There are no real values of note in the German shipping sector right now, according to Lloyd Fonds. The company is scaling down its investments in the segment and would prefer to be on the sideline of what CEO Torsten Teichert describes as the endgame in Hamburg.
The Maersk family and its four partners in the investment company Navigare Capital Partners, which will manage pension funds worth over USD 300 million, have injected upwards of DKK 100 million (USD 14 million) in a new fund, which will likely be the first of several funds aimed at investing in shipping.
A new buyer has entered the field as potential buyer of HSH Nordbank, according to the German business media Handelsblatt. The bank has been put up for sale after years of poor results, in particular due to its shipping investments.
Since the turn of the year alone, numerous new financing opportunities have emerged for the shipping companies as alternatives to the traditional shipping banks. ShippingWatch provides an overview below.
According to credit agency Infospectrum, Monjasa faces a huge deficit in 2016, which was also the year that the company was convicted of serious fraud. However, business seems to be back on track. Monjasa confirms the result to ShippingWatch.
The idea that bigger companies enjoy increased interest from major investors will now be put to the test in the wake of the merger between Navig8 and Scorpio Tankers, says Mikael Skov, CEO of Hafnia Tankers, who has IPO plans of his own.
Hapag-Lloyd and UASC are now officially merged after the two container carriers have agreed on the last remaining formalities in the deal. The merger will create the world's fifth-largest carrier by capacity. Get the latest details here.
The Fredriksen-controlled rig unit exits the first quarter with a slide in revenue and an operating result virtually slashed in half compared to the same period last year. A new investor could be about to enter the company.
A fishermen's strike and a fine from Iceland's Financial Supervisory Authority were factors in a reduction of Eimskip's profit in this year's first quarter. Growing expenses in freight rates and fuel also had a negative impact.
The consolidation wave in product tanker is now reality. Robert Bugbee's Scorpio Tankers will merge with Navig8 and issue new shares for USD 200 million. The new behemoth will have a fleet of 105 vessels and will compete directly with carriers such as Torm, Ardmore, and Hafnia Tankers.