Archive for the ‘Banking’ Category

Euronav Conversion of convertible bonds

Euronav Conversion of convertible bonds
ANTWERP, Belgium, 24 January 2014 – Euronav NV announces that on 23 January 2014 its share capital was increased following the exercise of the conversion option of 97 convertible bonds issued in 2013 and maturing in 2018. That resulted in the issuance of 1, 679, 010 new ordinary shares. The impact...
January 24th, 2014 | Banking, Company Profiles, Shipfinance, Stock Markets | Read More

HSH Nordbank financing shopping mall portfolio for Morgan Stanley real estate fund

• Successful start to the year achieved by the Real Estate Clients division with large-scale transaction for Morgan Stanley real estate fund HAMBURG/KIEL HSH Nordbank has entered the new year by providing Morgan Stanley Real Estate Fund Global VII, a closed-end real estate fund managed by investment...
January 20th, 2014 | Banking, Finance | Read More

Funding gaps, OSI and why Greece’s aim to access wholesale funding markets in 2014…

Funding gaps, OSI and why Greece’s aim to access wholesale funding markets in 2014…
Platon Monokroussos Greece Macro Monitor (15 January, 2014) Funding gaps, OSI and why Greece’s aim to access wholesale funding markets in 2014 constitutes a reasonable (and conditionally feasible) proposition Summary In this report, we take a close look at some important aspects of the agenda of the...
January 15th, 2014 | Banking, Finance, Markets, News | Read More

Diana’s new acquisitions, fixtures et al

Diana’s new acquisitions, fixtures et al
Diana Shipping Inc. Announces Signing and Drawdown of  a US$18 Million Term Loan Facility with Commonwealth Bank of Australia;  Announces Time Charter Contract for m/v Crystalia with Glencore ATHENS, GREECE, January 14, 2014 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping...
January 14th, 2014 | Chartering, Dry Bulkcarriers, Fixtures, Markets, Ocean Shipping, Sales and Purchases, Shipfinance, Stock Markets | Read More

Capital increases through bond conversion and equity raise

Capital increases through bond conversion and equity raise
ANTWERP, Belgium, 13 January 2014 – Euronav NV announces that on 10 January 2014 its share capital was increased following the exercise of the conversion option of 491 convertible bonds issued in 2013 and maturing in 2018. That resulted in the issuance of 8, 163, 810 new ordinary shares. The impact...
January 14th, 2014 | Banking, Stock Markets | Read More

OW Bunker signs US$ 700 million revolving credit facility

OW Bunker signs US$ 700 million revolving credit facility
OW Bunker, one of the world’s leading resellers and physical distributors of marine fuel, has signed a USD 700 million revolving credit facility, refinancing its current USD 450 million facility. The new facility consisting of two tranches, a 364-day and a 3-year multi-currency revolving credit facility,...
January 9th, 2014 | Bunkering, Finance | Read More

Market dips

Market dips
John Faraclas We did said it: 2014 will be the year of the upheavals… Again live from the studios of SBC TV in Athens earlier on this afternoon Friday the 3rd of January 2014 John Faraclas expressed his fears about the world shipping markets in its entirety. The year opened with the markets diving...
January 3rd, 2014 | Airline Industry, Chartering, Cruise Industry, Dry Bulkcarriers, Fixtures, Maritime Tourism, News, Oil Industry, Ports & Terminals, Sales and Purchases, Ship Conversions, Ship Demolitions, Shipbuilding and Shipyards, Shipfinance, Shipping Indices, Shiprepair, Statistics, Stock Markets, Tankers, Taxation, Tourism, Trade and Commerce | Read More

Alternative sources of debt finance for shipping…

Alternative sources of debt finance for shipping…
Jeremy Penn, Jim Davis and Simon Lew Alternative sources of debt finance for shipping: potential ways forward outlined in IMIF talk by Simon Lew of Norton Rose Fulbright Shipping may be able to adopt financing methods favoured in the aircraft sector, in its search for new routes to fund newbuilding projects. Among...
January 2nd, 2014 | Conferences, Seminars, Forums, IMIF, Shipfinance | Read More

HSH Nordbank strengthens its position in USD business with USD 700 million funding

HAMBURG/KIEL With a wholesale secured financing transaction jointly arranged and executed with Citigroup, HSH Nordbank strengthens its position in the important USD-based lending business. OCEAN FUNDING 2013 raises up to USD 700 million for HSH Nordbank. The transaction is collateralized with a portfolio...
December 18th, 2013 | Banking, Shipfinance | Read More

Sovcomflot concludes USD 316 million, 10 year project non-recourse credit facility

Sovcomflot concludes USD 316 million, 10 year project non-recourse credit facility
From the signing ceremony OAO Sovcomflot (SCF Group) is pleased to announce that it has signed a new USD 316 million 10 year credit facility with a consortium of three leading international banks: ING Bank N.V. (ING) of the Netherlands; KfW IPEX-Bank GmbH (KfW) of Germany and Sumitomo Mitsui Banking...
December 17th, 2013 | Banking, Energy, LNG, Shipbuilding and Shipyards, Shipfinance | Read More

Euronav to raise US$ 150 mio…

Euronav to raise US$ 150 mio…
EURONAV to raise US$ 150 mio of perpetual convertible preferred equity ANTWERP, Belgium, 16 December 2013 – The board of directors of Euronav NV (‘Euronav’) announced today that the company has raised USD 150 million via a private placement of a perpetual convertible preferred equity instrument...
December 16th, 2013 | Banking, Markets, News, Shipfinance, Stock Markets | Read More

Greece Macro Monitor (11 Dec 2013): An Empirical Study on the Bank Lending Channel in Greece & the Euro area

Greece Macro Monitor (11 Dec 2013):  An Empirical Study on the Bank Lending Channel in Greece & the Euro area
Bank credit supply in Greece: determinants, recent developments and outlook This paper constitutes an update on our earlier study on the functionality on the monetary policy transmission mechanism and the bank lending channel in Greece and the euro area (see Monokroussos, M. and D. Thomakos, 2013a,...
December 12th, 2013 | Banking, Finance | Read More

HSH Nordbank finances Karstadt department store for Meyer Bergman

HSH Nordbank finances Karstadt department store for Meyer Bergman
HAMBURG/KIEL HSH Nordbank finances the acquisition of the Karstadt department store at Hermannplatz in Berlin-Neukölln (Germany) for Meyer Bergman. The building has been pur-chased by the London-based manager’s second value-add fund, Meyer Bergman European Retail Partners II (MBERP II). The 90, 000...
December 11th, 2013 | Banking, Finance | Read More

Official discussions on the current review of Greece’s stabilization program to resume in early December

Official discussions on the current review of Greece’s stabilization program to resume in early December
Greece Macro Monitor (28 Nov 2013) Official discussions on the current review of Greece’s stabilization program to resume in early December Pending issues & progress attained thus far  This report* constitutes an update of our November 14th Greece Macro Monitor “5th troika review of Greece’s...
November 29th, 2013 | Banking, Markets, Trade and Commerce | Read More

Core Bank posted pre-tax profit of EUR 139 million after nine months

Core Bank posted pre-tax profit of EUR 139 million after nine months
Core Bank has thus been profitable for past five quarters New business up nine percent to EUR 4.9 billion. Restructuring Unit recorded a loss of EUR -271 million before taxes As expected, the Group posted a loss of EUR -104 million Core Tier 1 capital ratio further improved to a high level, i.e. 12.1...
November 29th, 2013 | Banking, Finance, Shipfinance | Read More

Japonica kicks-off “Greece is A+” Campaign

Japonica kicks-off “Greece is A+” Campaign
Japonica kicks-off “Greece is A+” Campaign — Current economically irrational and anachronistic accounting obfuscates that Greece merits an A+ — — Open letter recommends public policy makers advocate accounting that reflects economic reality — FRANKFURT, Germany,...
November 26th, 2013 | Banking, Breaking News, Finance, Politics and Government | Read More

Dutch Court of Appeal widens ship arrest scope

Dutch Court of Appeal widens ship arrest scope and cheers up bankers ROTTERDAM-based law firm AKD says a recent decision in the Dutch Court of Appeal substantially extends the jurisdiction of Dutch courts following a ship arrest. In the case of theHero (HSH Nordbank vs Hero Shipping) the court ruled...
November 26th, 2013 | Banking, Legal, Shipfinance | Read More

Record turnout at 7th City of London Biennial Meeting

Record turnout at 7th City of London Biennial Meeting
Prof. Costas Grammenos introducing the event and giving a brief account of the Centre’s 30th Anniversary on day 1 20 November 2013 – Hundreds of delegates from as far away as China, Hong Kong and the USA convened in London for the seventh City of London Biennial Meeting. More than 700 senior...
November 20th, 2013 | Academia, Anniversaries, Banking, Conferences, Seminars, Forums, Energy, Environment, Finance, HR, Markets, Shipfinance | Read More

ShipMoney Expands Its Customer Base in Norway

ShipMoney Expands Its Customer Base in Norway
Expands Its Customer Base in Norway –  Ft Lauderdale, Florida, USA (18th November 2013): Maritime Payment Solutions, LLC – Program Manager of ShipMoney for Crew and ShipMoney for Captains is pleased to announce that it has signed a Norwegian Ship Management Company that operates a fleet of...
November 20th, 2013 | Banking, Marine Equipment Products and Services | Read More

More caution needed in the shipping industry and the world economy….

More caution needed in the shipping industry and the world economy….
www.allaboutshipping.co.uk brings you live some of the best and important international news from week 46 and the beginning of week 47, this Monday the 18th of November 2013 The dropping Markets with the BDI index going down at 1, 500 earlier today and the big sizes in real drop suggests caution on...
November 18th, 2013 | Associations, Banking, Conferences, Seminars, Forums, Container shipping, Corruption, Energy, Environment, Events, HR, IMarEST, IMO, News, Organisations, Shipfinance | Read More

Eurobank’s Greek GDP NOWcasting model

Eurobank’s Greek GDP NOWcasting model
Greek Q4 GDP forecast: -2.0% QoQ s.a. / -1.9% YoY Full-year 2013:  -3.5% vs. -6.4% last year The attached paper presents an econometric model that can be used to derive real-time estimates of key macroeconomic variables such as GDP, unemployment and inflation. In the empirical case study presented...
November 18th, 2013 | Banking, Finance | Read More

5th troika review of Greece’s stabilization program

5th troika review of Greece’s stabilization program
Dr. Platon Monokroussos Dr. Platon Monokroussos, Assistant General Manager, Head of Financial Markets Research Division at Eurobank Ergasias S.A., and his team prepared an interesting report / analysis titled: Greece Macro Monitor (14 November 2013). Pls lease log on at the end of this preamble on the...
November 14th, 2013 | Banking, Finance, Politics and Government | Read More

Market survey on eco-shipping: innovation boost from eco-ships and retrofitting

Market survey on eco-shipping: innovation boost from eco-ships and retrofitting
In spite of the crisis shipping companies are proactively focus-sing on building new eco-ships and retrofitting Shipping companies demanding clear commitment to de-pendable international emission regulations  Market split between differing charter rates for modern eco-designs and older standard ones...
November 14th, 2013 | Energy, Environment, Shipfinance, Technical, Technology | Read More

DVB Group publishes results for the period ending on 30 September 2013

Wolfgang F. Driese, CEO and Chairman of the Board of Managing Directors DVB Group publishes results for the period ending on 30 September 2013: Consolidated net income before taxes of €96.2 million (down 7.8%), due to a non-recurring effect in the previous year Frankfurt/Main, 14 November 2013 –...
November 14th, 2013 | Banking, Finance, Shipfinance | Read More

We are in Shipping because we love it!*

We are in Shipping because we love it!*
www.allaboutshipping.co.uk brings you live some of the best and important international news from week 45 and the beginning of week 46, this Monday the 11th of November 2013, Armistice Day from London. The successful World Travel  Market, one of the best ever, a real boost for international tourism...
November 11th, 2013 | Academia, Banking, Books, Charity, Clubs, Conferences, Seminars, Forums, Corporate Social Responsibility, Energy, Environment, Events, Exhibitions, Holidays, HR, IMIF, IMO, Insurance and Reinsurance, Maritime Education and Training, Markets, News, Organisations, People and Places, Piracy and Terrorism, Politics and Government, Ports & Terminals, Press and Media, Scholarships, Shipmanagement, WISTA - Women in Shipping | Read More