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On Tuesday, Euronav NV announced that it entered into a sale and leaseback agreement for the M/T Newton with Taiping & Sinopec Financial Leasing Ltd Co. for a purchase price of $36 million, in line with VesselsValues' appraisal of $36.7 million.

Back in May 2010, Alterna Capital Partners and Western Bulk entered into a joint venture to invest in dry cargo bulk carriers in the 30,000 to 60,000 dwt size segment. Western Bulk was the managing partner, and the plan was to invest in at least four vessels – including both newbuildings and/or trading vessels.

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.

Wednesday's London Marine Money webinar series produced some remarkably stimulating, enjoyable, and thoughtful opinions. I strongly encourage everyone to give a listen to the sessions.

Last week, StormHarbour Securities LLP, a global investment banking boutique, announced that they acted as sole financial advisor for a debt buyout of Stanford Marine Group's AED 1.13 billion ($308 million) facility by SHUAA Capital.

The world is changing and what was appealing in the past might not be as attractive today. The number of shipping companies with a public listing in the 1990s could be counted on one hand, but, with the arrival of the new millennium, interest in going public soared. Investors were attracted to the industry's cyclicality and the dream of being the next Onassis.

Frankly, we were unaware of a "golden rule" when it comes to shipping and somewhat puzzled by Global Ship Lease's recently announced acquisition of seven twenty-year-old containerships, seeing little in the way of upside. Thankfully, Frode Mørkedal of Clarksons Platou Securities was there to explain the rule and the rationale. But first the facts.

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.

Tor Olav Trøim had a dream. Back in July 2014, he and John Fredriksen unwound their long-standing relationship, with Tor Olav deciding to focus his attention on developing Golar LNG Ltd. into a leading integrated LNG provider in the rapidly changing and fast-growing LNG industry.

Due to the surprising number of year-end transactions, one slipped by us and it should not have as it involved the BW Group's continued contribution to industry consolidation.

Success is always worth repeating, particularly for those who are patient and discerning. Beginning in Q4 2019, the tanker market went on a roller coaster ride as the market anticipated the impact of IMO 2020, which was further bolstered by the storage story in the spring of 2020.

As we approach the first anniversary of the lockdown, a look back at the year highlights the devastation of the pandemic on a personal level in terms of lives lost, illness, and joblessness. And while the impact on the economy was significant, it remained somewhat resilient.

Last week, Eagle Bulk Shipping Inc. announced that it had purchased from Scorpio Bulkers the M/V SBI Virgo a high-specification 2017-built SDARI-64 scrubber-fitted Ultramax bulk carrier for $15 million and a warrant for 212,315 common shares of Eagle.
On Tuesday, Star Bulk Carriers Corp. announced that it has entered into an agreement with Scorpio Bulkers Inc. to acquire seven modern vessels, comprising four Kamsarmax and three Ultramax bulk carriers.

It has been a very busy January at Global Ship Lease Inc. ("GSL") and all the activity has been very good for the company and its shareholders. As a first step, the company arranged a new $236.3 million senior secured loan facility with alternative lender Hayfin Capital, the proceeds of which will be used to refinance its 9.875% first priority notes due 2022.

While Scorpio's management team has been clearing the decks at Scorpio Bulk, they have not forgotten its affiliate, Scorpio Tankers where they continue the process of refinancing its debt obligations with the goal of creating further liquidity, improving amortization, and lowering its cost of capital.

Seaspan Corp. has a process. Gather cash; buy ships. This process was enhanced by its recent move to acquire a credit rating in order to access the private placement market, which it made full and quick use of. Back in October, the company priced a Sustainability-Linked Loan of $200 million to increase the size of its portfolio financing program.

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

Last week, ZIM Integrated Shipping Services Ltd. ("ZIM") announced that it had priced its initial public offering ("IPO") of 14,500,000 ordinary shares at a price of $15.00 per share, raising gross proceeds of $217.5 million, well in excess the initial filing amount of $100 million.

Last week, just after Odfjell's issue, Seaspan Corporation, a wholly-owned subsidiary of Atlas Corp., announced that it has successfully priced $200 million in new senior unsecured sustainability-linked bonds in the Nordic bond market.

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.