Finance

  • Global Energy vessel purchase just about complete

    Global Energy Development announced on Monday that, further to its announcement on 16 January, the foreclosure process associated with the Transaction B Assets was now complete and the assets had been transferred to Maritime Finance.

  • Cosco Shipping lost 1.44 billion USD in 2016

    The net loss of Cosco Shipping Holdings in 2016 amounted to 9.9 billion CNY (1.44 billion USD), according to preliminary assessment and non-audited finance statement. The Chinese largest shipping company explains the loss with the low growth in demand for container shipping in the world market, as well as the continuing oversupply of tonnage. Cosco Shipping Holdings noted that the industry’s efforts to balance supply and demand were proved as unsuccessful. As a result the weak market throughput and low growth of container traffic lagged behind the pace of traffic growth and costs. This continue to affect the finance statements and hurt the liquidity of the container shipping companies.

  • Cosco Shipping lost 1.44 billion USD in 2016

    The net loss of Cosco Shipping Holdings in 2016 amounted to 9.9 billion CNY (1.44 billion USD), according to preliminary assessment and non-audited finance statement. The Chinese largest shipping company explains the loss with the low growth in demand for container shipping in the world market, as well as the continuing oversupply of tonnage. Cosco Shipping Holdings noted that the industry’s efforts to balance supply and demand were proved as unsuccessful. As a result the weak market throughput and low growth of container traffic lagged behind the pace of traffic growth and costs. This continue to affect the finance statements and hurt the liquidity of the container shipping companies.

  • Iran's annual exports to Oman to hit $600m...

    Iran's exports to Oman reached $390 million over the past seven months and is expected to rise to $600 million by the end of the Iranian year in March, head of the Iran-Oman Joint Chamber of Commerce said on Saturday.

  • DMCC, Turkey plan gold exchange for Islamic...

    Dubai Multi Commodities Centre (DMCC), the free zone authority on trade, enterprise and commodities in the emirate, has signed a MoU with Borsa Istanbul to set up an universal Sharia-compliant gold exchange for Islamic markets.

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Seanergy Announces Proactive Covenant Deferral and Waiver Agreements of its Bank Lending Facilities

Seanergy Maritime Holdings Corp. (the "Company") ( NASDAQ : SHIP ), announced today that it has entered into agreements with four of its senior lenders for the proactive waiver and deferral of the application date of certain major financial covenants. Based on these agreements the Company expects to be in compliance with all major applicable covenants concerning the Company and the respective borrowers or that such covenants will be waived and postponed until the second quarter of 2018.

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Dry bulk ships’ prices are 25% higher, but investment demand is surging

Shipowners’ demand for dry bulk carriers has been steadily growing, as can be evidenced by the surge in S&P activity throughout the course of the past five months. In fact, according to shipbroker Intermodal, prices have surged by 25% over the past eight months. Meanwhile, it’s also worth noting that demand isn’t limited to just one or two ship classes, but rather has been varying from small Handies up to Newcastlemaxes.

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BIMCO ventures into ship finance with BIMCO SHIPTERM

BIMCO presents SHIPTERM as being most useful to small and medium sized shipowners and banks with limited experience of negotiating ship financing facilities. BIMCO expects that all parties involved will save time and money by using SHIPTERM.

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Ship Finance International Limited (NYSE:SFL) missed earnings on 3 occasions

Ship Finance International Limited (NYSE:SFL) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on March 02, 2017. The stock added about 8.3 percent in price since last results when it was at $13.48 a share. Based on the most relevant past-periods data, there is an 71.43 percent probability for this firm’s share price to go up following next quarterly results.

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