Singapore-listed First Ship Lease Trust (FSL Trust) has received a mandatory conditional cash offer of SGD0.0585 per unit for all its outstanding units from a group of investors led by Prime Marine’s Efstathios Topouzoglou.

China Ocean Industry Group disposing of a 60% equity interest in Nantong Huakai Heavy Industry Company at a price of RMB20m ($2.88m).

With a total asset value of some $105bn bank financing to Greek shipping continues to contract, but at a slower rate.

Singapore-listed First Ship Lease Trust (FSL Trust) has been placed on a ‘watch-list’ on Thursday by the Singapore Exchange (SGX) relating to the Minimum Trading Price (MTP) rule.

Nasdaq-listed Euroseas has signed an agreement to purchase four secondhand vessels and refinanced two vessels to free up cash.

Prosafe and Floatel International have entered into a merger agreement to create a bigger company to ride through the prolonged industry downturn and challenging operating landscape for offshore accommodation.

Embattled Swiber Group has survived a liquidation scenario after its creditors voted on 29 May in favour of implementing a restructuring with equity investment from New York-listed Seaspan Corporation.

Star Bulk Carriers is continuing to expand acquiring the fleet of 11 vessels owned by Delphin Shipping LLC for $139.5m in a cash and equity deal.

Alternative investment firm Vӓrde Partners and a subsidiary of Chinese industrial company Landbridge Group have concluded a sale and lease back deal on a VLCC.

Debt-ridden Swiber Group is looking at a potential restructuring following a rescue deal dangled by New York-listed Seaspan Corporation, and judicial managers have urged creditors to say ‘yes’ to the proposed restructuring.

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