rolls out new FuelEU and ETS clauses for ship sale deals BIMCO has taken another step in helping owners and buyers navigate Europe’s tightening climate regulations by adopting new FuelEU Maritime and EU ETS clauses for inclusion in sale-and-purchase memoranda of agreement (MoAs). The world’s largest shipping association said the clauses are designed to…

  • Black Sea war risk premiums surge

    Black Sea war risk premiums surge Insurance rates for ships trading in the Black Sea have jumped sharply following a fresh wave of attacks on vessels linked to Russia. Citing data from Marsh, the world’s largest insurance broker, Bloomberg reported yesterday the cost of covering port calls in the region has more than tripled in…

  • Kremlin threatens wider retaliation as Black Sea security deteriorates

    Kremlin threatens wider retaliation as Black Sea security deteriorates Security in the Black Sea and surrounding waters has taken an ominous turn following a spike in attacks on Russian-linked shipping and fresh threats from the Kremlin, raising alarm and insurance rates. Vladimir Putin has warned that Moscow may expand military action against commercial tonnage if…

  • Yangzijiang Maritime seals SGX debut with multiple vessel deals

    Yangzijiang Maritime seals SGX debut with multiple vessel deals Yangzijiang Maritime Development marked its first day on the Singapore Stock Exchange’s mainboard with a string of new vessel deals, underscoring its ambitions as a growing maritime financial and asset management player. The company said it has signed contracts with a Marshall Islands-based owner for the…

  • ORIX steps in to save Japan’s greying shipowning class

    ORIX steps in to save Japan’s greying shipowning class Japan is well known for its acute demographic timebomb. More than 29% of its population is aged 65 or older — the highest proportion globally — while the birth rate continues to fall, reaching a record low in 2024. The working-age population is shrinking rapidly, straining…

  • Alternative lender Hudson Structured raises $719m for ship finance

    Alternative lender Hudson Structured raises $719m for ship finance US alternative financier Hudson Structured Capital Management (HSCM) has raised $719m for its latest shipping vehicle, marking the Connecticut-based firm’s largest maritime fund to date. The new fund, Hudson Northern Shipping Fund V (HNSF V), exceeded its $700m target, underscoring continued investor appetite for ship finance…

  • P&I claims hit a ten-year peak

    P&I claims hit a ten-year peak Lockton, the world’s largest independent insurance broker, has released a report highlighting mounting financial pressures on the International Group of P&I Clubs despite modest premium increases. The report also highlights the crisis of suicides at sea. The 2024/25 policy year saw the clubs report a collective underwriting loss of…

  • Tsao-backed vehicle co-launches $75m Asia Ocean Fund

    Tsao-backed vehicle co-launches $75m Asia Ocean Fund Two high-profile names from opposite sides of the world — Asian shipping tycoon Chavalit Frederick Tsao and Norwegian impact investor Tharald Nustad — have teamed up to create a new ocean impact vehicle aimed squarely at Asia. The pair yesterday unveiled the Asia Ocean Fund, a $75m investment…

  • ‘The end of globalisation is fast approaching’: IUMI president

    ‘The end of globalisation is fast approaching’: IUMI president Geopolitical conflicts and shifting trade patterns are redefining risks and opportunities for the marine insurance sector. Opening this year’s International Union of Marine Insurance (IUMI) conference in Singapore, IUMI president Frédéric Denèfle warned that marine insurers are facing significant change as the world approaches the end…

  • Capital Clean Energy Carriers seals boxship sale and gas carrier financing

    Capital Clean Energy Carriers seals boxship sale and gas carrier financing Evangelos Marinakis-backed Capital Clean Energy Carriers (CCEC) has agreed the sale of one of its three neo-panamax containerships and lined up financing for its medium gas carrier (MGC) newbuilding programme. The Nasdaq-listed Greek owner has struck a deal to sell the 2022-built 13,312 teu…

  • Ex-Christiania Gas boss joins Navigare Capital

    Ex-Christiania Gas boss joins Navigare Capital Denmark’s Navigare Capital Partners has brought in a former chief executive of Christiania Ga, Andrew McPhail, as a new partner, bolstering its investment team. McPhail is now working on business development and deal sourcing alongside partners Lars Christensen and Max Nielsen. His remit covers opportunities across the deepsea shipping…

  • Shipowners warned GPS spoofing groundings may not be covered by insurance

    Shipowners warned GPS spoofing groundings may not be covered by insurance The Association of Average Adjusters (AAA) has issued a warning to the maritime sector, highlighting the growing legal ambiguity around insurance claims involving vessel groundings linked to GPS spoofing. In a new discussion paper, the AAA warns that cyber exclusion clauses increasingly found in…

  • Splash Wrap: Flags, fines and fakes

    Splash Wrap: Flags, fines and fakes Sanctions, the shadow fleet, and the many ways authorities are trying to clamp down on this illicit trade kept Splash reporters busy all week, with clear evidence that the dark fleet is growing quicker than the West can contain.  The grey fleet – as tracked by broker BRS –…

  • Norway to demand insurance disclosure from foreign tankers

    Norway to demand insurance disclosure from foreign tankers Norwegian authorities will require foreign-flagged tankers operating within the country’s economic zone to disclose their insurance arrangements starting August 11. The new rule, announced by Norway’s coastal administration, is part of a broader push to enhance maritime safety and environmental protection amid mounting concerns over the growing…

  • Maris Fiducia debuts eight-vessel investment platform

    Maris Fiducia debuts eight-vessel investment platform Maris Fiducia Finance, the investment arm of Maris Fiducia, has created a new platform for investors based on its eight-strong Bird Fleet. According to the company, the platform is for robust maritime investments, backed by real ships, long-term contracts, and a focus on sustainability. Maris Fiducia’s Bird Fleet consists…

  • 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…

  • Union Maritime locks in $130m financing for wind‑assisted RL2 newbuilds

    Union Maritime locks in $130m financing for wind‑assisted RL2 newbuilds Diversified UK shipowner Union Maritime has closed a $130m delivery financing package for two next‑generation LR2 tankers. The deal was led by Société Générale and the Export–Import Bank of China and arranged through a syndicated facility. The vessels are scheduled for delivery from Yangzijiang Shipbuilding…

  • Sri Lanka’s top court orders $1bn payout over X-Press Pearl disaster

    Sri Lanka’s top court orders $1bn payout over X-Press Pearl disaster Sri Lanka’s Supreme Court has ordered the owners and operators of the X-Press Pearl container vessel to pay $1bn in compensation for the devastating environmental and economic damage caused when the ship caught fire and sank off Colombo in 2021. Described by the court…

  • Gibson enters maritime finance with RMK merger

    Gibson enters maritime finance with RMK merger UK shipbroking firm E.A. Gibson is expanding into maritime finance through a merger with RMK Maritime, a move that will see the latter rebranded as E.A. Gibson Capital from August this year. The tie-up adds capital advisory capabilities to Gibson’s service offering, reflecting a strategic step in adapting…

  • BW LPG locks in $595m across two financing deals

    BW LPG locks in $595m across two financing deals VLGC owner and operator BW LPG has wrapped up two financing facilities totalling $595m, aimed at supporting its fleet expansion, refinancing existing debt, and boosting liquidity. The dual-listed unit of Singapore’s BW Group closed a $380m term loan and revolving credit facility backed by seven banks.…

  • Genco targets fleet and growth moves with new $600m credit line

    Genco targets fleet and growth moves with new $600m credit line US-based dry bulk owner Genco Shipping & Trading has completed an amended and upsized revolving credit facility, boosting its borrowing capacity to $600m as it positions itself for future growth and continued balance sheet flexibility. The new deal increases the New York-listed company’s credit…

  • Hafnia seals $715m credit line backed by 32 ships

    Hafnia seals $715m credit line backed by 32 ships Product tanker giant Hafnia has secured a $715m revolving credit line, secured by a fleet of 32 modern vessels and supported by a diverse syndicate of 11 leading international banks. The seven-year facility, which features a highly competitive margin and a 20-year age-adjusted amortisation structure, provides…

  • Condon Claims Management acquires Marine Claims Associates

    Condon Claims Management acquires Marine Claims Associates Thomas Miller-controlled Condon Claims Management has acquired US-based Marine Claims Associates for an undisclosed price.  The acquisition will take place effective immediately and the entire Marine Claims Associates’ team will fall under the Condon Claims Management brand. “Having the knowledge and experience to broaden our services is essential…

  • Performance Shipping agrees refinancing deal with Greek bank

    Performance Shipping agrees refinancing deal with Greek bank Nasdaq-listed Greek tanker owner and operator Performance Shipping has agreed to the refinancing of an existing outstanding loan of $29.75m with compatriot Alpha Bank. Proceeds from the facility will be used to fully refinance the existing debt maintained with Alpha Bank, secured by the 2013-built aframax P.…

  • ‘Britain has gone to hell, like Norway’: John Fredriksen

    ‘Britain has gone to hell, like Norway’: John Fredriksen Norway’s richest man, John Fredriksen, has launched a blistering critique of the state of life in both Norway and the UK, confirming he is relocating some of his business to the United Arab Emirates to escape what he sees as a Western world in steep decline.…

  • Union Maritime launches financing scheme to spur wind propulsion use

    Union Maritime launches financing scheme to spur wind propulsion use UK shipowner Union Maritime has launched a new lease financing programme, which will help accelerate the adoption of wind-assisted propulsion systems in the maritime sector. The new programme, named SeaBreeze, offers 100% financing, making sustainable technologies more accessible for shipowners aiming to meet evolving emissions…

  • BHP, Cargill and Rio Tinto seek new investors into RightShip

    BHP, Cargill and Rio Tinto seek new investors into RightShip BHP, Cargill and Rio Tinto, the founders of shipping vetting organisation RightShip, have employed Rothschild & Co to seek new investors. In a release, RightShip said its primary goal is to partner with an investor who brings not only capital but also significant expertise in…

  • Pyxis Tankers lines up funds for fleet growth

    Pyxis Tankers lines up funds for fleet growth Greek owner Pyxis Tankers has set out to potentially expand its fleet by up to two ships with the signing of a commitment letter for a bank loan of up to $45m. The Nasdaq-listed firm said it is eyeing modern product tankers between 45,000 dwt and 115,000…

  • Navigator fixes $300m of new financing

    Navigator fixes $300m of new financing New York-listed Navigator Holdings has lined up $300m in fresh financing to clear out existing debt maturities. The Mads Peter Zacho-led company said its subsidiaries Navigator Gas and Othello Shipping have struck a deal with a consortium of lenders comprising Nordea Bank, Danish Ship Finance, Danske Bank, DNB UK,…

  • Danish government looks to establish $1bn war risk programme

    Danish government looks to establish $1bn war risk programme The Danish government has announced plans to create a state-backed $1bn war risk programme for ships to be used in the event commercial insurance markets fail.  The government said the insurance plan, due to be voted on in parliament later this year, was a “timely precaution”. …

  • All ships passing through European waters must now provide proof of insurance

    All ships passing through European waters must now provide proof of insurance The European Commission has adopted another key measure to crackdown on the so-called shadow fleet passing through its waters. The amendment to the Vessel Monitoring Directive now requires all vessels, including those merely passing through European Union waters without entering an EU port,…

  • Change at the top at Britannia

    Change at the top at Britannia The Britannia Group, the world’s oldest P&I insurer, has revealed its long-term CEO, Andrew Cutler, will leave the company at the end of the year to pursue a portfolio of non-executive roles.. Cutler joined the Britannia Group in 2006 as a senior claim handler, having previously been a partner…

  • Singapore’s Vasi becomes first liner casualty of 2025

    Singapore’s Vasi becomes first liner casualty of 2025 Vasi Shipping, a small Singaporean containership operator, has filed for bankruptcy. The company, founded 13 years ago, has $19m of debt owed to creditors. Previously, it operated on intra-Asia routes on three owned ships, all of which it has sold recently to try and pay back debts.…

  • Atlas and EMF cash in on car carrier newbuilds

    Atlas and EMF cash in on car carrier newbuilds Greek owner Atlas Maritime and Danish shipping investment firm European Maritime Finance (EMF) have confirmed a lucrative asset play involving at least one of their car carrier newbuildings. The duo has revealed the delivery of the 7,000 ceu Electric Star to Noatum Maritime for an undisclosed…

  • F. Laeisz revealed as Belships co-investor

    F. Laeisz revealed as Belships co-investor German owner F. Laeisz has emerged as a co-investor in the takeover of Norwegian dry bulk player Belships. The Nikolaus Schües-led shipping group has snapped up a 25.01% stake in the ultramax specialist following the public takeover launched by asset management firm EnTrust Global and its vehicle Blue Northern.…

  • Keep watching the bond curve

    Keep watching the bond curve Andrew Craig-Bennett with financial advice for shipowners amid the Trump market gyrations. Donald Trump has just backed away from the abyss – denying, of course, that he is doing any such thing – and, while adding yet more tariffs to imports from China to the US, he has announced a…

  • Bibby unit lines up $25m vessel finance for smaller owners

    Bibby unit lines up $25m vessel finance for smaller owners BFS Marine Finance, part of Bibby Line Group’s independent funder Bibby Financial Services, has lined up £20m ($25m) to support smaller businesses within the commercial marine sector. A structured facility has been agreed with the British Business Bank to provide secured financing for fleet renewal,…

  • Shipping and scenario planning

    Shipping and scenario planning How can you plan for the future when the present is so uncertain, writes Pierre Aury? Scenario planning involves looking at different scenarios with associated assumptions and events. These scenarios are not forecasts but views of how the future could unfold. These scenarios only need to be plausible. The idea is…

  • Seanergy strikes double sale and leaseback

    Seanergy strikes double sale and leaseback US-listed Greek capesize bulker specialist Seanergy Maritime has entered into sale and leaseback agreements with a Chinese financier for two of its vessels. The Stamatis Tsantanis-led company revealed in its annual report that the 2009-built Friendship and the 2010-built Squireship had been sold to China Huarong Shipping Financial Leasing,…

  • Flags of questionable quality grow market share

    Flags of questionable quality grow market share Over 5,000 vessels  – equivalent to 14.5% of the global merchant fleet – operate under registries with less than 10% ratification of International Maritime Organization and the International Labour Organization conventions, increasing exposure to enforcement actions, according to new data from analytics firm Kpler. “Flag risks are increasingly…

  • Golar bags $1.2bn FLNG vessel refinancing

    Golar bags $1.2bn FLNG vessel refinancing Tor Olav Trøim-backed floating liquefied natural gas (FLNG) specialist Golar LNG has struck a deal with a consortium of Chinese lessors which will see the refinancing of the existing debt on the FLNG Gimi vessel. The agreement, structured as a sale and leaseback is worth about $1.2bn and expected…

  • Höegh Autoliners snaps up leased car carrier

    Höegh Autoliners snaps up leased car carrier Norwegian car carrier player Höegh Autoliners is taking ownership of one of its leased vessels. The Oslo-listed outfit has exercised a purchase option at Parcar Shipholding on the 2010-built Höegh Copenhagen. The deal worth $36.5m will see the 7,850 ceu vessel switch ownership in August, the Andreas Enger-led…

  • A.P. Moller Capital buys into Philippine logistics firm

    A.P. Moller Capital buys into Philippine logistics firm A.P. Moller Capital has agreed to acquire 40% of the Philippine logistics company AC Logistics (ACL) from Ayala Corporation. Established in 2021, ACL offers supply chain solutions covering cold chain solutions, freight forwarding, national distribution, and contract logistics. The Copenhagen-based infrastructure fund management affiliate of A.P. Moller…

  • 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…

  • Carisbrooke seals $27m newbuild financing

    Carisbrooke seals $27m newbuild financing UK owner Carisbrooke Shipping has secured financing for its newbuilding programme in the Netherlands. Germany’s KfW IPEX-Bank is backing the construction of two 7,700 dwt general cargo vessels at Thecla Bodewes Shipyards with around €26m ($27.3m). The ships in the so-called Labrax series have modern diesel-electric propulsion, with an option…

  • Louis Dreyfus Armateurs to be taken over by fellow private equity firm

    Louis Dreyfus Armateurs to be taken over by fellow private equity firm French family-owned shipowner Louis Dreyfus Armateurs (LDA) has revealed takeover talks with compatriot private equity firm InfraVia. The two companies have entered exclusive negotiations for Paris-based InfraVia to acquire an 80% stake in LDA which currently manages 23 ships in roro, offshore wind…

  • JP Morgan Asset Management buys out Oaktree’s stake in OSM Thome

    JP Morgan Asset Management buys out Oaktree’s stake in OSM Thome Oaktree Capital Management is cashing out of shipmanagement giant OSM Thome, with investors linked to JP Morgan Asset Management’s Global Transportation Group coming onboard in its place. OSM Thome’s founding shareholders, OSM Maritime Partners and Skagerak Holding will continue as shareholders, resulting in what…

  • Houthis seen by Maersk as the dividing line between profit and loss this year

    Houthis seen by Maersk as the dividing line between profit and loss this year Last year has proven to be the third most profitable year in the history of container shipping, and likewise it proved to be the third best year in the 121-year history of Denmark’s largest shipping concern, Maersk. Top management in Copenhagen…

  • Economou’s TMS Group enters leasing deal for newest LNG carrier

    Economou’s TMS Group enters leasing deal for newest LNG carrier Japan’s SBI Leasing Services has partnered with France’s BNP Paribas to arrange a leasing agreement with George Economou-led TMS Group for the newly built Athos LNG carrier. The vessel was completed in September last year at Samsung Heavy Industries in South Korea. The 174,000 cu…

  • Asyad Shipping charts Oman IPO course

    Asyad Shipping charts Oman IPO course Oman’s state-controlled logistics giant Asyad Group has moved to sell shares in Asyad Shipping through an initial public offering. Crédit Agricole Corporate and Investment Bank and Société Générale have been appointed as joint bookrunners for the group, which plans to sell a stake of at least 20% in Asyad…

  • Shuaa Capital lines up $300m for OSV business

    Shuaa Capital lines up $300m for OSV business UAE-based asset management and investment banking firm Shuaa Capital has secured a financial boost for its marine offshore support vessel (OSV) segment. The Shuaa-managed fund has clinched a seven-year finance facility of up to $300m from National Bank of Fujairah (NBF) and The Arab Energy Fund (TAEF),…

  • Wuhu Shipyard in $4bn tie-up with compatriot leasing duo

    Wuhu Shipyard in $4bn tie-up with compatriot leasing duo China’s Wuhu Shipyard has partnered up with two domestic financial leasing players to jointly work on new projects potentially worth more than RMB30bn ($4.1bn). The largest shipbuilding enterprise in Anhui province, formerly known as Fujiheng Machinery Plant, has penned a collaboration agreement with Wanjiang Financial Leasing…

  • Audit finds more than 80% of sanctioned ships have no confirmed insurance

    Audit finds more than 80% of sanctioned ships have no confirmed insurance The number of vessels hit by sanctions has surpassed 1,000 with data from S&P Global Market Intelligence showing that more 800 of these ships do not have confirmed insurance. Moreover, the average age of sanctioned ships – 21 years – is some eight…

  • Seacon agrees sale and leaseback for bulker newbuild

    Seacon agrees sale and leaseback for bulker newbuild China’s Seacon Shipping has secured financing for one of its handysize bulk carriers under construction in Japan. The Hong Kong-listed company said in a filing it had agreed to a $31.38m sale and leaseback deal for a 40,000 dwt bulker with Panama-incorporated Dawn Shipping and its Japan-based…

  • Globus Maritime bags sale and leaseback for ultramax newbuild

    Globus Maritime bags sale and leaseback for ultramax newbuild Greek dry bulk owner Globus Maritime has struck a sale and leaseback deal for one of its recently delivered vessels. The Nasdaq-listed company said it had sold its ultramax Glbs Magic to a Japanese buyer for $25m in December and chartered the 2024-built bulker back for…

  • EnTrust strikes deal on cash offer for Belships

    EnTrust strikes deal on cash offer for Belships US asset management firm EnTrust Global is set to launch a voluntary cash tender offer to take over Norwegian bulker owner Belships.  Blue Northern, a special purpose vehicle formed by funds managed by the Blue Ocean maritime investment team at EnTrust, will offer NOK20.50 per share in…

  • China Merchants signs for newcastlemax newbuild brace

    China Merchants signs for newcastlemax newbuild brace China Merchants Energy Shipping (CMES) has struck a lease deal for a pair of scrubber-fitted newcastlemax bulker newbuilds delivering in 2026. The Shanghai-listed diversified shipping arm of China Merchants Group said in a filing it would be paying around $100m to take 210,000 dwt vessels on charter from…

  • Poseidon Principles banks make headway in aligning with climate targets

    Poseidon Principles banks make headway in aligning with climate targets The Poseidon Principles group of banks has moved closer to alignment with IMO’s revised GHG strategy to remove emissions from shipping by 2050. In its fifth annual report, the framework for measuring and reporting the alignment of lenders’ shipping portfolios with climate goals showed a…

  • Specialist workshops added to Geneva Dry

    Specialist workshops added to Geneva Dry Based on feedback from delegates to this year’s event, the organisers of Geneva Dry have added two specialist workshops to next year’s edition of the world’s premier commodities shipping conference. On the morning of April 28, delegates will be able to attend both the Crewing In The Digital Age…

  • Idan Ofer unveils new ship leasing arm

    Idan Ofer unveils new ship leasing arm Idan Ofer has unveiled a new ship leasing arm in Singapore.  Dynamis Capital has been created by Quantum Pacific, Ofer’s holding company, having just bought Fleetscape Capital from Oaktree Capital Management, a division that has a fleet of around 25 ships.  Fredrik Ulstein and Kaizad Doctor, previously with…

  • Nicolas Saverys in second attempt to take Exmar private

    Nicolas Saverys in second attempt to take Exmar private Belgian shipowner Nicolas Saverys is planning to launch another voluntary and conditional public takeover bid for all shares in gas shipowner and infrastructure provider Exmar. Saverys’ investment vehicle Saverex would offer €11.5 in cash for each share it does not already own, a premium of 38.6%…

  • Shipping heavyweights invest in UK decarbonisation firm

    Shipping heavyweights invest in UK decarbonisation firm US-based shipbroker and consulting group McQuilling Partners has joined the growing list of marine industry heavy hitters backing the UK-listed green decarbonisation pioneer SulNOx. McQuilling is investing in a new funding round led by SulNOx’s largest shareholder Constantine Logothetis and Norway’s shipowner Nistad Group after the UK firm’s…

  • Rising climate risks and the evolving role of marine insurance

    Rising climate risks and the evolving role of marine insurance Robert Mackay from FDR Risk writes for Splash today. Extreme weather events triggered by climate change are becoming more frequent and severe, reshaping operational risk and creating unprecedented challenges for shipowners and operators. The recent floods in Valencia, Spain, only served to refresh the urgency…

  • Maritime Partners celebrates closing new financing solution for shipping

    Maritime Partners celebrates closing new financing solution for shipping Louisiana-based Maritime Partners is celebrating the closing of a $750m, first-of-its-kind warehouse facility, which will be collateralised by three wholly owned business lines within one of its managed funds with a syndicate of lenders led by ATLAS SP Partners. The initial portfolio includes Jones Act tankers,…

  • CDB Leasing offloads kamsarmax trio at auction

    CDB Leasing offloads kamsarmax trio at auction CDB Leasing has been tied to a triple kamsarmax bulker sale through an auction.  Multiple brokers report the Hong Kong-listed leasing unit of China Development Bank has offloaded the 2015-built CL Rizhao and the 2016-built CL Singapore and CL Tianjing for around $68.5m. VesselsValues estimates the ships between…

  • Australia’s TCorp invests in Cyan Renewables 

    Australia’s TCorp invests in Cyan Renewables  Fast-expanding offshore wind vessels pureplay Cyan Renewables has secured backing from Australia’s TCorp. The funding arm of Australia’s most populous state, New South Wales, said it had acquired an interest in Cyan with an initial investment of over $100m, with plans for further cash injections to support the Singapore-based…

  • Hong Kong’s role in global ship finance

    Hong Kong’s role in global ship finance The city has plenty of core strengths when it comes to providing capital to shipping. The latest installment from our brand new magazine being distributed across Hong Kong Maritime Week. Hong Kong has a long tradition of providing shipping finance and progress has recently been made to attract…