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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
Shipping group CMA CGM has obtained a 1.05 billion euro ($1.1 billion) loan to be 70% guaranteed by the French government as it seeks to bolster its cash position during the coronavirus pandemic, which has hammered international trade.The loan…
Shipping group A.P. Moller-Maersk warned of a sharp drop in global container volumes due to the coronavirus pandemic, with weaker retail sales and depressed car production dampening demand.The crisis has thrown the container shipping trade off…
