Splash » Finance And Insurance
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Get the updated list of the latest news about finance and insurance. Browse Splash 24/7 for more maritime and shipping news. Splash is the world's premier maritime and offshore news site. It is published by Asia Shipping Media, the parent company of Maritime CEO magazine and the Maritime CEO Forum series of events.
Splash » Finance And Insurance
5h ago
The case to cash in and sell secondhand tonnage leads the April issue of Splash Extra, published today. Both newbuild and secondhand vessel prices are exceptionally high (see chart below) at present leading many of the world’s top shipping analysts to advise that owners ought to start looking at sell-off plans. “From a pure asset ..read more
Splash » Finance And Insurance
1d ago
Oslo-listed OSV pure play Golden Energy Offshore Services (GEOS) is getting a new majority shareholder after Oaktree Capital Management offloaded its stake for $39.5m. Fleetscape, a fund managed by Oaktree and closely associated with GEOS chairman Fredrik Ulstein and board member Guillaume Bayol, has sold 39.03% of its holding, corresponding to nearly 196m shares in ..read more
Splash » Finance And Insurance
6d ago
Dutch floater expert SBM Offshore has secured a $250m term loan facility for floating production, storage and offloading (FPSO) vessel construction financing. SBM said that the facility will be drawn in full in the coming days. The tenor of the bridge loan is twelve months with an extension option for another six months. Repayment is ..read more
Splash » Finance And Insurance
1w ago
Singapore offshore vessel player and shipyard Marco Polo Marine, along with its Taiwan-based subsidiary PKR Offshore, has entered into a financing agreement for its offshore wind commissioning service operation vessel (CSOV) newbuild. The financing deal for the purpose-built CSOV, to be named Wind Archer, was signed with Taiwan-based banking holding company Bank Sinopac. The bank ..read more
Splash » Finance And Insurance
1w ago
Singapore’s maritime mantelpiece needs reinforcement, groaning from all the trophies, accolades and awards lavished towards the Lion Republic, the preeminent shipping hub of the 21st century. Meanwhile, an old Asian rival, Hong Kong, is sliding down the ranks fast. Singapore remains the world’s leading maritime hub according to multiple global surveys, the latest of which ..read more
Splash » Finance And Insurance
1w ago
Semisub rig owner Dolphin Drilling has raised NOK432m ($40m) via a private placement of some 72m shares. The company said in Oslo filing the net proceeds would be used to secure adequate runway towards having three out of the four rigs back in operation as well as to provide contingency related to uncertainty about the ..read more
Splash » Finance And Insurance
2w ago
Cyprus-based owner and shipping fund manager, Pelagic Partners, has bolstered its offshore portfolio with an investment in two platform supply vessels. The latest deal has seen the company founded by the Hartmann and Abou Merhi families team up with private investor and manager Borealis Maritime to take over Viking Supply Ships‘ stake in the 2021-built ..read more
Splash » Finance And Insurance
2w ago
Norway’s Shearwater Geoservices, the world’s top seismic vessel player, has completed the refinancing of its long-term debt. The Bergen-based firm has issued a five-year $300m senior secured first lien bond and executed a new $300m five-year bank loan with net proceeds used to repay previous debt. It has also established a $50m revolving credit and ..read more