Industry Sectors:Finance & Insurance
Finance & Insurance
Australia-based Miclyn Express Offshore (MEO) will acquire a 50% stake in Uniwise Towage Limited from Svitzer Asia, a subsidiary of AP Moller-Maersk Group.
Marine fuels supplier Brightoil Petroleum has inked another facility agreement with China Development Bank Corporation Hong Kong Branch for a 10-year term loan of $50m.
Expansionist shipowner Scorpio Tankers is combining its fleet of VLGCs in a newbuildings with Dorian LPG in exchange for a 30% in the latter company.
If nothing else, shipping is about good timing, which breaks down to various proportions of luck, external waves and winds supporting plans and strategies, and pluck, good execution, financially and…
STX Pan Ocean’s debt rehabilitation plan would see it converting $1.26bn worth of debt into shares.
P&I insurers Steamship Mutual are lining up a 10% premium increase for the 2014 policy year, following a 7.5% premium increase announcement by North P&I Club.