Finance

  • Seaspan granted $1bn credit facility by China...

    Seaspan Corporation has announced that it has signed a framework cooperation agreement with the China Exim Bank for up to $1bn in export credit facilities. The credit facilities support Seaspan’s purchase of vessels from Chinese shipyards within the next three years.

  • CSSC (Hong Kong) Shipping to finance Yuanheng Gas

    CSSC (Hong Kong) Shipping Company, a shipowning subsidiary of China State Shipbuilding Corporation (CSSC), has agreed to jointly provide USD10 million in finance for Hong Kong-listed Yuanheng Gas, a LNG supplier and trader.

  • Changes afoot for Indian ship finance

    India could face a dramatic change to its ship financing landscape with the Export-Import Bank of India planning to establish a Maritime Financing Facility (MFF) at the International Financial Services Centre (IFSC) in Ahmedabad, in association with commercial banks. The move is intended to get Indian shipping firms to go for special purpose vehicles (SPVs) when financing deals.

  • DryShips to wind down

    DryShips has confirmed plans to sell its remaining fleet, with vessels yet again shifting to founder George Economou's private account.

  • China’s new economical reality not impacting...

    The past couple of weeks have been all about China, when it comes to global financial headlines, as concerns have been rising on whether the current crisis is more than a temporarty blip, before normal service is resumed. In its latest weekly report, London-based shipbroker Gibson noted on China that “certainly, Chinese manufacturers have lost their appetite for commodities which has impacted heavily on demand for coal, iron ore and copper with an obvious impact on the dry cargo market. Some Chinese policymakers call the slowdown “the new normal” and that they have overseen the smooth transition in annual growth from 10 per cent to a still impressive 7 per cent. 

  • Höegh LNG raises cash for more FSRUs

    Höegh LNG has raised NOK844m ($100m)in gross proceeds through an oversubscribed private placement of 6,920,000 new common shares, each with a par value of $0.01 at a subscription price of NOK122 per share.

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Shell investors back $50 billion BG takeover

Royal Dutch Shell shareholders approved its $50 billion takeover of BG Group on Wednesday, clearing the last main hurdle to creating the biggest liquefied natural gas (LNG) trader in the world.

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GE wins $328m Iraq power grid deal

Iraq has agreed to a deal with General Electric Company (GE) worth about $328 million to boost electricity production by 1,000 MW, an electricity ministry spokesman said on Monday.

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