Articles

The plastic continent — and how to tackle it — may be hogging the headlines, but the shipping industry – frowned upon as a notorious polluter on a massive scale – is also being effectively reined in and compelled by law to go green.

The English scheme of arrangement sits alongside the US Chapter 11 as the ‘go-to’ international restructuring tool of choice. Like Chapter 11, it is used to implement financial restructurings for overly leveraged shipping companies (where local restructuring processes are not able to deliver the restructuring).

This is the first in a series of briefings on the key legal issues which arise in ship leasing transactions. It is against the background of the growth in recent years of different types of such transactions, most of which involve a ‘sale and lease-back’ of one or more ships by a shipowner to a lessor, whether in respect of new or second hand tonnage.

Pacific Basin Shipping Limited announced on Monday an agreement to acquire four dry bulk vessels (see chart below) for a total price of $73.84 million to be partially funded by equity.

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A new dawn for the Brazilian Offshore Sector is approaching, as pro-market O&G policies and positive economic projections encourage investments in the country.

As the regulatory demands on offshore companies continue to grow, it can be hard to determine the right jurisdiction for the ownership and registration of vessels.

The tide is certainly turning in the shipping and offshore sectors. Banks and financial institutions are now increasingly required to justify their investment choices based on sustainability and environmental risk, and public opinion is demanding ever-more urgent action on environmental sustainability. Increasingly, sustainable/green financing is a priority.

leading provider of cargo and load handling solutions, Cargotec Corporation, last Friday, issued two senior unsecured bonds in the amount of EUR 250 million with terms and conditions in line with existing company bond issues.

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The shipping community has been witnessing and responding to a continued growth in the natural gas supply and demand in Asia and beyond. Much of this increase in gas supply will be delivered to the market as liquefied natural gas (LNG).

Launched in June 2019 by the Global Maritime Forum (GMF), the Poseidon Principles (the “Principles”) are the first global, sector-wide, self-governing climate alignment principles among financial institutions.

As many readers are aware, LIBOR will likely disappear in the next couple of years because banks providing sample interest rate quotes to LIBOR’s administrator are expected to stop doing so.

While the summer doldrums have passed, the search for inspiration continues and we found it this time in Ardmore Shipping Corporation's Q2 2019 earnings report.Like every other shipping company, Ardmore is challenged by analysts' valuation of its shares, a task which is a mixture of both art and science.

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The shipping industry has been preparing, or perhaps more aptly termed: bracing for the implementation of IMO 2020 and the worldwide requirement for commercial vessels to consume fuel with a 0.5% sulfur content or less.

Leading shipping banks, responsible for $100 billion in ship finance, signed up in June 2019 to the Poseidon Principles, officially launched at Marine Money.

Follow up on theNavios Maritime Holdings Inc.sale. The Company received consideration of $20.0 million and new five-year service agreements under which NSAC will provide technicaland commercial management services...

Last week,Diana Shipping Inc.announced for the fifth time a tender offer to acquire its own shares. In this latest offer made on September 6th, the company is proposing to acquire up to 1,408,450 shares or about 1.5% of its outstanding shares...

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