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Carnival Cruise Line Names Campbell CFO

Darrell Campbell (Photo: Carnival Cruise Line)

Carnival Cruise Line said it has named Darrell Campbell as chief financial officer. He joins the U.S.-based cruise operator from parent company Carnival Corporation where he has served as corporate treasurer since 2017.Prior to his role at Carnival Corp, Campbell served as an audit partner at PricewaterhouseCoopers LLP.

Carnival Reports $1.9 Billon Quarterly Loss

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Carnival Corp reported a bigger-than-expected preliminary fourth-quarter net loss on Monday as the cruise operator’s business was brought to a virtual standstill by the COVID-19 pandemic.The world’s largest cruise company’s shares fell 2% to $20.04 in morning trading, after plummeting

Mercuria Teams Up with Envysion for Project Investment

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Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding.The deal, signed on Wednesday, will see Mercuria present potential projects for investment to Envysion,

Suez Canal Annual Revenues Fell 3% in 2020

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Egypt’s revenues from the Suez Canal in 2020 declined 3% to $5.61 billion compared to 2019, the canal authority said in a statement on Sunday.Transit fees for all types of ships would remain unchanged in 2021 and would include reductions and incentives offered in 2020, Canal Authority Chairman Osama Rabie said.

Sherrard Enhances Squire Patton Boggs Commodities and Shipping Capabilities

Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice.

Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice. She joins the firm from Clifford Chance where she was Head of the Asia Pacific Maritime and Offshore Group and is accompanied by senior associate Bernice Chia.

Centerline Logistics Acquires Saltchuk Marine Services’ California Ship Refueling Ops

"As one of the largest bunkering operators in the United States, we are excited about the synergies this acquisition will deliver to our customers," said Matt Godden, President and CEO of Centerline  Logistics. Photo courtesy Centerline Logistics

Centerline Logistics acquired Saltchuk Marine Services’ California ship refueling business, currently operated by subsidiary Foss Maritime Company. According to a press release from Centerline, this "major acquisition" brings together the combined capabilities of two of the nation’s leaders in petroleum transportation,

Fincantieri Hit by Concerns Over Big Capital Increase

(Photo: Fincantieri)

Fincantieri shares fell as much as 6.5% on Thursday on the prospect of a big capital increase by the Italian shipbuilder as it tries to cope with the coronavirus crisis which has hit its customers in the cruise industryBloomberg News reported late on Wednesday the state-owned firm, which has a market capitalization of about 1 billion euros,

Investor EnTrust Global Turns Sights to Green Shipping Assets

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U.S. investment company EnTrust Global, already a player in shipping finance, aims to buy ships that generate lower emissions, an executive said, the latest sign of efforts in the shipping industry to go green.Global shipping accounts for nearly 3% of the world’s CO2 emissions, putting the industry under pressure to clean up.

BW Group Buys 39.1% Stake in Navigator Holdings

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Private equity firm WL Ross & Co. said it has agreed to sell its approximately 39.1% equity interest in ship owner-operator Navigator Holdings to maritime and offshore company BW Group at a price of $9 per share."Navigator Holdings has been an industry leader since we made the initial investment.

Ship Finance Lenders Fall Short of Sector's Carbon Targets

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Many of the world’s biggest lenders to shipping companies fell short of carbon-cutting targets last year in the first analysis of CO2 goals for the sector by financiers, a report showed on Wednesday.Global shipping accounts for nearly 3% of the world’s CO2 emissions and the industry is under

Baltic Exchange Launches New Service for Ship Investors

(Image: Baltic Exchange)

Publisher of maritime market benchmarks, the Baltic Exchange, has launched a new service for shipping investors which provides a snapshot five-year view of the financial prospects of dry bulk carriers.The Baltic Exchange Investor Indices are an easy to use online dashboard displaying data relevant to vessel investment decisions,

EnTrust Raises $2.1 Bln for Its Blue Ocean Funds

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Alternative asset management firm EnTrust Global said Wednesday that it has completed fundraising for its EnTrust Global Blue Ocean Funds for investment in the global maritime industry. The Funds closed at $2.1 billion after raising $925 million since April of 2020.Part of EnTrust Global’s private debt and real asset division,

Baltic Index Dips as Capesizes Slide to Near 6-month Low

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The Baltic Exchange's main sea freight index fell on Tuesday, as concerns over trade frictions between Australia and China on coal shipments sent capesize rates to a near six-month low.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, was down by 41 points or 3.

SEACOR to Go Private in $1 Billion Deal

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Florida-based transportation and logistics firm SEACOR Holdings Inc announced Monday it has entered into a deal with private equity firm American Industrial Partners (AIP) to take the company private in an all-cash transaction valuing it at about $1 billion, including net debt.SEACOR said New York-based

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