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Finance News

Alternative way to Finance Decarbonization of ShippingAlternative way to Finance Decarbonization of ShippingZeroLab by Klaveness is certain that insetting will be an important tool to speed up decarbonization and is pleased to announce its first collaboration in this area.01 June 2021 Tuesday 15:02
Rigs report: Equinor set to drill new wells at Martin LingeRigs report: Equinor set to drill new wells at Martin LingeShallow water drilling activity in the North Sea and Middle East slipped during week 37 2020, pushing the number of contracted global jack-up rigs to 323 and ending a string of four consecutive weeks of positive gains09 September 2020 Wednesday 17:0
Small tankers prominent on promising orderbookSmall tankers prominent on promising orderbook“Small builders are playing a role in the recovery of shipbuilding,” noted BRL Shipping Consultants in its BRL Weekly Newbuilding Contracts report09 September 2020 Wednesday 11:0
Panama Canal extends temporary relief measures for customers to end of 2020Panama Canal extends temporary relief measures for customers to end of 2020As the Covid-19 pandemic continues to impact the global economy, the Panama Canal will extend its temporary relief measures to the end of the year offering further support for the industry’s recovery.26 August 2020 Wednesday 17:00
Covid-19 throttles offshore vessel salesCovid-19 throttles offshore vessel salesWith Covid-19 injecting market uncertainty among buyers and sellers, offshore support vessel S&P transactions in 2020 have dipped 33% from levels experienced over the last two years24 August 2020 Monday 11:20
More Australian IMR work for DOF SubseaMore Australian IMR work for DOF SubseaNorwegian OSV owner DOF Subsea secured two contracts to support offshore oil and gas projects in the Asia Pacific (APAC) region, including an inspection, maintenance and repair (IMR) contract with Chevron Australia12 August 2020 Wednesday 13:40
Euronav benefits from outstanding large tanker marketEuronav benefits from outstanding large tanker marketBelgium and US dual-listed public limited company Euronav commands the only large tanker fleet within the Low Countries and has had a remarkable 2020 to date07 August 2020 Friday 15:10
India delays implementation of SCMTR rulesIndia delays implementation of SCMTR rulesImplementation of the India Sea Cargo Manifest and Transhipment Regulations (SCMTR), will now be delayed until 30 September 2020 according to a statement issued by India’s Ministry of Finance.07 August 2020 Friday 14:43
MAN Energy Solutions reducing job cuts to 2,600 in restructuringMAN Energy Solutions reducing job cuts to 2,600 in restructuringMAN Energy Solutions (MAN ES) has agreed with employee representatives to cut the number of job losses in planned restructuring in return for concessions on labour costs.05 August 2020 Wednesday 14:55
Onex Group set to take over Elefsis ShipyardOnex Group set to take over Elefsis ShipyardThe takeover process was quickly taken a step further when a majority of former shareholders of the Onex Group-controlled Neorion SA, which controls the Eleusis-based Elefsis Shipyard and the Neorion yard on Syros, agreeing to sell their stake.30 July 2020 Thursday 13:00
Shipping lending dips to lowest level in over a decade, BNP Paribas largest portfolioShipping lending dips to lowest level in over a decade, BNP Paribas largest portfolioAt the beginning of 2020 lending to shipping by the world’s top 40 ship financers was at its lowest level in more than a decade and global ship finance is expected to remain constrained in 2020/2021 in the absence of new positive factors.21 July 2020 Tuesday 16:00
Use of Lloyd’s Open Form contracts ‘at historic low’: ISUUse of Lloyd’s Open Form contracts ‘at historic low’: ISULatest International Salvage Union statistics for 2019 show that while ISU members’ business held up well in 2019, use of Lloyd’s Open Form (LOF) ‘no cure, no pay’ contracts dropped to an all-time low.14 July 2020 Tuesday 09:48
Panama Ship Registry grows 4.1% under new administrationPanama Ship Registry grows 4.1% under new administrationThe Panama Ship Registry has grown by 4.1% during the first year of its new Administration.13 July 2020 Monday 11:00
Shipping banks better prepared than in 2008Shipping banks better prepared than in 2008Banks are better prepared than in 2008, to face the challenges that are looming post-coronavirus but that an increase in non-performing loans is an inevitable as a result of the pandemic, according to XRTC Business Consultants.08 July 2020 Wednesday 12:00
Maersk acquiring KGH Customs Services in $279m dealMaersk acquiring KGH Customs Services in $279m dealAP Moller – Maersk is acquiring Swedish trade and customs management specialist KGH Customs Services.06 July 2020 Monday 14:04
Bank lending to Greek shipowners remains steady at $53.1bnBank lending to Greek shipowners remains steady at $53.1bnFallout from the Covid-19 pandemic has had a strong impact on banks and non-bank lenders to the shipping industry, and despite the ongoing upgrading of the Greek fleet lending to Greek shipowners remains pretty much steady.27 June 2020 Saturday 14:10
Greek shipowners committed to implementing US sanctionsGreek shipowners committed to implementing US sanctionsThe Union of Greek Shipowners (UGS) remains committed to implementing US sanctions and urges members to refrain from conducting any business with Venezuela until there is a change in that country’s regime.17 June 2020 Wednesday 12:40
Oman Shipping Co signs $35m sustainable finance dealOman Shipping Co signs $35m sustainable finance dealOman Shipping Company (OSC), a member of ASYAD Group, has agreed a sustainable financing deal described as the first of its kind both in Oman and for Standard Chartered Bank in the Middle East.13 June 2020 Saturday 10:38
Greece aims to build on Chinese cooperation in Piraeus portGreece aims to build on Chinese cooperation in Piraeus portGreece is determined to build on the success of the Chinese presence in Piraeus port, with the Greek government continuing with unfaltering commitment to enhance cooperation with China, Greece's Development and Investments Minister, Adonis Georgiadis said10 June 2020 Wednesday 23:20
Transocean Is The Decade’s Biggest LoserTransocean Is The Decade’s Biggest LoserWith COVID19 wreaking havoc in the stock market, you might think that travel or tourism stock might be the biggest losers of the past decade. But, according to a new report by Kiplinger, we are technically still in an eleven-year bull run.16 May 2020 Saturday 10:00
South Korea pledges $1bn to support ailing shipping sectorSouth Korea pledges $1bn to support ailing shipping sectorThe South Korean government has pledged a hefty KRW1.25trn ($1bn) to support the country’s ailing shipping industry severely impacted by the coronavirus (COVID-19) outbreak.27 April 2020 Monday 11:20
Russian-state oil trader added to US OFAC listRussian-state oil trader added to US OFAC listThe Swiss-based crude oil trading arm of Russia-backed Rosneft has been added to the US OFAC sanction list. US companies and citizens have until 20 May 2020 to unwind contracts26 February 2020 Wednesday 15:05
Global LNG demand hits record 359M tonnesGlobal LNG demand hits record 359M tonnesGlobal demand for LNG grew by 12.5% to 359M tonnes in 2019, with Japan, China and South Korea accounting for 50% of the market, according to Shell’s annual LNG Outlook22 February 2020 Saturday 16:04
Competition concerns sink offshore accommodation mergerCompetition concerns sink offshore accommodation mergerA merger that would have created the world’s largest accommodation vessel owner has been called off by Stavanger-based Prosafe and Bermuda-headquartered Floatel International Ltd19 February 2020 Wednesday 15:58
Excluding UK from North Sea wind forum 'makes no sense'Excluding UK from North Sea wind forum 'makes no sense'The UK – which has the largest offshore wind industry in the world – has been excluded from a European forum that supports and facilitates the development of energy and offshore grids in the North Seas17 February 2020 Monday 12:10
Third New ECO VLCC Delivered to Hunter TankersThird New ECO VLCC Delivered to Hunter TankersHunter Tankers, a part of Hunter Group ASA, took delivery of the newbuilding very large crude carrier (VLCC) Hunter Laga on November 1.04 November 2019 Monday 10:03
Box ships dominate Panama Canal's record tonnageBox ships dominate Panama Canal's record tonnageThe Panama Canal has closed the 2019 fiscal year (FY2019) with record tonnage – and the container ship sector continues to dominate12 October 2019 Saturday 16:00
POSH makes US$680M bet on harbour workboatsPOSH makes US$680M bet on harbour workboatsOne of the largest owners of offshore support vessels in Asia is spending US$680M to diversify into harbour vessel services11 October 2019 Friday 17:30
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