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Finance

Navios Maritime Containers files for a $100 million IPO

Angeliki Frangou. File Photo: SUNY Maritime College

 Monaco-based container ship company Navios Maritime Containers has filed with the SEC to raise up to $100 million in an initial public offering.    The information of IPO was originally provided by the IPO investment manager Renaissance Capital.    The Navios Holdings company run by Angeliki Frangou

Noble Group Sells Kamsarmax Dry Bulker to Aeolian Spirit Shipping

Image: Noble Group

 The commodity trader Noble Group has entered into an agreement with Aeolian Spirit Shipping, a Cyprus company, to dispose a vessel registered in Hong Kong for a consideration of US$23.79 million.  Noble said in a press annoucement that its indirect wholly-owned subsidiary, Core Forte, had on June

China Surprises with Threat on US Energy Exports

© Dale Stagg / Adobe Stock

Beijing surprised oil markets with threats to levy tariffs on imports of U.S. crude oil, natural gas and other energy products on Friday, just as China has risen to the top of the list of importers of oil from the United States.China responded to $50 billion in tariffs imposed by U.S. President Donald

Corpus Christi Gearing Up to Handle US Shale Export Boom

(File photo: Port Corpus Christi)

Port officials on Tuesday are expected to consider $300 million in financing that would prepare the country's largest oil-export port - Corpus Christi, Texas - to handle a surge in U.S. shale production over the next five years.International buyers would like more U.S. crude but are unable to get it

Trump Announces 25% Tariff on Chinese Technology

© zhu difeng / Adobe Stock

President Donald Trump on Friday announced that the United States will implement a 25 percent tariff on $50 billion of goods from China related to intellectual property and technology, and pledged to impose further levies if the Asian nation takes retaliatory measures.Trump said the tariff list includes

China to Impose 25% Tariffs on 659 US Goods

© xy / Adobe Stock

China will impose additional 25 percent tariffs on 659 U.S. goods worth $50 billion in response to the U.S. announcement that it will levy tariffs on Chinese imports, the Chinese commerce ministry said.Tariffs on $34 billion of U.S. goods including agricultural products such as soybeans will take effect from July 6, the ministry said.

International Seaways Completes Acquisition of Six Euronav VLCCs

Photo: Euronav NV

 US-based tanker shipping company International Seaways (INSW) has completed the acquisition of six 300,000 dwt very large crude carriers (VLCCs) from Euronav NV.   The tanker company providing energy transportation services for crude oil, petroleum products and liquefied natural gas announced in

Rotterdam Joins Start-ups for Port of the Future

Photo: Port of Rotterdam

 The Port of Rotterdam Authority has signed partnership agreements with four recent participants in the annual PortXL innovation programme. The products developed by these promising start-ups range from compact tulip-shaped wind turbines to blockchain applications for freight tracking.   Together with 10 other start-ups and scale-ups,

Deutsche Bank Sells $1 Bln Non-performing Ship Loan Portfolio

© anekoho / Adobe Stock

Deutsche Bank has found a buyer for the bulk of its bad ship loans as it seeks to draw a line under sour investments in the sector and to start a fresh push in transport lending, people close to the matter said.Germany's flagship lender has agreed to sell a non-performing ship loan portfolio with a

Royal Caribbean Buys $1 Bln Stake in Silversea Cruises

Manfredi Lefebvre D’Ovidio (left) shakes hands with Richard D. Fain after signing a deal that gives Royal Caribbean a 66.7 percent stake in Silversea (Photo: Silversea Cruises)

Royal Caribbean Cruises Ltd (RCL.N) said on Thursday it would buy a 66.7 percent stake in privately owned Silversea Cruises for about $1 billion to add ultra-luxury and expedition cruises to its fleet.Silversea Cruises, which has nine ships, sails to destinations including Antarctica, the Arctic and Greenland,

INTERVIEW: Natasa Pilides, Cyprus Deputy Minister of Shipping

Photo: MarineLink.com

Natasa Pilides, Cyprus Deputy Minister of Shipping, has held this newly created political post for only three months, but already she has big plans to facilitate the growth of her country’s stature in world maritime circles. In Athens at Posidonia we discuss with her Cyprus’ plan for the development

HSH Nordbank Aims to Buy Shipping Loans from Other Banks

© Kalyakan / Adobe Stock

Germany's HSH Nordbank, once the world's biggest ship financier, aims to buy shipping loans from other banks and make new investments in the industry as it emerges from years of turmoil, a top bank official said.The bank's regional government owners are selling the lender to buyout groups Cerberus Capital Management and J.

EIA: Oil Barrel Price Steady Around $70

EIA expects Brent prices will average $71 per barrel in 2018 before declining to $68 per barrel in 2019. In the June 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts Brent crude oil prices will average $71 per barrel (b) in 2018 and $68/b in 2019.

Euronav Completes Merger with Gener8 Maritime

(Photo: Euronav)

Belgian tanker operator Euronav has concluded its merger with U.S. rival Gener8 Maritime, creating one of the world’s largest tanker shipping fleets.Gener8’s shareholders voted earlier this week to approve the merger, and following the closing on Tuesday, 60.9 million new shares issued to Gener8 shareholders

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