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Finance

GMT Invests in Argo Travel Group

Image: Argo Travel Group

Global Marine Travel, a Florida-based travel management company to the maritime industry, has partnered with the Greek travel firm Argo Travel Group to enhance its travel offering, particularly in terms of service delivery and driving growth in the Greek and international markets."In Argo, Global Marine Travel,

Verdane Invests in Danelec Marine

Photo: Danelec Marine

Northern European growth equity investor  Verdane Capital has taken a majority stake in the Denmark-based maritime hardware and software company Danelec Marine.Under the agreement, which was signed December 31, 2019, Verdane assumes a majority shareholder position in the privately held corporation.

Ingalls Shipbuilding to Fund STEM Projects

Photo by Derek Fountain/HII

America’s largest military shipbuilding company Huntington Ingalls Industries (HII) Ingalls Shipbuilding division has awarded $99,592 in grants to 28 STEM-related initiatives from schools and educational organizations in Mississippi and Alabama.According to a press note, this is the program’s 12th year.

Höegh LNG Secures $80M Loan

Image: Höegh LNG

Norway-based floating liquefied natural gas (LNG) giant Höegh LNG said it has secured $80 million to refinance an existing bond loan maturing in June 2020."The facility is provided by three of the company’s relationship banks and will be used to refinance part of the HLNG02 bond loan

Prosafe Misses Payment to Cosco

Image: Prosafe SE

The largest and most versatile fleet of semi-submersible accommodation vessels in operation worldwide Prosafe SE has missed its final payment to China’s Cosco shipyard for the Safe Notos flotel.Offshore accommodation specialist  informed last November that it had re-evaluated its outlook and revised

TORM Secures $496M for Debt Refinancing

Image: TORM

Denmark-based product tanker company TORM has obtained a commitment for a total of USD 496 million from a syndicate of lenders to refinance its debt and bolster its capital structure.The carrier of refined oil products said the total amount is a combination of two separate term facilities and a revolving credit facility,

Court Orders DP World's Rights Restored for Doraleh Port

A London arbitration court has ordered Djibouti to restore DP World's right to operate the Doraleh Container Terminal as detailed under a 2006 concession deal within two months or pay damages, the state news agency WAM reported on Tuesday.The government of Djibouti seized the terminal from Dubai government-controlled

Seacor Borrows $200M for SEA-Vista

 Eric Fabrikant, Chief Operating Officer. Photo: Seacor Holdings

Florida-based marine services company Seacor Holdings said that its indirect wholly-owned tanker subsidiary SEA-Vista entered into an amended and restated $200 million credit agreement, which refinanced its existing credit facilities, with a syndicate of lenders led by JPMorgan Chase.The agreement provides

Awilco LNG Fully Refinances LNG Carriers

Image: Awilco LNG

Norwegian based fully integrated pure play LNG transportation provider Awilco LNG ASA has announced the successful closing and completion of a 10-year sale/leaseback facility with CCB Financial Leasing Co. Ltd. (CCBFL) for the WilForce and the WilPride LNG carriers.Both vessels have been sold for a gross consideration per vessel of USD 175.

US to Invest in Marine Highways

Photo: U.S. Transportation Secretary Elaine L. Chao

The US Department of Transportation’s Maritime Administration (MARAD) has will invest $7.5 million in nine Marine Highway projects as it looks to make the movement of cargo and people at sea and on land more efficient.The funding, provided by MARAD’s America’s Marine Highway Program,

SGRE Reaches $1.9Bn Green Guarantee Lines

Image: Siemens Gamesa Renewable Energy

Siemens Gamesa Renewable Energy (SGRE) has announced that in less than a year, and aligned to its commitment to sustainability it has accumulated €1.72 billion ($1.9Bn) in green guarantee lines."SGRE is moving forward in its strategy of making sustainability a key element of all aspects of its business,

KN Bags $148Mn Loan for its LNG Terminal

Image: Klaipedos Nafta

The Nordic Investment Bank (NIB) and Lithuanian liquefied natural gas (LNG) and oil terminal operator AB 'Klaipedos Nafta' (KN) have signed a EUR 134.1 million (USD 148 million) loan agreement to optimize costs of LNG terminal.The 25-year maturity loan will be directed to finance the rent payable

Shipping Industry Brings $25Bn to UK Economy

Image: UK Chamber of Shipping

The UK shipping industry brings in a remarkable GBP 19 billion (USD 25Bln) to our economy, an increase of 41% from 2010, and directly supports 181,000 jobs, UK Chamber of Shipping said quoting a new report from the Center for Economics and Business Research (Cebr).  The Chamber, which represents nearly 200 members,

Hornbeck Offshore Delisted from NYSE

(File photo: Hornbeck Offshore Services)

Hornbeck Offshore Services announced its common stock has been delisted from the New York Stock Exchange (NYSE) on December 20, 2019, and that the company began trading on the OTC Pink marketplace effective December 23, 2019.The NYSE announced that Hornbeck stock was was suspended from trading because

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