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Finance & Insurance

Hamburg: Amid strong 2012 profits of $104m, German shipping financier NordLB has claimed that the worst of shipping’s woes is over.
Piraeus: Navios Group has agreed to acquire 10 ships with $130m in cash and $170m in loan from the debtors of HSH Nordbank through a new joint venture named Navios…
Singapore: First Ship Lease (FSL) Trust reported a larger net loss in the first quarter over the previous year due largely to its exposure to Torm.
Hong Kong: Marine fuels supplier Brightoil Petroleum inked a loan facility of up to $30m for a term of three years from China Development Bank Corporation Hong Kong Branch.
Kuala Lumpur: Malaysian state oil and gas firm Petronas has failed in its bid to take shipping firm MISC private.
Oslo: SinOceanic Shipping (SinOceanic) is nearing a deal to refinance $205m of junior debts as negotiations continue between 81.9% owners Sinindo Holdings (Sinindo), creditor Oceanus International (Oceanus) and a Chinese…
Antwerp: Belgian dry bulk outfit Bocimar reported a loss of $820,000 in the first quarter as rates fell year on year.
Shanghai: Badly secured breakbulk cargoes are coming loose and putting lives and vessels at risk – especially in China - according to a report from the North P&I club.
New York: Maersk’s Group's ceo Nils Andersen (pictured), visiting New York this week, was honored by ringing the opening bell at the NASDAQ marketplace, adjacent to the iconic Times Square.
Singapore: First quarter net profit at Keppel Corporation was $331m in 2013, 56% down on the $751m earned in the same period in 2012.
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