Finance

  • Ernst Russ acquires ships financed by ABN AMRO

    The Ernst Russ Group has successfully completed another transaction and acquired two container ships with capacities of 2,450 TEU and 2,785 TEU and an average age of just under 12 years. ABN AMRO – Global Transportation & Logistics provided financing to Ernst Russ. Purchase price for the two container ships is undisclosed.

  • Safe Bulkers, Inc. Refinances US$74.9 million...

    Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that the Company has refinanced US$74.9 million loans outstanding, with a new loan facility of US$49.6 million and cash on hand of US$17.0 million, resulting in a debt write off of about US$8.3 million.

  • Saudi finance minister tells bond investors...

    Saudi Finance Minister Mohammed al-Jadaan told bond investors during a presentation that the initial public offering (IPO) of Saudi state oil giant Aramco will proceed as planned in 2018, sources familiar with the matter told Reuters.

  • Multinational Oil Companies Offer Over $1bn In...

    This year alone, multinational oil companies have provided more than $1billion in alternative financing for gas projects in Nigeria, and experts say this may be a viable model to unlock the country’s gas potential. 

  • Decline in traditional ship financing sources...

    The decline in traditional ship finance and a lack of provision from regional banks have posed serious challenges to the shipping industry as a whole, but at the same time triggering the rise of alternative funding.

  • U.S. oil prices hit $50 on rising refinery demand...

    U.S. crude oil prices rose above $50 per barrel on Monday and were near last week's multi-month highs as the number of U.S. rigs drilling for new production fell and refineries continued to restart after getting knocked out by Hurricane Harvey.

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Ernst Russ acquires ships financed by ABN AMRO

The Ernst Russ Group has successfully completed another transaction and acquired two container ships with capacities of 2,450 TEU and 2,785 TEU and an average age of just under 12 years. ABN AMRO – Global Transportation & Logistics provided financing to Ernst Russ. Purchase price for the two container ships is undisclosed.

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Russia Open to OPEC Cuts While Mulling Exit Plan

Russia signaled that it would be willing to prolong the production cuts it agreed with OPEC beyond the first quarter of next year if needed, while also making clear its commitment to the deal was not open-ended.

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