Last week, Sungas Holding Ltd. sold its entire existing investment of three million shares, representing approximately 4.65% of the share capital in Avance Gas Holding Ltd. in a secondary offering.

When it comes to capital allocation, we are Marine Money's resident curmudgeon. We've yet to reconcile a capital hungry cyclical industry with the requisites of a public company, particularly as it relates to rewarding shareholders. In fact, we cannot think of an industry which has been more abusive to its shareholders.

That is a question we would like to ask Maxim Group, the sole bookrunning manager of Globus Maritime Limited's upsized $12.0 million underwritten public offering, which closed on Monday.

On Tuesday night, Scorpio Bulkers Inc. ("SALT") announced that it had successfully priced its underwritten public offering of 4.1 million shares of its common stock at $18.46 per share raising gross proceeds of $75,686,000. In addition, the company granted the underwriters a 30-day option to purchase up to an additional 615,000 common shares.

To increase liquidity and further strengthen its capital structure, GasLog Ltd. announced on Monday that it had sold 14.4 million common shares at a price of $2.50 per share raising total gross proceeds of $36.0 million through a private placement of unregistered common shares.

It goes without saying that timing is everything. With the deadline for our Q2 2020 Marine Money magazine fast approaching, we were awaiting an article from SMBC on a new loan participation structure.

Navios South American Logistics Inc.("Navios Logistics") announced on Tuesday that it along with its wholly-owned finance subsidiary, Navios Logistics Finance (US) Inc.successfully priced $500 million of 10.75% Senior Secured Notes due 2025 (the "Notes").

On May 14th, the U.S. Government issued a detailed Sanctions Advisory for the shipping/maritime community. Click here to watch the webinar

Hardie Edgecombe and Stephen Hawke will discuss the risks associated within the domestic and international maritime sector and the implications from coronavirus before, during and after the outbreak.

This webinar, presented by high-ranking law firm,Wikborg Rein, considers the recent High Court guidance in Jiangsu Guoxin Corporation–v–Precious Shipping Public Co. Ltd [2020] EWHC 1030 (Comm), which considers the application of the prevention principle, delay and extensions of time under shipbuilding contracts.

There are no limits to the ingenuity of borrowers to strengthen their balance sheets and improve liquidity. Actions can be large or small, but each step taken is an improvement. There is a consistency of purpose that we have never seen before, which bodes well for the industry as a whole. This week there was lots of action in the derivatives market.

Following the wisdom of GE's Jack Welch, Diamond S Shipping Inc. announced on Tuesday that it has entered into a strategic partnership with NORDEN A/S to form DiaNor, which would consolidate the fleets of two of the world's largest owner/operators of product tankers.