With its Navigator Holdings stake sold, attention turns to Connecticut tanker owner and a change to its board
Finance
Digital shipping: Is data the new oil — or just snake oil?
TradeWinds webinar hears a plea for collaboration, but shipping players explain the need for companies to maintain their edge despite working together on tech solutions
GLOBAL & REGIONAL DAILY (Friday 18 December, 2020)
GLOBAL & REGIONAL DAILY (Friday 18 December, 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
December 18 2020
Global Markets
Congressional leaders are reportedly getting closer to an agreement on a Covid-19 relief stimulus package worth around $900bn. US stimulus hopes allowed global equities to retain an overall positive tone in spite of increased US/China tensions. In FX markets, the USD remained under pressure, with the DXY index dropping below 90 for the first time in the last 2 ½ years.
Greece
According...
https://allaboutshipping.co.uk/2020/12/18/global-regional-daily-friday-18-december-2020/
Treasury FXR struggles with realities of manipulation, DLT and the US payments system
Treasury FXR struggles with realities of manipulation, DLT and the US payments system
Commentary: Currency manipulation realities
By Mark Sobel in Washington
Under the Bush and Obama administrations, foreign exchange reports didn’t label any country a currency manipulator. Yet, the US Treasury Department has just named Switzerland and Vietnam as such. While its latest FXR includes valuable analysis about responses to Covid-19, its mechanistic application of ‘enhanced analysis’ criteria leads to...
Eagle Bulk in $25m equity raise to back two Scorpio additions
Stamford owner’s first equity raise in four years backstopped by core investor GoldenTree
Hamburg Commercial Bank sells € 700 million renewable energy portfolio to UniCredit
Hamburg Commercial Bank sells € 700 million renewable energy portfolio to UniCredit
HAMBURG – On 16 December 2020, Hamburg Commercial Bank (HCOB) and UniCredit Bank AG (UniCredit) signed an agreement on the sale of a loan portfolio of circa EUR 700 million. With this transaction, HCOB successfully continues its multi-year transformation to a smaller, operationally efficient commercial bank with reduced total assets and risk weighted assets.
The portfolio consists entirely of...
Shearwater seals $437m refinancing after WesternGeco takeover
Geophysical shipping company taps lenders for new facility over two and four years
Restructured Bourbon to sell or scrap more than 100 ships
Bank-owned offshore vessel giant has seen debt cut by more than $1.8bn, but still wants to reduce its vessel count
Seaspan selling $200m of bonds to fund potential acquisitions
Containership owner looking to diversify capital base at attractive price
Shedding light on China’s capital inflows, European Commission competition policy in Covid-19 recovery
Shedding light on China’s capital inflows, European Commission competition policy in Covid-19 recovery
Thursday 17 December 2020 – Vol.11 Ed.51.4
Commentary: Explaining China’s capital inflows
By Herbert Poenisch in Penang
This year has seen massive portfolio investment flows into China. According to the People’s Bank of China, foreigners increased their holdings of Chinese financial assets from January to September by $204bn. Of these, equities went up $94bn and debt securities $110bn. This has...