Articles

This year thus far has been an extremely active one for bond issuances, especially in Nordic markets. Companies: SFL, Golar, MPC Container Ships ASA, Arctic Securities, Pareto Securities , Clarksons Securities , Fearnley Securities

ASIA IS DROWNING IN PROPANE, SHIPPING STOCKS BENEFIT FROM CHINESE STIMULUS

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HIGH PRICES FOR OLD TANKERS and
A WILD RIDE

Golar LNG (“Golar”) shareholders are in for a long and enjoyable ride. The company announced this week that it has entered into an agreement with CIMC Raffles to build an FLNG carrier for a total cost of $2.2 billion (plus financing costs). Companies: Golar LNG, CIMC Raffles , Pan American Energy, BP, CNOOC

There has been a lot of buzz around the offshore wind sector, which has seen numerous mergers in the past year such as Cadeler/Eneti, or more recently Cyan/MMA, as well as bountiful investors, and to top it all off competitive and available financing. Companies: Cadeler/Eneti, Cyan/MMA, Macquarie Asset Management, Permira Credit, Nomura Greentech, Kromann Reumert, Permira, Crédit Agricole CIB, Jones Day, Bech-Bruun

We keep our methodology as consistent as possible from year to year so that it is possible to create a time series of data, or to just compare one year’s winner to another. Even with this in mind, though, it is important to update the methodologies and improve them over time.

There are numerous ways to gain exposure to shipping risk and each of them has “pros and cons.” You can invest in public shipping stocks, betting on the direction of the company’s sector and fleet employment. Companies: Hunter Group ASA, DNB Markets, Fearnley Securities

Between the intermittent news of a bank like Beal Bank/CSG Investments, you don’t see much in the way of a commercial lending deal for offshore assets nowadays. Companies: Beal Bank/CSG Investments, Foresight Group, Foresight Drilling, the Abu Dabhi Commercial Bank , Cosco, Oil & Gas Corporation of India , Stephenson Harwood , Norton Rose Fulbright , Alantra, Allianz Middle East Ship Management LLC, SHUAA Capital PSC

Boston University celebrated the launch of the Ravi K. Mehrotra Institute for Business, Markets & Society at the Questrom School of Business on Thursday, September 19, 2024.

“Fortress Balance Sheets,” a term coined by JP Morgan’s CEO, Jamie Dimon, have arguably emerged in shipping. The causes are well discussed, stemming from decades-long highs in shipping earnings from events such as the Ever Given being stuck in the Suez, to long queue times in the Panama Canal, and the unfortunate effects of war. Companies: JP Morgan,

Over the course of 30+ years, there have certainly been entire years of financial performance that the industry would prefer to forget, and there have been years when individual sectors might wish to do the same.

Banks and financial institutions located in the UAE and broader Middle Eastern region boast all the qualities of a good shipping bank, and maybe even more in some areas. Massive balance sheets, competitive terms, what more is there? Companies: Trafigura, Abu Dhabi Exports Office , First Abu Dhabi Bank, Natixis CIB , ADNOC L&S, Navig8, Arab Maritime Petroleum, Gulf International Bank , Foresight Drilling, Foresight Group, Abu Dhabi Commercial Bank, Alantra, Allianz Middle East Ship Management LLC, SHUAA Capital PSC, Euroseas, National Bank of Fujairah, Poseidon Principles

Pelagic Partners (“Pelagic”) has been moving from strength-to-strength. The ambitious Cyprus-based asset manager already has a strong record and history in shipping investment funds, launching Pelagic Fund I in Q3 2020 (closed Q4 2021) which raised $60 million in assets under management (“AUM”). Excellent timing! Companies: Pelagic Partners, Fleetscape Capital, Oaktree, Lloyd’s List , EnTrust Global, Hudson Structured Capital Management, Northern Shipping Fund

The maritime industry has experienced a whirlwind of venture capital (VC) activity over the past five years. A sector dominated by large, capital-intensive players has found itself disrupted by the COVID-19 pandemic and upcoming decarbonization regulations, and in need of innovation which in turn triggered a surge in maritime startups. Companies: Maersk (Maersk Growth), Stolt-Nielsen (Stolt Ventures), Eastern Pacific Shipping (EPS Ventures), Lomar Shipping (LomarLabs), MOL (MOL Plus), Signol, TMV, Ultranav, OceanScore, Oceanis, Lloyd’s Register, Ocean Technologies Group, Oakley Capital, Flagship Founders, Studio 30 50

This week seems to be all about competitive refinancings, and trader/shipowner Trafigura is leading the way. Trafigura recently revealed a massive syndicated revolving credit facility and term loan facilities from thirty-eight financial institutions including five new lenders for a total of $3.2 billion. Companies: Trafigura, First Abu Dhabi Bank PJSC (“FAB”), Standard Chartered Bank Singapore

In April of 2024 the Fifth Circuit decision in Curtin2 shed light on what type of vessel modifications involving foreign made equipment can be done to a coastwise qualified vessel without causing the vessel to be deemed rebuilt foreign and thereby lose its coastwise endorsement.

There is no free ride for shipowners because different markets present different challenges. When the markets are lousy, the challenge is to have the courage to expand by making attractively priced acquisitions. Companies: International Seaways, Diamond S, Star Bulk, Eagle Bulk, Torm, Avance/BW, Pangaea/MTM, Pangaea Logistic, M.T. Maritime Management, DNB Markets, Seward & Kissel

Plano, Texas-based Stonebriar Commercial Finance, an Eldridge Industries business, originating and servicing a portfolio of lease and loan products secured by essential income-producing assets across the credit spectrum, announced this week the closing of a $465 million loan facility for Nautical Solutions, L.L.C. Companies: Stonebriar Commercial Finance, Nautical Solutions, L.L.C., ABS, Tusk Capital Advisors LLC, Phelps Dunbar LLP, Baker Donelson

M&A activity throughout the year has been volatile, but overall, extremely active, as can be seen in the chart below compiling data of M&A deals that we have recorded throughout the year. Companies: MSC, Gram Car Carriers, Adani Ports, Astro Offshore, DOF, Maersk Supply Services, Oaktree, Regulus Offshore, Icon Offshore, Yinson Camellia , Yinson Power Marine, Yinson Production, Yinson Renewables, Yinson GreenTech, Farosson