Oslo-listed driller Dolphin Drilling has successfully raised approximately $40 million via a private placement of shares managed by Arctic Securities AS, Clarksons Securities AS, and DNB Markets. Companies: Dolphin Drilling, Arctic Securities AS, Clarksons Securities AS, DNB Markets, Strategic Value Partners, S.D. Standard ETC Plc, B.O. Steen Shipping AS, Surfside Holding AS, DNB, Pareto, Fearnley, MAP

Höegh Autoliners has entered into $720 million of new long-term financing arrangements. Use of Proceeds includes: (1) the refinancing of all existing bank debt, (2) new financing for four Aurora-class newbuilds, and (3) acquisition financing of two more vessels the Höegh Jeddah and Jacksonville. Companies: Höegh Autoliners, Citibank, BNP Paribas, ING Bank, Crédit Agricole, DNB, Danske Bank, SEB, Nordea

For the past decade, the global shipping industry has grown accustomed to using Chinese leasing as a source of finance for major transactions, many times involving deal sizes which were outside the comfort zone of the commercial banks.

Asia is large, and maritime transactions are prevalent throughout. Expert knowledge of new jurisdictions and building client relationships in new countries is all part of the job.

It was eight years of misery for the offshore market. The downturn that started in 2010 left offshore companies unable to take delivery of new vessels and rigs. It also resulted in loan impairments, equity wipeouts, and widespread restructuring. Companies: Havila Shipping, Volstad Maritime, Sæviking AS, Havila Holding, Ola Volstad Holding, Arctic Securities, Simonsen Vogt Wiig

George Weltman has been a fixture almost since the start of Marine Money. First as a reader who would thoughtfully and helpfully note errors or missed subtleties, and later as a deal person and knowledge resource on the industry, particularly the container business and, finally, as a dear and valued member of the Marine Money team, where he always brought value, insights, and integrity to our efforts.

To be a leading shipping player, an ESG trajectory is not only preferable but essential in our industry today, as ESG achievements are more and more tied in to financial covenants and pricing.

Our DOTY 2024 Offshore East is awarded to Yinson Production which raised its first corporate loan following the reorganization and decentralization of Yinson Group in 2023, and showcases Yinson Production’s ability to attract financing along the entire capital structure, utilizing Yinson Production’s balance sheet.

Dealmaking in the Jones Act space is hotter than ever due to a combination of increased infrastructure spending, geopolitical tension, nearshoring, and an increased emphasis on the importance of energy security. Companies: Centerline Logistics, Beal Bank, Maritime Partners, ATLAS, Saltchuk, OSG, Morgan Stanley Infrastructures Partners, Crowley, Pasha Group, Pasha Hawaii, Horizon Line, Kirkland & Ellis LLP, Nixon Peabody LLP, Bank of America Securities

There has been talk about consolidation in shipping forever. It has occurred to a degree in other sectors, but very rarely in dry bulk.

South Korean shipping and logistics company HMM Co., Ltd. (“HMM”) placed an order for twelve 13,000 TEU LNG-ready containerships to be delivered across 2024.

A truly cross-border newbuild financing transaction was consummated for one of the largest asset managers globally on four dual fuel ready containerships.