Archive for the ‘Shipfinance’ Category

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

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, 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’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

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

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…

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

Greek shipping: a lot yet has to be done to safeguard its top position

Greek shipping: a lot yet has to be done to safeguard its top position
John Faraclas’ latest interview and commentary last Friday the 7th of September to Lilian Margaritis and Vassilis Tsekouras of SBC TV on the entire Greek shipping industry’s issues: ships – both ocean going and coastal ones including ferries, shipping and stock markets, maritime tourism, ports...
September 8th, 2012 | Environment, HR, Markets, News, Politics and Government, Ports & Terminals, Shipbuilding and Shipyards, Shipfinance | Read More

HSH Nordbank’s first-half results strained by worsening shipping crisis

Group net income of EUR 70 million as of the end of June Progress made in the Core Bank’s client business reflected in substantial growth in new business. Heavy strain exerted by further deterioration in shipping, substantial increase in loan-loss provisions No swift improvement expected in...
September 1st, 2012 | Finance, Shipfinance | Read More

Shipyards saga in Greece continues, but Greeks can do it if…..!

Shipyards saga in Greece continues, but Greeks can do it if…..!
We continue our reporting with the shipyard saga in Greece following governmental announcement/appointment of a coordinator project planner… Indeed the Greeks can do it if the right persons are appointed to do the job! As you all know, Nicholas Anastasopoulos, former CEO of the Piraeus Port Authority...
August 20th, 2012 | Airline Industry, Breaking News, Coastal Shipping, Energy, Flags, Jobs, Manning - Seafarers and Offshore, Oil Platforms and Rigs, Politics and Government, Ship Conversions, Shipbuilding and Shipyards, Shipfinance, Shiprepair, Tourism | Read More

DVB Group posts a marked increase in consolidated net income before IAS 39 and taxes for the first half of 2012

Wolfgang Driese DVB increased its consolidated net income before taxes (and excluding net result from financial instruments in accordance with IAS 39) by 36.6%, to €91.1 million (H1 2011: €66.7 million). Wolfgang F. Driese, CEO and Chairman of the Board of Managing Directors, commented on DVB’s...
August 8th, 2012 | Banking, Finance, Shipfinance | Read More

Emporiki Bank’s successful Posidonia reception

Emporiki Bank’s successful Posidonia reception
Andreas Bagias, Theodore Polydoros, Panagiotis Tsafaras, Nicholas Embeoglou, Lilian Evgenides and Despina Keramioti At the Arion complex of the Astir Palace, on the Vouliagmeni beach resort south of Athens, next to the Westin where the AllAboutShipping team was attending earlier on the Korean Shipbuilders’...
June 8th, 2012 | Events, Shipfinance | Read More

Ship Financing – or lack thereof – under Posidonia Spotlight

Ship Financing – or lack thereof – under Posidonia Spotlight
Jean Richards A few days after Aggelikousis Group’s US$1.25 billion credit facility with six banks for the financing of nine LNG carriers was made public, delegates of a shipbuilding conference held during the fourth day of this year’s Posidonia Exhibition heard that increasing defaults on existing...
June 7th, 2012 | Conferences, Seminars, Forums, Shipfinance | Read More

RBS steals the opening Posidonia show

RBS steals the opening Posidonia show
Lambros Varnavides head of Shipping, Andy Georgiou RBS' Coutry Manager and Fotis Bratimos, head of Shipping Piraeus greeting incoming guests Never ever before a Bank could have a “brigade” of guests in a buffet reception, particularly at Posidonia; but the Royal Bank of Scotland did! On a promising...
June 7th, 2012 | Events, Shipfinance | Read More

Engagement of China’s banks with shipping industry discussed at key conference

Engagement of China’s banks with shipping industry discussed at key conference
H.E. Liu Xaioming, Ambassador of the People's Republic of China to the United Kingdom of Great Britain and Northern Ireland delivering his welcome speech Last Tueday 15th May 2012, the finance and shipping industry came together for the China Money & Ships conference held at Haberdashers’ Hall,...
May 17th, 2012 | Conferences, Seminars, Forums, Shipfinance | Read More

DVB’s consolidated net income before IAS 39 and taxes as at 31 March 2012 only down slightly year-on-year

DVB’s consolidated net income before IAS 39 and taxes as at 31 March 2012 only down slightly year-on-year
Wolfgang F. Driese Consolidated net income before IAS 39 and taxes declined slightly to €37.1 million for the first quarter of 2012, down 6.3% year-on-year (Q1 2011: €39.6 million). Wolfgang F. Driese, CEO and Chairman of the Board of Managing Directors, commented on DVB’s quarterly results: “As...
May 15th, 2012 | Banking, Shipfinance | Read More

Cecon ASA – Agreement with Export Development Canada

Cecon ASA has received an acceptance from Export Development Canada (EDC)  for Cecon ASA’s proposal to acquire the rights in the USD 200 million EDC financing received by Cecon ASA February 2009.   Cecon ASA will proceed to negotiate a final purchase and sale agreement whereby EDC will sell their...
April 24th, 2012 | Markets, Shipbuilding and Shipyards, Shipfinance | Read More

Shipping not properly prepared for uncomfortable bank meetings

Paul Edwards INTERNATIONAL accountant and shipping adviser Moore Stephens has warned that some shipping companies are not adequately prepared to conduct successful negotiations with their banks which are likely to occur with increasing frequency. Paul Edwards, a Moore Stephens corporate finance director,...
April 19th, 2012 | Accountancy, Shipfinance | Read More

HSH Nordbank achieves fresh start under difficult market conditions

HSH Nordbank achieves fresh start under difficult market conditions
Introduction of a new business model and positioning as a ’bank for entrepreneurs’ launched on the market following conclusion of the EU state aid proceedings Positive feedback from clients: new business and cross-selling significantly increased Net income before restructuring improved to EUR...
March 23rd, 2012 | Banking, Shipfinance | Read More