Last week, Hafnia Limited signed a $473 million senior secured term loan and revolving credit facility to refinance its existing $360 million facility due in 2023 and a $236 million facility maturing in 2022. The current loans charge interest at three-month LIBOR + 2.25% and 2.6% respectively

Contributed article on how technology has affected and will continue to affect the maritime industry

Last weekOcean Yield ASAannounced that it had agreed to acquire in a sale-leaseback transaction two 208,000 DWT Newcastlemax dry bulk newbuildings with 13-year bareboat charter to companies owned and guaranteed by2020 Bulkers Ltd.

Struggling with the poor offshore markets, Teekay Offshore Partners (TOO)was forced to restructure on a number of occasions, eventually entering into a partnership withBrookfield Asset Management, who through the injection of $640 million of new equity, the retirement of preferred equity and the restructuring of its debts transformed TOO's capital structure and put it on sound footing.

During the second quarter of 2019, the shipping and offshore industries raised a strong $3,128 million in the debt and equity capital markets. The 25 deals launched were an up from just seven in the previous quarter and proceeds more than doubled.

Software technology to run shipping is not a new phenomenon, but it has evolved significantly over the past few years.

Last week,Diana Shipping Inc.announced the final results of its fifth tender offer in which it agreed to purchase up to 2,816,900 shares (3% of the shares outstanding) at $3.55 per share.

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Last week,Global Ship Lease, Inc.("GSL") successfully priced its fully underwritten public offering of its common shares raising gross proceeds of approximately $55.2 million

The shipping and offshore markets have traditionally been reliant on bank funding to service their capital requirements. There has, however, been a significant focus on bank capacity retrenchment in recent years especially relating to the changes in bank regulations (IFRS 9 and 16).

The analysts can pat themselves on the back. The bull market is here, but its longevity is uncertain. Clarksons Platou Securities did the math for us: "On Friday, VLCC earnings on the MEG- East route reached $308,000 per day.

The Japanese Operating Lease with Call Option (JOLCO) in its current structure has been a valuable and reliable source of financing for nearly two decades...While there have been JOLCOs in the maritime sector for many years, it is only recently that the vessel JOLCO market has started to thrive.