Singapore’s shipyard group Sembcorp Marine (Sembmarine) has landed a SGD2bn ($1.5bn) loan from its largest shareholder Sembcorp Industries to help reduce its debt.

The UAE Shipping Association (UAESA) is flagging up opportunities for international owners in the offshore sector from upcoming oil and gas projects.

Last year was one of contrasts for the ship finance sector as the once dominating German ship finance market continued to contract with few banks remaining committed to shipping, while the competition from Chinese leasing continued to rise when it came to financing the key Greek shipping market.

China Merchants Energy Shipping (CMES) is forming a ro-ro shipping joint venture with a unit oChina Merchants Energy Shipping (CMES) is forming a ro-ro shipping joint venture with a unit of Guangzhou Automobile Group.

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.

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