Port operator DP World plans to raise at least $700 million through conventional and Islamic bond issues on Thursday, documents issued by banks involved in the deal showed.Majority owned by the Dubai government, DP World plans to issue benchmark sukuk with a 10-year maturity…
Nakilat said for the first half of the year ended June 30, 2019 that it achieved a net profit of $130 million compared to $122 million during the same period in 2018, an increase of 7%.Nakilat’s financial performance is driven by the acquisition…
Newbuilding UpdateThe highlight for newbuild orders in the last 12 months must certainly be HMM’s mammoth order back in September 2018. The South Korean company placed en bloc orders at three top South Korean yards for almost $3 billion in total…
Port operator DP World has hired banks to arrange a series of investor meetings ahead of a potential issue of 10-year U.S. dollar-denominated sukuk, or Islamic bonds, a document issued by one of the banks leading the deal showed.DP World, majority owned by the Dubai government…
German container shipping company Hapag-Lloyd has decided to implement a global vessel risk surcharge (VRS) following recent maritime incidents in the Gulf of Oman.The container line said that operating costs for its services have increased…
Estonian shipping company Tallink Tallink Grupp has borrowed EUR 197.6 million to finance the new EUR 247 million LNG powered fast ferry currently under construction in Rauma Marine Constructions Oy.The loan agreement was concluded between AS Tallink Grupp subsidiary Tallink Superfast Ltd…
A.P. Moller-Maersk have joined other major container shipping companies in increasing prices for sending containers into the Persian Gulf in response to the heightened risk of military conflict in the area.Attacks on two oil tankers in the Gulf…
Today’s container market is confronting more than its fair share of headwinds.The recently published Container Forecaster from global shipping consultancy, Drewry, highlights concerns of a slowing global economy stoked by the ongoing US-China trade war (albeit paused for the moment)…
2019 brings new missions, strategies and new optimism for this three-port Northeast gateway.The Connecticut Port Authority began operations in 2016. The quasi-public agency’s mission is to grow Connecticut’s economy and create jobs by strategically…
Philly Shipyard ASA announced that Brian Leathers will assume the position of Chief Financial Officer (CFO) immediately following the Q2 2019 meeting of the Board of Directors on July 15, 2019.Mr. Leathers will replace Jan Ivar Nielsen, who…
Port operator DP World Plc will buy Topaz Energy and Marine Limited for $1 billion from Standard Chartered and Renaissance Services, DP World said on Monday.Topaz is a provider of marine logistics to the global energy industry. The deal is the…
The Piraeus-based shipping company Okeanis Eco Tankers Corp announced that it has secured commitment to a $11 million secured loan facility for its scrubber retrofit project from BNP Paribas.The tankers company, owned by the Alafouzos family…
Japanese shipping company Mitsui O.S.K. Lines (MOL) has announced its plan to issue “Sustainability Bonds” for the financing of a series of green projects.This is the first time a company in Japan has issued sustainability bonds aimed at individual investors…
A $513.6 million operating budget for fiscal year 2020 has been approved at the Port of Oakland. The Port’s governing Board OK'd the spending plan at a meeting yesterday.The new budget is up about 4 percent from the one adopted for fiscal year 2019…
Exmar Netherlands, a fully owned subsidiary of Belgium’s Exmar and a manager of specialized floating assets, has completed the bond repayment issued in 2014, extended in July 2017 and maturing in July 2019.According to a press note from the Nicolas Saverys-led shipowner…
