Finance News
South 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 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 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 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'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 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 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 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
Ireland, Wales and Cornwall plan floating wind foray in Celtic SeaA collaboration agreement outlining a commitment to work together to progress floating wind projects in the Celtic Sea has been signed by organisations in Ireland, Wales and Cornwall11 October 2019 Friday 17:23
Boluda focuses on fleet growth after €300M KST acquisitionThe world’s second-largest owner of tugs is looking for investment opportunities as it serves ultra-large container ships in European terminals05 October 2019 Saturday 11:12
Alternate view of IMO 2020's impact on the tanker marketThe general consensus is the tanker market will benefit from IMO 2020 but BIMCO has a different assessment: tanker demolition is slowing and ordering is on the rise21 September 2019 Saturday 12:25
UK auction sees further massive fall in cost of offshore windA total of 12 new renewable energy projects have won contracts for difference in the UK’s latest auction, including projects at a record low of £39.65/MWh (US$49.52)21 September 2019 Saturday 12:20
OSC Signs USD 110 Mn Loan to Refinance Five ShipsMuscat-based Oman Shipping Company (OSC) has agreed a new USD 110 million ship financing deal with banking and financial services company Standard Chartered.17 September 2019 Tuesday 10:27
Green ship finance climbs up the agendaAny shipping banker not considering green issues and climate concerns when weighing up a customer and a potential transaction is now under-performing.13 September 2019 Friday 13:12
Hyundai Merchant Marine Posts Q3 LossKorean carrier will “put its utmost efforts to stably secure additional cargoes” to fill the 20 ships on order.16 November 2018 Friday 17:31
Hapag-Lloyd More Than Doubled Its ProfitGerman container carrier Hapag-Lloyd more than doubled its bottom line in the third quarter compared to the same period last year. "We remain cautiously optimistic for the rest of the year," says CEO Rolf Habben Jansen.09 November 2018 Friday 09:39
Ship Finance International Buys 4 ContainershipsShip Finance International Limited has inked a deal to acquire four 14,000 TEU containerships in combination with long-term time-charters to an unrevealed container line.07 November 2018 Wednesday 11:05
Final Stage on The Canal Istanbul Project Almost CompletedThe studies of Canal Istanbul Project has carrying out at full steam. Cahit Turan, Minister of Transport and Infrastructure declared that the surveying studies of the Project is about the be finished.06 November 2018 Tuesday 19:10
Seanergy Maritime Holdings Refinances Two Capesize VesselsSeanergy Maritime Holdings announced that it has successfully completed the refinancing of a previous loan facility secured by M/Vs Lordship and Knightship.10 July 2018 Tuesday 13:45
