Archive for the ‘Banking’ Category

HSH Nordbank makes freight cost risks in container shipping manageable

  Container forward freight agreements offer protection against the heavy volatility of freight rates in ocean transport Container importers, logistics companies and liner shipping com-panies benefit in equal measure Already high level of acceptance and sharp rise in demand Focus on Hamburg...
January 15th, 2013 | Banking, Chartering | Read More

Hilmar Kopper steps down from the Supervisory Board

HAMBURG/KIEL The Chairman of HSH Nordbank’s Supervisory Board, Hilmar Kopper, is to stand down from his post by no later than 28 February 2013. Mr. Kopper had communicated his decision in writing to the Bank’s Chairman of the Management Board, Constantin von Oesterreich, in mid-December of...
January 11th, 2013 | Banking, Company Profiles | Read More

HSH Nordbank receives the “M & A Deal of the Year” award

HSH Nordbank receives the “M & A Deal of the Year” award
HAMBURG/KIEL HSH Nordbank is to be presented with the “M & A Deal of the Year” award at a ceremony organised by the international specialist periodical Project Finance International (PFI) in London on 30 January. Every year PFI selects the best project finance deals in the past year. HSH Nordbank...
January 10th, 2013 | Awards, Banking, Events | Read More

Supervisory Board renews Torsten Temp’s tenure on the Management Board for a further three years

HAMBURG/KIEL At its meeting today, the Supervisory Board of HSH Nordbank renewed Torsten Temp’s tenure as the member of the Management Board responsible for the market to 30 April 2016. Mr. Temp has been a member of HSH Nordbank’s Management Board since 1 May 2010. He is in charge of the...
January 9th, 2013 | Banking | Read More

Supervisory Board secures its claims for repayment against Prof. Dr. Dirk Jens Nonnenmacher in the event of a conviction

HAMBURG/KIEL The Supervisory Board of HSH Nordbank today approved an amendment to the Termination Agreement concluded with Prof. Dr. Dirk Jens Nonnenmacher on 15 December 2010. According to this agreement, Prof. Dr. Dirk Jens Nonnenmacher must reimburse the payments received under his Termination Agreement...
January 9th, 2013 | Banking, Bribery and Corruption | Read More

Epic Shipping Holdings Limited and Pantheon Inc., merge to form E-P Gs LPG Shipping Company

Epic Shipping Holdings Limited and Pantheon Inc. jointly announced the completion of their merger to form Epic Pantheon International Gas Shipping Ltd.  E-P Gas operates a fleet of 22 modern, 3, 200 cbm to 7, 200 cbm, fully-pressurized gas carriers with complete in-house technical and commercial management...
January 7th, 2013 | Shipfinance | Read More

Diana’s Kamsarmax new acquisition

Diana’s Kamsarmax new acquisition
 DIANA SHIPPING INC.  announces the acquisition of a new-building Kamsarmax dry bulk carrier – Signing and drawdown of  a US$ 20 million term loan facility with Nordea Bank ATHENS, GREECE, December 21, 2012 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership...
December 22nd, 2012 | Ocean Shipping, Shipbuilding and Shipyards, Shipfinance, Stock Markets | Read More

DVB closed USD358.6 million sale and lease back transaction for China Shipping and CDB Leasing

DVB closed USD358.6 million sale and lease back transaction for China Shipping and CDB Leasing
DVB Bank SE (“DVB”), the Frankfurt-based bank which specialises in transport finance, closed the USD358.6 million sale and lease back transaction of a portfolio of maritime containers for China Shipping Container Lines (“CSCL”) and CDB Leasing (“CDBL”). The portfolio...
December 22nd, 2012 | News, Shipfinance | Read More

EU Commission Approves € 100 Million Aid for the Port of Augusta

EU Commission Approves € 100 Million Aid for the Port of Augusta On 20 December, the European Commission approved €100 million financial support for the Port of Augusta, in Sicily under EU state aid rules. The aid will be granted by Italy for an infrastructure investment project of €145, 33 million,...
December 21st, 2012 | European Union, Finance, Ports & Terminals | Read More

New US$ 300 million revolving credit facility for CMB/Bocimar

CMB has signed a USD 300 million senior secured reducing revolving   credit facility with DNB Bank ASA and Nordea Bank Norge ASA as lead   arrangers and bookrunners, Belfius Bank nv/sa, Fortis Bank sa/nv, KFW   IPEX-Bank GmbH and Skandinaviska Enskilda Banken AB (publ) as lead   arrangers and ABN...
December 18th, 2012 | Shipfinance | Read More

US authorities settle sanctions and money laundering charges with two foreign banks

On 10 December 2012, the US Office of Foreign Assets Control (OFAC) announced a USD 132 million settlement with Standard Chartered Bank (SCB) for apparent violations of US sanctions. The following day, OFAC announced a USD 375 million settlement with HSBC Holdings (HSBC), also for apparent violations...
December 13th, 2012 | Banking, Legal | Read More

HSH Nordbank finances another large solar farm in France

Lars Quandel HAMBURG/KIEL For the sixth time this year HSH Nordbank has successfully provided finance for a solar farm in France: the Pompogne portfolio consists of four sub-farms in the region of Aquitaine, near Bordeaux and the Atlantic coast, and was arranged and structured together with BayernLB....
December 13th, 2012 | Energy, Finance | Read More

MOL Acquires Top Rating for SMBC Environmental Assessment Loan

MOL Acquires Top Rating for SMBC Environmental Assessment Loan
Hybrid car carrier Emerald Ace under way – Launched in June 2012. The solar panel capacity is 160kW, making it the largest such system installed on a ship. TOKYO—Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced that the company acquired the top rating for Sumitomo Mitsui...
December 12th, 2012 | Environment, News, Shipfinance | Read More

License Fee for OPTI

EXMAR has signed an agreement with the IFC (the WorldBank Group) and China EXPORT-IMPORT Bank for a financing facility of up to USD 280 million for its liquefaction barge to be built at Wison Heavy Industries and chartered to Pacific Rubiales Energy (TSX:PRE). EXMAR has been co-developing with PRE a...
December 5th, 2012 | Shipfinance | Read More

HSH Nordbank refinances for AAE large fleet of railway carriages

HAMBURG/KIEL HSH Nordbank is providing AAE Ahaus Alstätter Eisenbahn AG, a long standing client, with a major part of a refinancing. With these funds the Swiss company operates a fleet of 4, 830 freight carriages, which serve as the principal collateral for the financiers. In total, the transaction...
December 4th, 2012 | Finance, Logistics | Read More

Rickmers Group and Oaktree form strategic partnership for investments in newbuild container vessels

Hamburg, 3 December 2012 – Funds advised by Oaktree Capital Management, LP and the global shipping major Rickmers Group are joining forces to invest in eight plus eight eco designed newbuild container vessels. Oaktree Capital Management LP is a leading global investment management firm focused on alternative...
December 3rd, 2012 | Shipfinance, Shipmanagement, Trade and Commerce | Read More

HSH Nordbank refinances Newcastle Airport

HSH Nordbank closes second European airport finance deal within four weeks HAMBURG/KIEL HSH Nordbank is acting as one of the mandated lead arranger to pro-vide Newcastle Airport with approximately EUR 62 million to refinance existing bank liabili-ties. Ahead of this HSH Nordbank supported the airport’s...
November 26th, 2012 | Aviation, Finance | Read More

DVB Group: Sound operating performance during the first nine months of 2012 – Total income up 6.2%, to €262.7 million

Wolfgang F. Driese Consolidated net income before IAS 39 and taxes rose to €125.6 million – a remarkable 7.8% year-on-year increase. Once again, the volatile net result from financial instruments in accordance with IAS 39 weighed on income before taxes which – as a result – declined...
November 14th, 2012 | Finance | Read More

HSH Nordbank successfully places Schuldschein for HGV

Amount placed EUR 376 million Amount announced oversubscribed due to strong demand HSH Nordbank sole arranger HAMBURG/KIEL –HSH Nordbank has successfully carried out a Schuldschein (promissory note) transaction for HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmana-gement...
November 9th, 2012 | Finance | Read More

New HSH Nordbank solar project in France

 Long-term finance for 12 MWp solar park in Gironde region. HAMBURG/KIEL – This year HSH Nordbank has once again successfully obtained an order to finance renewable energy projects in France: The Bank has assumed the long-term fi-nancing of the “Solarpark de Béguey” with an output...
November 8th, 2012 | Energy, Finance | Read More

HSH Nordbank and UniCredit finance port operator in Rostock

HSH Nordbank and UniCredit finance port operator in Rostock
Dr. Marcus Kleiner HSH Nordbank and UniCredit are making available EUR 50 million as Senior Debt Facilities to SHRU Holding GmbH & Co. KG, the shareholder of Seehafen Rostock Umschlagsgesellschaft mbH. SHRU Holding, which forms part of the Euroports Group, is the leading company for cargo handling,...
November 7th, 2012 | Finance, News, Ports & Terminals | Read More

HSH Nordbank updates loan loss provision plan

Higher loan loss provisions required for legacy loans in the ship-ping business and increasing default rates in the coming years Bank’s Tier 1 capital ratio still above 9 percent Up to EUR 1.3 billion might be drawn down from the second loss guarantee between 2019 and 2025 Charges to be paid...
November 6th, 2012 | Shipfinance | Read More

CSR as Financial Advantage, or…

CSR as Financial Advantage, or…
  Karianne Tieleman at the podium delivering her speech …Do lenders (or investors) take CSR in consideration when evaluating a potential shipping transaction? Whilst the Recap of Capital Link’s successful 2nd Annual Shipping & Offshore CSR Forum: “CSR: Luxury or Necessity”...
November 2nd, 2012 | Conferences, Seminars, Forums, Corporate Social Responsibility, Markets, Shipfinance | Read More

Marine Money Athens 2012 – A twist in the tale

The Marine Money Greek conference was held in Athens on 17th October. With over 300 people in the audience, chatter and laughter at the coffee breaks and a wonderful closing party for 400 at a football stadium in the port of Piraeus, it was as if there was no crisis in shipping, let alone in Greece....
November 1st, 2012 | Shipfinance | Read More

Cross-Border Insolvency Update – A Breakthrough for Creditor Rights: Dismissal of a Chapter 15 Case

Cross-Border Insolvency Update – A Breakthrough for Creditor Rights: Dismissal of a Chapter 15 Case  Eaton & Van Winkle LLP recently achieved a major breakthrough for the protection of creditor rights in connection with cross-border insolvency proceedings. (For ease of reference, our February...
October 24th, 2012 | Banking, Legal | Read More