HSH Nordbank begins 2013 with a positive quarterly result

Group net income of EUR 73 million Total earnings significantly increased to EUR 417 million Core Tier 1 capital ratio reaches 10 percent New business proves the progress made in realigning the Bank Chairman of the Management Board Constantin von Oesterreich: “The progress made in implementing our...

May 23rd, 2013 | Banking, Finance, Shipfinance | Read More

DVB Bank to strengthen its Board of Managing Directors

Ralf Bedranowsky The appointment of Ralf Bedranowsky (54) will strengthen DVB Bank’s management team with effect from 1 July 2013 or an earlier date. The Bank’s Supervisory Board has passed the respective resolution. Ralf Bedranowsky joins from Deutsche Bank, where he has been responsible...

April 15th, 2013 | Shipfinance | Read More

Expansion of new business substantiates positive trend of HSH Nordbank

Core Bank generating operating profit – new business up 45 per cent Margins improved with attractive risk/return profiles Earnings before restructuring at EUR 160 million Heavy charges from special items and loan loss provisioning for ship finance – consolidated loss of EUR -124 million Core...

April 11th, 2013 | Banking, Finance, Shipfinance | Read More

Shipping Markets: caution, discipline and dignity above all.

John N. Faraclas The following are the main points – in brief – from the latest John Faraclas live interview to Panos Thomakos on SBC TV last Friday the 5th of March 2013: 1)Faraclas started with the weather as an important factor stressing the fascinating result of the favorable Gulf Stream for...

April 9th, 2013 | Banking, News, Politics and Government, Shipbuilding and Shipyards, Shipfinance, Stock Markets, Strikes | Read More

Leadership the name of the game!

The following are the main points – in brief – from the latest John Faraclas live interview from the Camelot Castle Hotel in Tintagel, Cornwall, to Panos Thomakos on SBC TV last Friday the 29th of March 2013: Faraclas started with a cultural and touristic note supporting also the Anglo-Saxon’s...

April 2nd, 2013 | Banking, Bribery and Corruption, European Union, Finance, Holidays, Jobs, Markets, News, Politics and Government, Shipfinance, Taxation | Read More

What next after the Cyprus saga?

John N. Faraclas So who’s next after the recent Greek and Cypriot tragedies? Aeschylus revisited says quite a lot! by John Faraclas The under duress latest Greek and Cypriot fiascos will continue for the foreseeable feature until the perpetrators of this new geopolitical and geostrategic game fall...

March 25th, 2013 | At the end of the day..., Banking, European Union, Finance, Marine Insurance, Politics and Government, Shipfinance | Read More

How do you see the Financial Markets?*

John Faraclas How do you see the Financial Markets?* By John Faraclas One issue bothering humanity, affecting the economy, conversely shipping is that of the Financial markets. The US, Japan, UK and to a less extent Europe, follow the same policy of unlimited monetary accommodation. Currency debasement...

March 18th, 2013 | Banking, European Union, News, Politics and Government, Shipfinance, Trade and Commerce | Read More

DVB posts consolidated net income before IAS 39 and taxes of EUR157.2 million – a 9.7% increase

Bertrand Grabowski, Wolfgang F. Driese and Dagfinn Lunde Frankfurt/Main, 7 March 2013 – DVB increased total income before allowance for credit losses by 5.1%, to EUR411.9 million (previous year: EUR391.9 million). Total income after allowance for credit losses amounted to EUR341.2 million, which corresponds...

March 8th, 2013 | Banking, Finance, News, Ship Finance, Shipfinance | Read More

Ship owners left floundering as the big banks shrink from financing new projects, and IMIF hears that the market is struggling for answers

Alan McCarthy, Jim Davis, Jean Richards and Shreyas Chipalkatty Ship owners left floundering as the big banks shrink from financing new projects, and IMIF hears that the market is struggling for answers Hopes remain desperately slim for any early easing of the credit squeeze on ship owners, it became...

February 25th, 2013 | Associations, Breaking News, Conferences, Seminars, Forums, Energy, Environment, Events, Shipfinance | Read More

World Shipping: Divefall? – Greek Shipping and Politics: Still in a mess!

John Faraclas World Shipping: Divefall? – Greek Shipping and Politics: Still in a mess! The following are the main points from the latest John Faraclas live interview to Panos Thomakos on SBC TV last Friday the 22nd of February 2013: 1. On the Markets, Faraclas, following Moundreas’ weekly video...

February 25th, 2013 | Banking, Coastal Shipping, European Union, Finance, Holidays, Logistics, Marinas, News, Politics and Government, Port Conditions, Ports & Terminals, Shipfinance, Shipping Indices, Stock Markets, Trade and Commerce, Yachting | Read More

The BankServe Guide 2013

The Insurance Aspects of Shipping and Offshore Financing, by Graham Barnes and edited by Peter Mellett This 200 plus page guide is one of the very few that can greatly minimise your shipping and offshore financing risks to all intents and purposes. This is the second edition of the Bankserve Guide to...

February 23rd, 2013 | Banking, Books, Insurance and Reinsurance, Legal, Marine Insurance, Maritime Accidents, Maritime Fraud, News, Oil Platforms and Rigs, Reports, Safety and Security, Shipfinance, Shipmanagement, Stock Markets, Trade and Commerce | Read More

S. Riaz Khan takes new direction after twelve years at DVB Bank

S.Riaz Khan S. Riaz Khan, Managing Director of Research & Strategic Planning for DVB SE, will leave the shipping expertise bank at the end of March 2013. Riaz’ mission when he joined the Bank in Rotterdam twelve years ago was to set up and establish a shipping research department, which has been...

February 19th, 2013 | Banking, Finance, People and Places, Shipfinance | Read More

Greek Shipping: get your act together! All sectors and stakeholders must come to their senses; politicians and unions first!

John N. Faraclas The following are the main points from the latest John Faraclas live interview to Panos Thomakos on SBC TV last Friday the 8th of February 2013: 1. On the Markets, Faraclas and following Moundreas’ weekly video on the state of the market- chartering, S & P, as well as the shipbuilding...

February 11th, 2013 | Associations, Bribery and Corruption, Coastal Shipping, Disputes, Energy, Labour Disputes, Logistics, Maritime Tourism, Markets, News, Ocean Shipping, Organisations, Politics and Government, Ports & Terminals, Press ans Media, Safety and Security, Sales and Purchases, Shipbuilding and Shipyards, Shipfinance, Shipping Indices, Short Sea Shipping, Stock Markets, Strikes | Read More

EURONAV Launches offer to exchange outstanding 6.50% convertible bonds for new convertible bonds with extended maturity

Antwerp, Belgium, 31 January 2013 – Euronav NV (“Euronav”) announced today the launch of an invitation to current bondholders to exchange (the “Exchange Offer”) any and all outstanding 6.50% convertible bonds due in January 2015 (the ”Existing Convertible Bonds”) for new 6.50% convertible...

February 1st, 2013 | Finance, Shipfinance, Stock Markets | 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 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 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

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

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

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 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…

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

Matthias Wittenburg appointed new Management Board member in charge of Products and Capital Markets

Matthias Wittenburg The HSH Supervisory Board today appointed Matthias Wittenburg (44) for three years to the Bank’s Management Board responsible for Products and Capital Mar-kets. Mr. Wittenburg will take up his new position on 1 January 2013. Torsten Temp, Management Board member responsible...

October 12th, 2012 | Shipfinance | Read More