Over the course of the summer season, as tariff delays and exemptions approached their August 1st deadline, the U.S. began a spree of bilateral trade deals, many of which included or targeted the U.S. shipping and shipbuilding industry. Companies: Ocean Network Express, Japanese Bank for International Cooperation, Nippon Export and Investment Insurance, Cerberus Capital Management, HD Hyundai, Cerberus Maritime, Korea Development Bank, MSIP/Crowley, Hanwha, Philadelphia Shipyard , Hanwha Shipping

Equity raises for shipping companies have become rare occurrences in Western capital markets. Companies: ADNOC Logistics & Services , Pershing Square Holdings, KKR/Ocean Yield

Gas and specifically LNG investments in shipping have often been amongst the few shipping sectors to still attract longer-term outside capital. Companies: Höegh LNG , Morgan Stanley Infrastructure Partners, Golar LNG , NFE, Basalt Infrastructure, Apollo, Hav Energy, Ocean Yield, France LNG , KKR, CapeOmega , Hanwha, Venture Global, DNV Maritime, Clarksons Data, Department of Energy , EIA, Trafigura, Korea Gas Corporation , Cheniere, Gunvor , Macquarie Group , AMIGO LNG, Epcilon LNG , LNG Alliance

When we think of shipping finance, most would think of capital flowing into mainstream asset classes like tankers, bulkers, and containerships.

Following Ocean Yield’s end-of-summer bond issuance, the Nordic fixed-income market appears to be heating back up with a flood of new and contemplated issuances across shipping and offshore. Companies: Ocean Yield’s , Navios South American Logistics’ , Contships, Performance Shipping, Arctic Securities, Fearnley Securities, Tidewater, DOF Group ASA , DNB Carnegie, Pareto Securities, Clarksons Securities, Danske Bank.

VLCCs ARE AWAKENING
SHIPPING STOCKS GAIN STRENGTH

Last week’s issue of Freshly Minted featured a discussion around Ocean Yield and their financial sponsor, Kohlberg Kravis & Roberts (“KKR”), which jointly acquired CapeOmega. Companies: Ocean Yield, Kohlberg Kravis & Roberts, CapeOmega, Navigator Gas, Scorpio

While Torm and others turn to bank debt to refinance their capital structures, the leasing market has hardly come to a standstill, whether it be private lease strategies, Chinese leases, or Japanese Operating Leases with Call Options (“JOLCOs”). Companies: Ocean Network Express, Nihon Shipyard Co, Imabari Shipbuilding Co, K-SURE, Sinosure, Japan Bank for International Cooperation, Nippon Export and Investment Insurance , BNP Paribas , HSBC, Citibank , Financial Partners Group, Watson Farley Williams, Norton Rose Fulbright

The list of peer investments in shipping this year keeps on building. While tonnage remains expensive, shipping companies continue to bolster their balance sheets, ensuring they can strike on the next lucrative deal efficiently. Companies: Hafnia, , TORM Plc, Oaktree

One theme that keeps recurring this year is substantially lower newbuilding orders with Clarksons data showing, as stated before, a 54% decrease overall year-on-year in newbuild orders. Companies: Clarksons, DHT, International Seaways , DNB, Korea Trade Insurance Corporation

VLCC FLEET OUTLOOK: AGEING TONNAGE MEETS LIMITED NEWBUILDS
SHIPPING STOCK PRICES TAKE A BREATHER

Earlier in the year, at Marine Money Hamburg, sentiment around ship lending was a bit of a mixed signal. Companies: Torm, Danske Bank, Nordea Bank, Kromann Reumert,