Finance

  • 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.

  • Mashreq introduces UAE’s first chatbot

    Mashreq, the UAE’s leading financial institution, has introduced its chatbot – UAE’s First ‘Mashreq Bot’; an Artificial Intelligence agent – programmed to simulate an intelligent conversation with users.

  • 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.

  • UAE economy continues to grow despite economic...

    The UAE Ministry of Economy has published its latest annual report which notes, among other highlights that the UAE remains the region’s most prominent destination for foreign investment. GDP is expected to reach AED 1.8 trillion by end of 2016 and triple in 10 years while the non-oil sector’s GDP contribution in 2015 rose to about 77 per cent at current prices and 70 per cent at constant prices.
     

  • Saudi Arabia's maritime complex seen costing...

    Saudi Arabia expects a huge ship repair and shipbuilding complex that its national oil company Saudi Aramco is developing at Ras al-Khair on the kingdom's east coast to cost over 20 billion riyals ($5.33 billion), energy minister Khalid al-Falih said on Sunday. 

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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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