Chile-based SAAM, the largest operator of port, towage and logistics services in the Americas, has placed a total of $50.6m in bonds on the local market at the Santiago Stock Exchange.
Dry bulk shipowner Safe Bulkers (SB) announced that it was initiating a programme for issuing up to $23.5 million of shares, at the market, sometimes called an “ATM” offering.
Hermitage Offshore Services and 28 of its subsidiaries have filed voluntary petitions for reorganisation under the US Chapter 11 of the Bankruptcy Code, amid the global oil slump and coronavirus (Covid-19) pandemic.
Financial leasing is the fastest growing form of ship finance and June this year saw Hong Kong introducing its new ship leasing tax concession initiative.
London remains by far the dominant centre for international maritime arbitration despite competition from Asia and the Middle East, according to a study by law firm HFW.
China’s Bestway Marine & Energy Technology has announced that several bank accounts of its subsidiary had been frozen.
China’s National Development and Reform Commission and Ministry of Transport jointly issued guidelines to speed up Tianjin’s development to be an international shipping hub in north China.
MAN Energy Solutions (MAN ES) has agreed with employee representatives to cut the number of job losses in planned restructuring in return for concessions on labour costs.
The Jacksonville City Council has unanimously awarded the Jacksonville Port Authority (JAXPORT) $75m for the ongoing harbour deepening project.