Finance

  • China Buys Up Strategic Sri Lankan Seaport As The...

    A deal between China and Sri Lanka over the Hambantota deep sea port may be done — finally. After nearly a year-long showdown that brought China and India into the ring and sparked tensions and even outright violence between the various facets of Sri Lanka’s political spectrum, the toboggle may now be over . . . at least on paper.

  • Chinese purchases of overseas ports top $20bn in...

    Beijing pushes ahead with spending and new shipping routes through Arctic circle. China is ramping up acquisitions of overseas ports as it expands its reach as a maritime power, doubling its investments over the past year to $20bn and pushing ahead with plans to open new shipping routes through the Arctic circle.

  • American National Insurance Co. TX Has $948,000...

    American National Insurance Co. TX held its position in shares of Ship Finance International Limited (NYSE:SFL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,700 shares of the shipping company’s stock at the end of the second quarter. American National Insurance Co. TX owned about 0.07% of Ship Finance International Limited worth $948,000 as of its most recent filing with the SEC.

  • “Finance friendly” France scores late points in...

    A government push to make France more “finance-friendly” is raising Paris’ chances of attracting Brexit-fleeing banks from London although it is raising its game at a late stage in the process, a group of senior financial industry executives said.

  • J.P. Morgan Global Alternatives Raises Nearly $...

    J.P. Morgan Asset Management today announced the closing of its Global Maritime Investment Fund II with $480 million in capital commitments from a broad range of international institutional investors, including pension plans, insurance companies, and endowment and health care entities.

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Danaos Corporation Announces Closing of Comprehensive Debt Refinancing

Danaos Corporation (the “Company” or “Danaos”) (NYSE: DAC), a leading international owner of containerships, is pleased to announce the consummation of its previously announced debt refinancing , significantly strengthening the Company’s capital structure and reducing its outstanding debt by approximately $551 million.

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GMS Week 32 – STASIS!

The stasis in the Indian sub-continent ship recycling markets continues, with no new sales to report and virtually no movement in prices. In fact, ever since levels declined by about USD 50/LDT during the second quarter of the year (leaving many Cash Buyers with unsold vessels stumped in the process), demand has subsequently (and expectantly) dipped during these traditionally quiet summer / monsoon months.

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Expert says no firm trend in bunker price movements next week

World oil indexes edged up at the start of the week on the implementation of the first round of sanctions on Iran but then turned into downward evolution. At the same time, fuel market is trying to balance two competing trends. The first, is that rising OPEC production and a growing global trade war will cause a demand surplus. The second, that strong demand and an increasing amount of supply disruptions will lead to a shortage of oil in global markets.

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Weeks Marine Bags 112.8 Million MsCIP Deal

Weeks Marine Inc., headquartered in Cranford, NJ, has won an $112.8 million contract for the Mississippi Coastal Improvements Program (MsCIP), comprehensive barrier island restoration plan and Ship Island Project – Phase Two.

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