Articles

Frontline Ltd also reported entering into three senior secured term loan facilities in November 2020 in amounts of $250.7 million, $100.8 million, and $133.7 million, respectively, to refinance two existing term loan facilities maturing in the second quarter of 2021 and to partially finance the LR2 tankers under construction.

Alex Rogan describes the latest addition to the toolkit.

The year in graphs.

Last week, Heidmar Inc., the tanker pooling and commercial management company, announced that Pankaj Khanna has acquired 100% of the shares of Heidmar Inc and all its related companies, including but not limited to Heidmar Trading LLC, from George Economou, who will no longer hold any interest in Heidmar or any related company going forward.

Forgive us for sounding like a broken record when it comes to the subject of stock buybacks. This latest chapter was triggered by the analysts' commentary on Q3 2020 company earnings and the continuing steep P/NAV discount prevalent amongst shipping companies.

After a delay due to the pandemic, CMA CGM SA found a window of opportunity in October to issue new bonds to refinance its outstanding bonds which mature in 2021.

The team at Wartsila explains the what, the whys and the how of the Poseidon Principles.

Matt McCleery looks back at the year.

In its Q3 2020 earnings report, Exmar announced that Exmar LPG BVBA, its 50-50 joint venture with Teekay LNG Partners received commitments of $310 million for the refinancing of the Nordea debt facility that matures in June 2021.

In response to the pandemic, the central banks took action to mitigate its impact on the economy by utilizing their most powerful tool, the management of interest rates. Just when you thought rates could not get much lower, they have been driven for the most part near zero enticing not only homeowners to refinance but corporations as well.

In November 2020, Golden Ocean Group Limited finalized a loan agreement to fully refinance the $425.0 million credit facility that was scheduled to mature in March 2021 and is secured by 14 of the company's Capesize bulk carriers.

George Weltman looks to the north.

What a long and difficult year it has been. Traditionally, we would simply be wishing you a happy Thanksgiving, but the pandemic and the resulting economic collapse have taken our favorite holiday and, if possible, made its significance even more crucial.

Over the years, Sovcomflot has achieved great success arranging project financings. On Monday, the company announced its latest transaction, which involved the refinancing of the two LNG carriers servicing the Tangguh LNG plant, Tangguh Towuti and Tangguh Batur, which are jointly owned and operated by SCF Group, NYK Line, and Samudera.

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Barnabas Finnigan explains.

Campbell Houston draws upon the data to summarize 1,000 pictures.

It was time to report Q3 earnings which for Star Bulk Carriers involves not only reporting the traditional fare, but of particular interest to us, the regular re-working of its long-term debt obligations including the addition of new debt and the refinancing of existing debt.

On Monday, Navios Maritime Partners L.P. ("Navios Partners") announced that it has submitted a proposal to the board of directors of Navios Maritime Containers L.P. ("Navios Containers") to acquire the outstanding common units of Navios Containers not already owned by Navios Partners.

When Bouchard Transportation Co. Inc., the nation's largest privately-held, ocean-going petroleum barge company, announced that it and certain of its subsidiaries had filed voluntary petitions to restructure under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas it brought to a head a festering challenge for the multi-generational family tug and barge business.