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Hunter Tankers AS, a wholly-owned subsidiary of Hunter Group ASA, announced last week that it has signed a binding agreement for aloan facility from a syndicate of banks consisting of Danske Bank, DNB, Nordea, and SEB

Be prepared. Scorpio Bulkers took this admonition to heart as it carefully manages its balance sheet to build its liquidity in these uncertain times.

Golar LNG Partners to issue up to $120 million of its 8.75% Series A Preferred Units through an ATM offering managed by B. Riley FBR.

This is not a trick question. For public shipping companies, there may be an option to revert back to a more private life as evidenced by private equity's interest in Teekay Offshore and Seaspan. Initially, private equity was captivated by the cyclical nature of shipping and the possibility of...

Yesterday, the Poseidon Principles Association announced that BNP Paribas, and Credit Suisse, become the 15th and 16th financial institutions to sign on to the Poseidon Principles, joining the original founding signatories.

A slowdown in activity has offered us an opportunity to catch-up with a recent Norwegian bond offering, outside of our traditional purview, which is of interest due to its secured structure, currency, and the environmentally friendly collateral, hybrid-electric powered expedition cruise vessels.

For the seventh time, Diana Shipping Inc. successfully concluded a tender offer for its shares, which commenced on January 3, 2020 and expired on February 3, 2020.

The sale of a business and three Suezmax tankers along with a new 5-year $533 million RCF to refinance existing debt increase Teekay's liquidity and position it for the future.

Making use of the tap features on two previous issues, Odfjell raises NOK 200 million to refinance existing debt.

Although refinancing begins with an immediate problem, CFOs these days are charged not simply with finding an expedient solution, but one that accomplishes much more. No longer is it about simply pushing maturities into the future. The refinancing required should, in addition, position the company for the future by providing financial and strategic flexibility.

What is OET's motive in unwinding its recently concluded VLCC sale-leaseback transaction with Ocean Yield. A lack of flexibility? An issue with the sub-charter? With the vessels having just been delivered last year, it seems unlikely that the transaction could be terminated without an expensive make-whole. But that's up to the arbitrator.

While the equity markets remain quiescent, the Norwegian bond market began the year on fire.

In a single swoop, International Seaways refinanced its debt allowing great capital allocation flexibility and reduced interest expense. The new financing consists of a 5-year $300 million term loan, a 5-year $40 million RCF and a 2.5-year $50 million term loan.

In an upsized offering, Stena successfully raises $700 million in Euro and Dollar denominated notes.

Höegh LNG Holdings Ltd.'s bankers called for investor meetings to consider a new bond issue on Monday and sold the deal on Friday, without apparently breaking a sweat. Perhaps that's typical, but from the perspective of an outsider it was quick work.

Also desirous of having sufficient liquidity, MPC Container Ships traveled to Oslo to successfully raise additional equity in a private placement.

In his report last week entitled "Fear and Pain. Taking a Deep Breath," Amit Mehrotra provides a perspective on the sell-off of shipping equities as a result of accelerating coronavirus fears and what really matters.

With a unique and niche business model, Klaveness Combination Carriers successfully price a new five-year senior unsecured bond issue of NOK 500 million, with a coupon of 3-month NIBOR + 475 bps.

This week, the Schulte Group, one of Germany's largest ship owners and ship managers, and DEVK, a German insurance group, announced the establishment of Navigo Shipholding AG, a maritime asset investment platform for institutional investors, with a long-term investment horizon and a conservative approach to risk-yield ratio, to jointly invest in a portfolio of vessel projects across various segments of the shipping industry.

Dealogic's year-end Marine Finance Rankings – Syndicated Loans report arrived this week, with little in the way of a surprise, after our usual slicing and dicing of the data.