Finance & Economy

This page features all the latest news from shipping finance, major banks, finance markets and the world economy.

Finance & Economy

BW tanker vessel

March 29, 2017

Moody’s Investors Service has affirmed BW Group Ltd’s Ba1 corporate family rating and the Ba1 rating on its remaining USD194 million of senior secured notes...
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Tidewater

March 29, 2017

Offshore service vessel provider Tidewater Inc. announced that the latest waiver of covenant default from its lenders and noteholders expired in accordance with its terms...
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The Carnival cruise ship Ecstasy leaves the port in Miami, Florida, September 18, 2015. REUTERS/Joe Skipper

March 29, 2017

Carnival Corp, the world's largest cruise operator, reported a better-than-expected quarterly profit on Tuesday and raised its forecast for full-year earnings, sending its shares to...
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Scorpio-Tankers

March 28, 2017

Scorpio Tankers announced today that it plans to offer senior unsecured notes due 2019 in a registered underwritten public offering and simultaneously commence a cash...
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Ocean Rig

March 28, 2017

Rig contractor Ocean RIG UDW Inc filed for Chapter 15 bankruptcy protection in a U.S. court amid a deep and prolonged downturn in the industry....
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CIMC

March 28, 2017

China International Marine Containers (CIMC) saw 2016 net profit drop 73% to RMB540m ($78.5m) from RMB2bn previously. (more…)
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ezra

March 28, 2017

When it comes to matters legal or bureaucratic, Singapore is swift to act. Bankruptcy, sometimes, can be even faster. (more…)
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DSME shipyard

March 28, 2017

The main creditor of Daewoo Shipbuilding & Marine Engineering Co. said Monday it has been preparing for the option of placing the troubled shipbuilder under...
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Jung Sung-Leep, president of Daewoo Shipbuilding & Marine Engineering Co, attends a news conference in Seoul, South Korea, March 24, 2017.   REUTERS/Kim Hong-Ji

March 27, 2017

Daewoo Shipbuilding & Marine Engineering Co Ltd’s CEO Jung Sung-leep said he believes he should step down from the top position if the cash-strapped South...
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Hapag_Lloyd

March 27, 2017

Hapag-Lloyd closed the 2016 financial year with EBITDA of EUR 607.4 million (previous year: EUR 831.0 million) and an operating result (EBIT) of EUR 126.4...
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SuezCanal700

March 23, 2017

Egypt’s Suez Canal revenues fell to $375.8 million in February from $395.2 million the previous month, a government website reported. The canal is the fastest...
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abg_shipyard

March 23, 2017

Auditors of ABG Shipyard Ltd. raised concerns over its future as the debt-ridden shipbuilder said it is in a “deep financial crisis” and has closed...
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Cosco-HK

March 23, 2017

Cosco Shipping International (Hong Kong) has seen its profit for the year ended December 31, 2016 drop 29 percent to HKD 236.5 million (USD 30.4...
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Golar-LNG

March 23, 2017

Golar LNG Partners LP (NASDAQ:GMLP) (the "Partnership") announced today that it has purchased a nominal amount of NOK 353 million of its 2017 maturing bonds....
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DSME yard

March 23, 2017

State-run banks will give 2.9 trillion won ($ 2.6 billion) in fresh loans to the debt-ridden Daewoo Shipbuilding & Marine Engineering (DSME), the Financial Services...
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