Don't miss out on this week's Marine Money Webinar with Randy Giveans from Jefferies as he discusses the peaks and canyons of valuations within the tanker, gas, dry bulk, and containership industries...

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Last week, Hafnia Limited, a subsidiary of the BW Group, made an unsolicited proposal to combine with Ardmore Shipping Corporation in an all-stock transaction. After a thorough review with legal counsel and financial advisors, Ardmore dismissed the offer as having no merit, arguing it seriously undervalued the company.

Seanergy Maritime Holdings Corp. announced this week that it had successfully closed the previously announced refinancing of a credit facility secured by two of its Capesize bulk carriers, M/V Geniuship and M/V Gloriuship, with a new credit facility secured by the same vessels.

COVID-19 struck and for MPC Containerships Invest B.V. ("Issuer") and MPC Containerships ASA ("Parent" and together "MPCC") there was no need or time to quarantine. Anticipating the impact of the virus on the global economy resulting in sharply reduced cargo volumes, the company, fearing infection, initiated an immediate dialogue with creditors and shareholders to seek their help in creating a liquidity runway to weather the storm.

With a Covid-induced pressure on the market, discounted share prices, Chinese lease houses hit by aircraft distress and many banks with cruise, container and dry exposure in trouble, will the industry once again struggle with a lack of capital and weak earnings? Or is the combination of a burgeoning V-shaped recovery, opening bond markets and falling order books poised to save the day? Our speaker's this week, all prominent Singapore-based owners, finance arrangers and facilitators, will share their views on the current shipping finance landscape in Asia and what we can expect going forward.

Castor Maritime Inc. has never appeared on our radar. It is a small company which operates three Panamax bulk carriers, with an average age of 17 years, employed on medium-term charters.Fortunately, however, the company is well-known to Maxim Group, which used its magic to raise $38.0 million for the company in two equity transactions over the last month.

Last year, for the first time, we made our Portfolio League Table a living document. Historically, like college basketball it was one-and-done. However last year we uncovered the data for ING, one of the industry's leading lenders and for the first time updated and republished the graph.

Back in mid-June, American Tanker, Inc. ("ATI") an indirectly-owned subsidiary of American Shipping Company ASA ("AMSC") successfully placed a $200 million senior unsecured bond, with strong demand from Nordic and international investors.

Paddy Rodgers is too young to be in a museum and too valuable to be sidelined during what might be one of the most challenging and difficult periods in shipping. We were wondering when someone would see the opportunity and seize it.

This month, Navig8 Chemical Tankers Inc. announced that it had entered into sale and leaseback agreements with SPDB Financial Leasing Co., Ltd for four of its six owned IMO2 37,000 DWT Interline coated tankers, built at Hyundai Mipo in 2015/2016. VesselsValue provides an average valuation of approximately $25.4 million or $101.5 million en bloc.

Recognizing the risks of climate change, the need for leadership and their unique position in the shipping industry, a group of future looking banks threw down the gauntlet by establishing the Poseidon Principles as a means to contribute to international shipping's decarbonization.

Last week, GoodBulk Ltd. announced that it has reached an agreement with its banks to refinance its fleet having received credit committee approval for a loan of $200 million to refinance the full amounts outstanding under five of its six existing facilities for approximately the same total amount.