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Finance

Keep informed with daily analysis and insight into shipping’s relationship with financial markets including company results, credit reports and investment decisions

DHT sees weaker VLCC rates ahead

Even in a weaker market, the US-listed company would generate cash because its breakeven level is low

Tankers and Gas DHT

Norden adds ultramaxes to newbuilding order

The Danish company has already agreed a sale and leaseback deal for two of the newbuilding vessels

Dry Bulk Shipbuilding

Precious Shipping chief is optimistic for 2021

The secular recovery in the dry bulk market would be characterised by extreme volatility, according to Precious Shipping’s Khalid Hashim

Thailand Dry Bulk

Taizhou Kouan Shipbuilding seeks restructuring investors

China’s shipbuilding association warned that the backlog of most domestic yards will not last beyond 2021, while the pandemic-led restrictions on entry of foreign owners, crew and service engineers had disrupted many ship deliveries

Asia Pacific Dry Bulk

Safe Bulkers launches at-the-market equity offering

Last week, company executives said deleveraging and maintaining high liquidity were both priorities. At the end of June, Safe Bulkers had liquidity of $119.8m

Europe Cyprus

Temasek pulls out of Keppel bailout deal

On Monday, Temasek subsidiary Kyanite Investment Holdings announced its partial offer for Keppel Corp ‘will not proceed’

Singapore Finance

CSSC Shipping signs leaseback deal for Goldwin-linked product tankers

Ms Jiang is chairman of Goldwin Shipping, which ordered two 56,000-dwt chemical tankers at CSSC’s Chengxi Shipyard 2017

Asia Pacific Tankers and Gas

Star Bulk flags consolidation interest after sale and leaseback deals

Star Bulk says it has no current need to raise further cash after agreeing sale and leaseback deals

International Star Bulk

ICS renews call for green fund to cut emissions

The ICS says while the ‘decoupling’ of CO2 emissions from trade growth seen in the report is encouraging, efficiency gains alone will not see shipping meet its IMO targets

International International Chamber of Shipping

Eagle Bulk sells ageing supramax amid wider losses

The sale of the 18-year old vessel, ahead of a scheduled statutory drydock, generated gross proceeds of $5m for the company

International Dry Bulk

Sembcorp Marine plans rights issue to ‘ride out downturn’

The company warned that if shareholders did not vote for the transaction to go ahead, strenuous efforts to recapitalise and strengthen its balance sheet will be negated and the critical need to address liquidity requirements will fail

Singapore Ship repair

Yangzijiang Shipbuilding profit drops 17% in second quarter

Chief executive Ren Letian says his company will stay close with clients ‘in the seemingly darkest of times’

Asia Pacific Containers
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