It was back in November 2019 when Seaspan Corporation announced the implementation of a holding company structure creating Atlas Corporation, as the parent company of Seaspan, and a path to diversification.

Backed by major US- and European-based institutional investors, Direct Ship Finance (‘DSF”), a new provider of senior secured loans to ship owners, will launch its first senior secured credit fund effective September 2021.

In shipping, the only certainty is uncertainty. It is also a truism that shipping is a cash flow game with the key metric to assess performance being cash flow breakeven ("CBE"). The shipping business model is quite simple. Revenue is generated from renting space on board at market rates.

ABN AMRO and DNB, we have a problem. Owned by a joint venture of Knutsen OAS Shipping and Umoe, Norspan LNG VI AS is a single purpose vehicle ("SPV"), which owns the Sevilla Knutsen, a 173,400 cbm LNG carrier currently on a 20-year time charter to a wholly owned subsidiary of Royal Dutch Shell.

With a booming container market that appears to have legs and cash pouring into its coffers, Costamare Inc. disclosed back in June that it had taken a different tack choosing to invest in the dry bulk sector, “…a liquid sector with strong fundamentals that provide enhanced return opportunities for our shareholders.”

All in favor say aye! After being harangued by shareholders and analysts for what seems forever, Dorian LPG Ltd. announced its first ever dividend of $1.00 per share, returning in excess of $41 million to shareholders based upon the share count as of March 31, 2021.

Earlier this month, Bonheur ASA successfully placed a second senior unsecured green bond issue raising NOK 700 million, out of a total availability of NOK 1,000 million. Maturing in July 2026, the issue was oversubscribed allowing the issuer to draw down NOK 100 million more than initially was indicated.

If something works, it is always worth replicating. In 2018, the Korean government implemented a five-year plan to revive the country's ailing shipping industry. The key element of the plan was the establishment of the Korean Ocean Business Corporation ("KOBC").

Last week, NYK Line issued its 43rd and 44th unsecured corporate bonds (transition bonds) within the Japanese domestic market, becoming Japan’s first company to issue such bonds. Moreover, the issuance was selected as the first model case for transition finance by Japan’s Ministry of Economy, Trade and Industry.

Earlier this month, Avance Gas Holding Ltd. successfully completed a private placement of 12.899 million new common shares at a price per share of NOK 43 raising gross proceeds of NOK 554.7 million (~$66.8 million). The subscription price of NOK 43 per share was based on the results of a book building process and the price is considered representative of professional investors' view of the market price for the shares for a share offering of this size.

Penfield Marine and Macquarie Group execute carbon neutral voyage and reach agreement to offer carbon-neutral freight solutions to Penfield's pool members and charterers.

It was back in February when Seaspan Corporation and ZIM Integrated Shipping Services Ltd. announced a strategic agreement for the long-term charter of ten 15,000 TEU liquefied natural gas (LNG) dual-fuel container vessels, to serve ZIM's Asia – U.S. East Coast trade, where it is a leading player in this growing trade with an estimated market share of 9 percent.