Korea Ocean Business Corporation (KOBC), South Korea’s government-backed ship financing entity, has allocated KRW6.15trn ($5.4bn) funding for HMM’s business expansion. According to local reports, KRW3.15trn of the amount will be used to fund HMM’s recent order of 20 giant boxships at three domestic...
Finance and Insurance
Minsheng Financial Leasing makes VLCC debut
China’s Minsheng Financial Leasing has had a busy week, linked to more than $100m in multiple deals. Chatter about the growing financier started at the beginning of the week, when brokers put its name behind Mitsubishi’s sale of the its 81,000 dwt kamsarmax Sky Jade, the last price seen attached to...
https://splash247.com/minsheng-financial-leasing-makes-vlcc-debut/
Exmar refinances ten LPG vessels with sale and leaseback deal
Nicolas Saverys led Exmar has announced the refinancing of its entire fully-owned fleet of pressurised gas carriers. The refinancing is being done via several sale and leaseback deals with Japanese owners which see Exmar taking the vessels back for up to six years. The vessels are all currently...
https://splash247.com/exmar-refinances-ten-vessels-with-sale-and-leaseback-deal/
Scorpio Bulkers pockets $28m from refinancing of ultramaxes
Emanuele Lauro’s Scorpio Bulkers has been given a commitment by Nordea Bank and DVB Bank for a loan facility of up to $90m. The loan is being used to refinance up to 60% of the value of six ultramaxes, and will see Scorpio pocket around $28m after the repayment of the existing debt attached to […]
https://splash247.com/scorpio-bulkers-pockets-28m-from-refinancing-of-ultramaxes/
Cleaves buys Gersemi Research
Investment bank Cleaves Securities has acquired Gersemi Research and appointed the founder and CEO of Gersemi Research, Joakim Hannisdahl, as head of research. Cleaves Securities is a specialised investment bank focused primarily on the marine, energy and real estate sectors. Cleaves is a privately...
Pyxis Tankers refinances product tanker with loan from Blue Ocean Maritime
Greek owner Pyxis Tankers has refinanced the loan facility for 2015-built product tanker with EnTrustPermal’s Blue Ocean Maritime Income. After the repayment of existing bank debt, the new five-year secured loan provides Pyxis with proceeds of $7.3m. Valentios Valentis, chairman and CEO of Pyxis...
https://splash247.com/pyxis-tankers-refinances-product-tanker-with-loan-from-blue-ocean-maritime/
Scorpio Bulkers seals sale and leaseback of ultramax
Emanuele Lauro’s Scorpio Bulkers has sold 2016-built ultramax bulker for $20.5m, and will lease the vessel back on bareboat charter for five years. Scorpio will pay the unnamed buyer $5,850 per day for the charter and has options to repurchase the vessel after three years until the end of the...
https://splash247.com/scorpio-bulkers-seals-sale-and-leaseback-of-ultramax/
North P&I: Volatility and uncertainty are the new normal
Volatility and uncertainty are not necessarily what insurance executives want, yet for Paul Jennings, CEO of the North P&I Club, this is the new normal for businesses the world over, something that has required much adaptability in recent years. “Businesses across the globe are having to adapt to...
https://splash247.com/north-pi-volatility-and-uncertainty-are-the-new-normal/
Klaveness Combination Carriers raises $45m for newbuilds
Klaveness Combination Carriers has raised $45m via a private placement, funds which will be used to partly finance two vessels under construction at China’s Jiangsu New Yangzi. Major shareholder Klaveness Ship Holding invested $3.6m in the private placement, taking its ownership of the company to...
https://splash247.com/klaveness-combination-carriers-raises-45m-for-newbuilds/