We want to thank the 40 participants who joined our Members Only "Financing Retrofits" workshop today. The session, hosted by Marine Money, KfW IPEX-Bank and Wärtsilä, involved a fantastic discussion among shipowners about the modifications they are making to their vessels and how they can be financed.

This issue of Marine Money takes a look at transactions completed in 2020 and stacks these up in comparison with trends in deals over the past five years. This data comes directly fromMarine Money's Deal Database, also available to our members on our website.
Click here to see the issue.

Earlier this month, United Arab Chemical Carriers Limited ("UACC") entered into a definitive merger agreement to be acquired by United Overseas Group Ltd ("UOG"), a company controlled by Peter Georgiopoulos and Leonidas Vrondissis.

Last week, Danaos Corporation announced the pricing of its private offering of $300 million, the maximum amount projected, of senior unsecured notes due 2028, which were distributed under 144A/Reg S without registration rights.

Bringing to fruition a process that began in Q1 2020, Seanergy Maritime Holdings Corp. last month announced the successful completion of a $179 million financial restructuring with respect to $117 million of senior secured loan facilities and $62 million of junior loan facilities and convertible notes.

Even a pandemic cannot slow down TOP Ships ("TOPS"). Despite our belief that equity investors have little interest in shipping, TOPS makes the contrary case.

Dorian LPG reported 3Q 2021 results ahead of expectations and in line with last year's results.

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Earlier in January, Navios Maritime Partners L.P. ("Navios Partners") and Navios Maritime Containers L.P.("Navios Containers") announced that they have agreed to merge in an all-stock transaction.