Finance News

 

Sovcomflot IPO Expected to Price at Low End of Range

Oct 06, 2020

Russian shipping company Sovcomflot is guiding investors to expect its initial public offering (IPO) to price at the low end of the marketing range, two bookrunners organizing the transaction said on Tuesday.The first big stock market float…

IUMI: Marine Cargo Insurance "Improving"

Sep 21, 2020

Sean Dalton, Chair of IUMI’s Cargo Committee reports the majority of marine cargo markets geographically can best be described as “hard” or “improving” amid significant change driven by unprecedented disruption to the global economy and world trade due to the COVID-19 pandemic…

Seatankers Hires Investment Chief, Invites Outside Capital

Sep 03, 2020

Seatankers, the powerful holding company of Norwegian-born billionaire John Fredriksen, said on Thursday it had hired a veteran fund manager to broaden the group’s portfolio and bring in outside capital in a new unit.Vegard Soeraunet, until…

Frontline's Earnings Surge on Demand for Oil Storage

Aug 27, 2020

Oil tanker group Frontline reported a big jump in second-quarter earnings on Thursday as energy traders paid to store crude that went unsold amid the COVID-19 pandemic, the company said on Thursday.Frontline's April-June adjusted net profit rose to $206…

Zim Exploring IPO on Foreign Exchange

Aug 24, 2020

Israeli shipping company Zim is considering an initial public offering on a foreign exchange, Israeli news website Globes reported on Monday.A Zim spokesman said the company was not commenting.Two options being examined are to hold the offering in London or New York…

Ocean Tankers Seeks to Reclaim $19 Mln from Lim Family

Aug 17, 2020

The court-appointed manager of Singapore Ocean Tankers (Pte.) Ltd is seeking to reclaim about $19 million from the Lim family directors of the firm, who allegedly transferred the funds from the shipping company to their accounts in April, court documents show…

Trafigura Offers COVID-19 Premium

Jul 31, 2020

Commodities trader Trafigura Beheer has become the first company to offer a defined Covid premium on an Asian syndicated loan, paying up to an extra 20bp all-in on its latest US$1bn-equivalent financing.The novel pricing structure is a first for Asia…

Hapag-Lloyd Ups Profits, But Warns of Risks

Jul 15, 2020

German container shipping line Hapag-Lloyd on Wednesday reported preliminary results for the first half of 2020 showing core profits above those of the same 2019 period and upholding its guidance for full year earnings.However, the company said…

Klaveness Lines Up Sustainability-linked Newbuild Financing

Jul 06, 2020

Norwegian shipping company Klaveness Combination Carriers (KCC) said it has secured a $60 million sustainability-linked term loan and revolving credit facility for the financing of the seventh and eighth CLEANBU vessels with delivery in 2021…

The Four Dominant Criteria of Yacht Insurance

Jun 16, 2020

It is generally understood that the insurance coverage of a luxurious Yacht can be a headache for her owner, not having the necessary knowledge and sufficient information to make an educated decision with confidence, especially in a changing and challenging international insurance market…

Jeff Bezos Invests in Digital Freight Forwarder Beacon

May 31, 2020

Amazon.com Inc Chief Executive Jeff Bezos has picked British startup Beacon, a digital freight forwarder, for his latest investment.Beacon said on Sunday it raised over $15 million in Series A fundraising, from investors including Bezos and venture capital firm 8VC…

EU Approves Finnish Aid to Maritime Companies Impacted by COVID-19

May 29, 2020

The European Commission has approved a €600 million ($668.1 million) Finnish aid scheme to support maritime companies impacted by the coronavirus outbreak.The aid scheme will take the form of State guarantees on working capital loans and will…

COVID-19 Puts Copenhagen Cruise Terminal on Ice

May 29, 2020

With uncertainty surrounding business in general, and specifically the future shape and form of the cruise industry, it was announced the the establishment of the new cruise terminal in Copenhagen is postponed indefinitelyA very significantly changed cruise market…

Pacific International Lines Secures Debt Deal

May 27, 2020

Singapore-based container ship operator Pacific International Lines Pte (PIL) has agreed with most of its financial lenders to defer debt payments and is in talks with a unit of Singapore state investor Temasek Holdings for a potential investment…

Hapag-Lloyd Keeps 2020 Guidance

May 15, 2020

German container liner Hapag-Lloyd on Friday stuck with its full-year earnings guidance but warned that supply disruptions and weaker demand due to the coronavirus crisis may lead to a revision of its forecast in the second half of 2020.The number five in worldwide container shipping…

Logistics News

Cargotec Appoints Lindholm as President and CEO

Cargotec Appoints Lindholm as President and CEO

Italian Union Files Legal Complaint Against Snam's LNG Terminal

Italian Union Files Legal Complaint Against Snam's LNG Terminal

EVENT: Reuters U.S. Offshore Wind Returns to Boston

EVENT: Reuters U.S. Offshore Wind Returns to Boston

Wisconsin Awards $5.3 Million in Harbor Maintenance Grants

Wisconsin Awards $5.3 Million in Harbor Maintenance Grants

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