Commentary: Proposals for post-programme Greece
By John Mourmouras in Athens
After eight years of hardship, Greece is finally emerging with renewed optimism. Although the international economic environment is relatively volatile at the moment, I have long believed that the Greek case is manageable for an exit from the memorandums of understanding in late August without a precautionary credit line. Policy-makers must focus on conditions for Greece to achieve a sustainable return to capital...
Andreas Sohmen-Pao’s BW LPG has pulled out of a proposed $1.1bn merger with rival Dorian LPG after months of back and forth bickering between the pair. Citing “Dorian’s continued refusal to give a meaningful response to BW LPG’s outstanding proposal, engage in constructive two-way discussions, or...
Singapore’s Keppel Offshore & Marine has announced that Stolt-Nielsen Gas has exercised options at subsidiary Keppel Singmarine for two additional small-scale dual fuel LNG carriers. The options, worth around S$105m ($75.9m), were part of a contract signed in May 2017 for two firm and three...
https://splash247.com/stolt-nielsen-exercises-options-for-lng-carrier-pair-at-keppel/
Jaldhi has been revealed as the buyer of a pair of Japanese MR tankers, sold by JX Ocean last month for a total of $30m. Brokers reported the sale of the two 2009-built 46,000 dwt MR tankers, and , last month. Lorentzen & Stemoco had identified the buyer as Danish owner Celsius, while other brokers...
Singapore’s Swiber Group has been saved by Seaspan, the Canadian containership operator, which is making what it says will be a one-off investment in the offshore business, investing $200m in the struggling offshore firm. New York-listed Seaspan surprised the markets yesterday inking a binding term...
https://splash247.com/seaspan-rescues-swiber-with-200m-investment/
Singaporean container ship operator Pacific International Lines Ltd (PIL) announced collaboration with IBM Singapore (IBM) in another blockchain trial to design and create an electronic bill of lading aimed at enhancing the documentation process in supply chain management.
The PIL-IBM collaboration was supported by Maritime and Port Authority of Singapore, Singapore Shipping Association, Infocomm Media Development Authority, Singapore Customs (National Trade Platform), and Bank of China Limited...
https://safety4sea.com/pil-ibm-step-up-cooperation-for-electronic-bill-of-lading/
SINGAPORE, Oct 3 (Reuters) – Singapore authorities are taking measures to ensure the availability of low-sulphur marine fuels ahead of upcoming emissions regulations in 2020, Singapore’s Senior Minister of State for Transport and Health Lam Pin Min said on Wednesday. “(The) MPA is working closely...
Malaysian offshore shipbuilder Nam Cheong has completed its debt restructuring exercise, implementing the proposed schemes of arrangement. The restructuring of the group’s debt with trade creditors resulted in the waiver of debts amounting to RM557.5m ($134.7m). Nam Cheong has also raised S$22m...
https://splash247.com/nam-cheong-completes-debt-restructuring/
Pacific International Lines (PIL) has got an old friend to come in and buy its shares in subsidiary Singamas, the world’s second largest manufacturer of containers. Sources in China tell Splash that Cosco has tabled a bid to take Singamas off PIL’s books, providing some cash for the containerline,...
On Tuesday morning, a train loaded with auto parts and paper products thundered out of a station in southwest China’s Chongqing Municipality, heading for a port in southern China, where the goods will be further shipped across the sea to Southeast Asia.
It was the 356th freight train since the launch of the China-Singapore rail-sea transit route on the same day a year ago, which further connects 116 ports in 60 countries and regions.
Thanks to the route, agricultural products, auto and motorcycle...