Maritime liens on equipment fall into two general categories: equipment that is an appurtenance of a vessel, and equipment that is cargo aboard a vessel. While both are maritime liens, the type of person that can exercise such liens differs greatly.

The year just ending has demonstrated the resilience of the global economy and shipping industry, but
the challenges are far from over, writes Niklas Carlen, Director, Maritime Strategies International

The ship finance market is always busy. With 100,000 ships valued around $2 trillion, lots of sale and purchase transactions and an industry average loan tenor of just 5 years, the industry has constant appetite for capital. Although every year is active, 2021 was one of the more unusual years that I can remember.

This week, Belships ASA announced that it had entered into agreements to sell and lease back two of its Ultramax bulk carriers, the Bellight and Belforest (more fully described below), on bareboat charters for 10 and 11.5 years, respectively.

Christos Sigalas explains everything you need to know about NAV.

If you love numbers and charts, Campbell Houston has every conceivable kind.

The maritime industry continues to make progress towards achieving its goal of net zero emissions. Upon the introduction of the regulations, owners immediately began to fine-tune operations while retrofitting existing vessels with fuel saving equipment. Some, with greater access to capital, ordered dual-fuel newbuildings, which operate on LNG, a transition fuel, while the truly green fuel of the future is being commercially developed.

Already a major shareholder, Kenon Holdings Ltd, a company controlled by Idan Ofer, has expanded its relationship with ZIM Integrated Shipping Services (“ZIM”) by agreeing to charter to them three 7,000 TEU LNG dual-fuel container ships.

From the Deal Tables.

The shipping and offshore industries raised over $18,245 million from global capital markets in 2021. The year had the highest proceeds since 2017, and a $5,350 million and 41 percent increase over 2020.

Today, Golar LNG (“Golar”) provided a status report on the progress it has made with respect to the formation of Cool Company Ltd. (“CoolCo”), which is to acquire Golar’s eight TFDE LNG carriers. CoolCo will have an initial market capitalization of approximately $375 million, of which Golar will retain a minimum shareholding of $125 million.

It was worth the wait. Despite attracting significant interest from investors back in November, Gram Car Carriers ASA (“GCC”) decided then, in consultation with its financial advisors, to postpone the contemplated IPO on the basis of the prevailing conditions in the primary issue market.