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Industry Sectors:Finance & Insurance

Finance & Insurance

Struggling Malaysian shipowners received a boost in the country’s 2014 budget with MYR3bn ($954m) allocated for soft loans to the maritime industry.
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.
Viking Supply Ships has entered into a $120m contract for the charter of four Anchor Handling Tugs to “a major oil 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.
BW LPG is looking to raise $275m - $300m from its planned initial public offering (IPO) on the Oslo Stock Exchange.
Third quarter sales at engine and equipment manufacturer Wärtsilä grew 11%, while order intake fell 14% to EUR1bn.
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