Following The Big Welfare Debate at London International Shipping Week 2015 Human Rights at Sea CEO, David Hammond, has proposed three improvements for the maritime welfare sector:
Seaspan Corporation has announced that it has signed a framework cooperation agreement with the China Exim Bank for up to $1bn in export credit facilities. The credit facilities support Seaspan’s purchase of vessels from Chinese shipyards within the next three years.
India could face a dramatic change to its ship financing landscape with the Export-Import Bank of India planning to establish a Maritime Financing Facility (MFF) at the International Financial Services Centre (IFSC) in Ahmedabad, in association with commercial banks. The move is intended to get Indian shipping firms to go for special purpose vehicles (SPVs) when financing deals.
Singapore-listed offshore services provider Otto Marine has entered into an agreement for two long-term anchor handling tug supply (AHTS) charter contracts worth USD25.2 million with a large oil and gas company.
The past couple of weeks have been all about China, when it comes to global financial headlines, as concerns have been rising on whether the current crisis is more than a temporarty blip, before normal service is resumed. In its latest weekly report, London-based shipbroker Gibson noted on China that “certainly, Chinese manufacturers have lost their appetite for commodities which has impacted heavily on demand for coal, iron ore and copper with an obvious impact on the dry cargo market. Some Chinese policymakers call the slowdown “the new normal” and that they have overseen the smooth transition in annual growth from 10 per cent to a still impressive 7 per cent.
Investment in renewable energy must double world-wide to at least $500 billion per year, if expansion targets are to be met, Dr Ahmad Belhoul, chief executive officer of Masdar, Abu Dhabi’s renewable energy company, has said.
Iran's emergence from economic sanctions will help Europe to diversify its energy supplies, but the Islamic Republic will need to invest at least $150 billion in infrastructure to become a major producer, the head of Italy's Eni SpA said on Sunday.
An Estonian-Malaysian consortium has signed a $1.6-billion contract to set up a power plant in southern Jordan, a report said.
The power plant will have a capacity of 470 megawatts (MW), which will be obtained via oil shale, added Jordanian news agency Petra, noting that operations are expected to start in the second half of 2019.
The project would be financed by the Bank of China and the Industrial and Commercial Bank of China and a joint Estonian-Malaysian consortium.
The plant is likely to offer 3,000 employment opportunities.
Navig8 Product Tankers IncÂ has entered into an amended loan facility for USD 128.5 million with Credit Agricole Corporate and Investment Bank (CACIB) and BNP Paribas to provide additional financing for LR1 74,000 DWT product tankers being built at STX Offshore & Shipbuilding Co. Ltd.