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.

​

Faced with certain debt maturities coming due by year-end, looking to simplify its debt structure through a consolidation into a larger facility, and focused on decoupling its main secured debt facilities from its unsecured debt maturities in 2026, long-established and NYSE-listed offshore support vessel company SEACOR Marine Holdings Inc. considered its options early in 2023.

This week we received Dealogic’s “Marine Finance Rankings Syndicated Loans – First Quarter 2024,” which after having just recently reviewed a comparison of the 4th quarter results, displayed varying levels of support to the conclusions made in that piece.

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.

The high-yield bond market proved to be an essential partner to the offshore drilling space in 2023. In a sector in which banks have been reluctant and private lenders can’t offer enough size, the bond market has stepped in and provided important assistance to a market in recovery.

Cadeler and Eneti are key suppliers within the offshore wind industry for installation services and marine and engineering operations. Cadeler has impressively grown its fleet organically since its IPO in 2020 (from 2 vessels to 6, including newbuilds).

This past December saw the announcement of a transformational merger, between two U.S. listed dry bulk shipping companies, Eagle Bulk and Star Bulk. Companies: Eagle Bulk, Star Bulk, Cravath, Swaine & Moore LLP, Star Bulk, Houlihan Lokey, Akin Gump Strauss Hauer & Feld LLP, Hogan Lovells US LLP

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

Headquartered in Copenhagen and listed on the NYSE and Oslo Stock Exchange, Cadeler A/S is a world-leading provider of services to the offshore wind industry, specializing in the transportation and installation of wind turbines and their foundations.

On March 7th, Tidewater Inc. (NYSE: TDW) announced a definitive agreement to purchase 37 of Solstad Offshore ASA’s platform supply vessels for $577 million.

The bond issuance frenzy out of Oslo continues with this most recent offering completed by SFL Corporation with the help of joint Bookrunners Arctic Securities and DNB Markets, and Co-Managers Fearnley Securities, Pareto Securities, SEB, and SMBC Nikko. Companies: SFL Corporation, Arctic Securities, DNB Markets, Fearnley Securities, Pareto Securities, SEB, SMBC Nikko, Ocean Yield