Last week, the Navios Group of Companies celebrated its 70th anniversary with a dinner in New York City. The timing was propitious as the company’s latest transaction brought it back full circle to its beginnings. The company has evolved from a simple captive of U.S. Steel to today’s leading tonnage provider to the dry, wet, and container markets. Companies: Navios Group of Companies, Navios Maritime Partners, Navios Maritime Holdings Inc., N Logistics Holdings Corporation, . Jefferies LLC, S. Goldman Advisors LLC

On Tuesday, DFDS A/S entered into a sale leaseback agreement with Navigare Capital to finance three freight ferries for a total sales price of DKK 1.46 billion. The three ferries are the Flandria Seaways, Humbria Seaways, and Scandia Seaways which were built in 2020, 2020, 2021 respectively. The five-year charters will commence upon delivery of the vessels to the new owner which is expected to occur this week. Companies: DFDS A/S, Navigare Capital

Last week, Web Holding Limited (the "Offeror"), a company controlled by the major shareholders of BW Epic Kosan Ltd., last week, announced its intention to make a voluntary unconditional offer for all the outstanding shares of BW Epic Kosan. Companies: BW Epic Kosan, Web Holding Limited, Skandinaviska Enskilda Banken AB, Pareto Securities

The long running feud between Frontline PLC and Euronav is settled at last with the parties agreeing to dismember the latter. The transaction comprises three independent agreements. Companies: Frontline PLC, Euronav, CMB NV, DNB Markets, Crédit Agricole CIB, KBC Securities, Sociéte Générale

With its highly contracted and stable cash flows, the container leasing business is a perfect vehicle for infrastructure investors. The business offers a strong cash yield and downside protection along with a platform for continued growth. Companies: Brookfield Infrastructure Partners, Triton International Limited, Textainer Group Holdings Limited, Stonepeak, BofA Securities, Deutsche Bank

Last week, Atlas Corp. announced its intention to redeem its 8.00% Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares, Series I (the "Series I Preferred Shares") at the liquidation preference of $25.00 per share, which will require an outlay of $150 million based upon the 6 million shares outstanding. Companies: Atlas Corp

There was a time not so long ago when shipping markets were weak, and banks were carefully managing their portfolios and shipping exposures. The idea of new business was not thrilling, and the banks’ focus turned mainly to their key clients. This created a vacuum for alternative lenders, led by the Chinese lessors, to fill and they did just that by introducing leasing on a broader scale to the shipping industry. Companies: Scorpio Tankers

Since the consummation of the Grindrod Shipping transaction, Taylor Maritime Investments Limited has prioritized the de-levering of its balance sheet. It primarily accomplishes this through pro-active asset sales with an eye to maintaining a balance of strategic fleet management. Companies: Grindrod Shipping, Taylor Maritime Investments Limited

Last week, Cool Company Ltd. (“CoolCo”) and Huaxia Financial Leasing Co. Ltd. announced that they had entered into sale and leaseback financing arrangements for the Kool Tiger and Kool Panther, both newbuildings scheduled to be delivered in September and December 2024 from Hyundai Samho Heavy Industries. Companies: Cool Company Ltd. (“CoolCo”), Huaxia Financial Leasing Co. Ltd.

Last week, Jamie Dimon, Chairman and CEO of JP Morgan Chase, commented on the bank’s Q3 2023 results: “The Firm delivered another quarter of solid results, generating net income of $13.2 billion and an ROTCE of 22%—although, we acknowledge that these results benefit from our “over-earning on both net interest income” and “below normal credit costs”, both of which will normalize over time.” Companies: Dorian LPG,

Earlier this month, Heidmar Inc. announced that it had dropped its plans for a U.S. listing having terminated its Business Combination Agreement with Home Plate Acquisition Corporation, a publicly listed, special purpose acquisition company. Companies: Heidmar Inc.

Last week, Taylor Maritime Investments Limited (“TMI”) announced that its subsidiary, Grindrod Shipping Holdings Ltd. (“Grindrod Shipping”) agreed to acquire TMI’s commercial and technical managers, Taylor Maritime Management Limited (“TMML”) and Tamar Ship Management Limited (“Tamar”). Companies: Taylor Maritime Investments Limited, Taylor Maritime Investments Limited