German banks have dealt with most of their toxic debt, but are still struggling with bad loans from exposure to the shipping industry.
Dubai Electricity and Water Authority (Dewa) has reached financial closure for the 2,400 MW Hassyan clean coal power project, which uses the independent power producer (IPP) procurement model on a build-own-operate (BOO) basis.
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.
John Fredriksen’s Ship Finance International Limited (SFL), which boasts a $4.3bn portfolio of maritime and offshore assets, has agreed to sell a VLCC tanker to Chinese firm Kunlun Shipping.
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.
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.
SEOUL (Reuters) - Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs
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.
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.
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.
Scanship Holding ASA has through its subsidiary Scanship AS, been awarded contracts with the Italian shipbuilder Fincantieri for the supply of three total clean ship system, featuring food waste processing, garbage handling and advanced wastewater purification to meet the highest industry standard with nutrient removal.