Marine Money Archives

Indonesian Cabotage Regime: Implications for foreign owners, operators and financiers

rwong — Mon, 26 Mar 2012 04:37:58 +0000

Contributed by: Norton Rose: Stephen Woods (Senior Associate, Singapore), Ben Rose (Partner, Singapore) and Susandarini (Partner, Jakarta). In May 2011, broad cabotage rules applying to the...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.

Ezra and Swiber Place Out New Shares for Growth

rwong — Mon, 26 Mar 2012 04:26:18 +0000

On March 9, Ezra Holdings entered into a placement agreement with Credit Suisse and DBS in order to issue 110 million new shares at a price of SGD 1.10 per share, a discount of approximately 8.4% to...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.

China Rongsheng Mulls Over MTNs

rwong — Mon, 26 Mar 2012 04:23:04 +0000

Last Wednesday, China’s largest private shipbuilder, China Rongsheng Heavy Industries, announced plans to issue RMB 3.6 billion (USD 570 million) medium term notes to fund its general working capital...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.

Defaults and Bankruptcies

rwong — Mon, 26 Mar 2012 04:18:36 +0000

The global shipping industry has been grabbing headlines lately, unfortunately for less admirable reasons. As the industry continues to grapple with depressed freight rates due to overcapacity across...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.

Time will tell

rwong — Mon, 26 Mar 2012 04:09:13 +0000

It has been a long time coming, and we all suspect it has been going on for the last year or two, but in the last six months shipping bankruptcies and restructurings have become more public and more...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.

Conference Takeaways

rwong — Mon, 12 Mar 2012 02:43:16 +0000

Cold, wet and grey are the defining characteristics of Hamburg in winter and the same adjectives could well be used to describe the current mood of the shipping industry. At the recent Marine Money...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.

Bank of Communications Signs New Leasing Agreement with CSC Phoenix

rwong — Mon, 12 Mar 2012 02:34:37 +0000

Shenzhen listed CSC Phoenix, a subsidiary of state owned CSC Sinotrans Group, has executed a RMB 375 million (USD 59.3 million) sale and leaseback transaction with Bank of Communications Financial...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.

TeraSea Inks USD 53 million Buyer’s Credit from JBIC

rwong — Mon, 12 Mar 2012 02:30:53 +0000

TeraSea, a joint venture between Singapore listed Ezion Holdings and Seabridge Marine, has secured a USD 53 million export credit loan from Japan Bank of International Corporation (“JBIC”) and...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.

Market Review: Shipping Bond Issuance Hit Record USD 8 billion

rwong — Mon, 12 Mar 2012 02:26:35 +0000

In the past, bonds were hardly seen as a typical source of ship finance. Bond issues by shipping companies were infrequent and were typically sold in relatively small tranches to complement larger...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.

SK Shipping Plans KRW 150 billion Bonds

rwong — Mon, 05 Mar 2012 02:55:10 +0000

Shortly after STX Pan Ocean’s announcement to sell KRW 250 billion (USD 223.5 million) three year convertible bonds, another Korean shipping company is planning to tap the domestic bond market in a...

This is a preview only. Marine Money subscribers can click through to our website to read the full article.