Navigator Holdings has entered into a $160.8m loan facility with Nordea Bank, BNP Paribas, DVB Bank America, ING Bank and Skandinaviska Enskilda Banken (SEB) to refinance an existing loan facility that is due to mature in February 2018.
Cosco Shipping Development Co, via its subsidiary CS Investment, has agreed to make a capital contribution of approximately RMB1.76bn ($261.18m) to subscribe to around 584.3m ordinary shares of China Bohai Bank.
China’s financial leasing institutions are stepping up their game in shipping becoming more flexible and competitive in their deal terms compared to traditional bank lendings, according to Western shipowners.
China Shipbuilding Industry Corp (CSIC) has secured RMB11.3bn ($1.64bn) worth of credit facilities from compatriot China Everbright Bank.
With less new ships being ordered amid the severe oversupplied shipping market and vessel assets changing hands in light of restructurings, owners are starting to seek refinancing for secondhand tonnages, but bankers have expressed little or no...
Daewoo Shipbuilding & Marine Engineering (DSME) has narrowly averted bankruptcy after bondholders and creditors agreed to a bailout scheme following a series of meetings positively concluded over the past two days.
Cosco Shipping Leasing, wholly-owned by Cosco Shipping Development, has secured loans worth RMB2bn ($289.7m) from China Bohai Bank and Bank of Nanjing.
The credit exposure for South Korean banks to the country’s big three shipbuilders has been trimmed by KRW5.36trn ($4.67bn) in 2016 compared to the previous year due to restructuring efforts by the yards, reports said.
Gulf Navigation has ended its dispute and settled with DVB Bank SE, BNP Paribas, and DNB Bank relating to a case in 2014 when two VLCCs financed by the lenders were sold.
