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Finance & Economy

Seadrill New Finance Emerges from Chapter 11

Seadrill Limited unit Seadrill New Finance (the Issuer) has emerged from chapter 11 after successfully completing its pre-packaged restructuring pursuant to its chapter 11...

Top Ships Announces Delivery of 1st VLCC, Sale of 2 Product Tankers

TOP Ships, an international owner and operator of modern, fuel efficient “ECO” tanker vessels, announced the delivery of the very high-specification, scrubber-fitted, 300,000 dwt...

Seanergy Announces Additional $5 Million Buyback of Convertible Notes

Seanergy announced an aggregate of $5 million in buyback and partial elimination of the outstanding convertible note, utilizing 50% of its second share repurchase...

Castor Announces $55 Million Debt Financing and New Charter Agreement

Castor Maritime, a diversified global shipping company, announced the closing and drawdown of a $55.0 million senior term loan facility with a European bank,...

Genting Hong Kong Looks to Liquidation as Funding Dries Up

Troubled cruise operator Genting Hong Kong Ltd. warned it may seek court assistance to safeguard its assets, after failing to secure funding to help...

Danaos Announces Multi-Year Charters, Vessel Sales Worth $1 Billion

Danaos, one of the world’s largest independent owners of containerships, announced that it has entered into new charter arrangements for 11 of its vessels...

After failed merger, Hyundai Heavy secures cash to nurture new growth engines

Hyundai Heavy Industries’ failed acquisition of its smaller rival Daewoo Shipbuilding & Marine Engineering may be a boon for the nation’s largest shipbuilder as...

EU blocks Daewoo – Hyundai merger

The European Union on Thursday blocked the merger of South Korean shipbuilding giants Daewoo and Hyundai over concerns about restricting supplies of large liquified...

GasLog Announces Chief Executive Officer Transition

GasLog announced that Paul Wogan, Chief Executive Officer of GasLog, has informed the board of directors of GasLog that he intends to retire from...

Nakilat partners with ABS to develop Decarbonization Strategy

Nakilat, one of the world’s largest LNG shipping operators, has partnered with ABS to develop an industry-leading decarbonization strategy. Over the past months, Nakilat’s...

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Safe Bulkers Posts Strong Q4 Results

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and twelve month periods ended...

Navios Partners Posts $1.3 Billion Revenues in 2023

Navios Maritime Partners L.P., an international owner and operator of dry cargo and tanker vessels, reported its financial results for the fourth quarter and...

TORM Announces Pricing of USD 200m Senior Unsecured Bond

TORM has successfully priced USD 200m of senior unsecured bonds due 25 January 2029. The Bonds will carry a fixed coupon of 8.25%, payable semi-annually....

TORM capital increase in connection with delivery of MR vessel & LR2 vessel

With reference to Company Announcement no. 22 dated 09 November 2023 where TORM plc (“TORM") announced the acquisition of eight LR2 product tanker vessels,...

Marinakis sells stake in Capital Product Partners to Yoda

Cyprus-based Yoda has purchased a stake from Evangelos Marinakis-led Capital Maritime & Trading in New York-listed LNG carrier owner Capital Product Partners. Yoda, which invests...

Posidonia 2024: Navigating Uncharted Waters in the Face of Global Challenges

Posidonia 2024 is already on track to be the biggest ever in the long...

Wallenius Wilhelmsen: Multi-year contract with Korea’s leading construction machinery company

Wallenius Wilhelmsen recently signed a significant multi-year shipping contract with Korea’s leading construction machinery...

Baltic Index Climbs For Third Straight Session On Firm Rates For Larger Vessels

The Baltic Exchange’s dry bulk sea freight index gained for a third straight session...

Höegh Autoliners Signs EV Deal with Major Asian Manufacturer

Höegh Autoliners ASA has signed a new contract with a major East Asian car...

Red Sea ship diversions boost bunker demand, prices in Africa, Mediterranean

The re-routing of a growing number of ships around Africa to avoid potential attacks...

Major investment implemented by Piraeus Port Authority

The inauguration ceremony for the project “Completion of the Expansion of RoRo - Heracleous Port” took place at the Car Terminal of PPA S.A. It...

African Ports See Higher Refueling Demand as Vessels Round Cape

African ports from Namibia to Mauritius are becoming more popular as refueling stops for vessels shunning security threats in the Red Sea. The Namibian port...

Plaquemines Port, APM Terminals to develop major container terminal

Plaquemines Port Harbor and Terminal District (Plaquemines Port) proudly announces the execution of a letter of intent with APM Terminals to build a state-of-the-art...

Piraeus registered historical high in cruise passengers last year

Piraeus has posted a new record in cruise passengers according to last year’s figures announced on Thursday, while another record is expected during 2024. According...

Sale of APM Terminals Castellón to Noatum Terminals Completed

After careful evaluation, APM Terminals has decided to divest its terminal facility in Castellón, Spain (APM Terminals Castellón) upon reaching an agreement with Noatum...