Sovcomflot tank.jpg
Photo: Sovcomflot

Sovcomflot secures credit deals worth USD 1.26 billion


State-owned Russian tanker carrier Sovcomflot has secured new financing for a total of USD 1.26 billion. The money will be used to serve maturing debt and fund the nine tankers which the carrier purchased earlier this year.

Published 09.09.16 at 10:39

Log in to read articles

Some of our content is exclusively for subscribers.

Try ShippingWatch free for 14 days

Get 14 days free trial access

Sign up for ShippingWatch newsletter
Most read Tanker

Höegh LNG signs large orders with South Korean shipbuilders

FSRU Höegh LNG Klaipeda.jpg Tanker:

Gas carrier Höegh LNG has ordered a series of large FSRUs from South Korean shipyards Hyundai Heavy and Samsung Heavy. The ships are set for delivery in 2018 and 2019 and will work on contracts in Ghana and Pakistan.

Team Tankers owners break with Jens Grønning


Team Tankers, formerly Eitzen Chemical, appoints a new CEO from Stolt-Nielsen as Jens Grønning leaves the carrier. ShippingWatch has learned that it was not Jens Grønning's own decision to step down.

Fearnley steps up the dry bulk recovery


The extreme pressure in recent years on dry bulk carriers seems to be letting up, and 2018 in particular looks poised to be a turning point in all crucial aspects, concludes Fearnley Securities in a comprehensive analysis of the dry bulk market.

Endofa sentenced to pay million dollar compensation for failed oil freights


Endofa is sentenced to pay compensation in two cases where the Danish bunker company chartered vessels for oil freights from West Africa, including a d'Amico vessel which transported the cargo for months. Endofa expects no financial losses from the ruling, CFO tells ShippingWatch.

Evergas CEO new head of BW LPG


Danish Martin Ackermann has been appointed new CEO of giant Oslo-listed carrier BW LPG, the world's biggest owner of gas vessels. Martin Ackermann currently serves as CEO of Evergas.

Drewry fails tanker shares for the next two years


Investors will be able to bag solid profits on investments in container and dry bulk shipping in the coming years, but they should stay away from tanker carriers, says Drewry in a new forecast for shipping shares in 2017.

Current front page

Hyundai Merchant to acquire stake in Hanjin's US terminal

Hanjin long beach LA.jpg Container:

The board of directors of Hyundai Merchant Marine has decided to buy a 20 percent stake in collapsed rival Hanjin Shipping's Total Terminals International, which operates container terminals in Long Beach and Seattle.

Media: Cosco preparing offer on OOCL


According to Wall Street Journal, China's Cosco Group is preparing to place a bid of more than USD 4 billion for China's Orient Overseas Container Lines.

Hapag-Lloyd executes its UASC redundancy plan


Hapag-Lloyd has launched the process to streamline UASC and execute its redundancy plan. Rumors are circulating at the soon-to-be former HQ of the Arabic container carrier in Dubai. ShippingWatch can present the new regional manager who will effectively replace UASC CEO Jørn Hinge.

Growing speculation about new billion-dollar acquisition of container carrier


The price for one of the container industry's well-run carriers, Orient Overseas in Hong Kong, is at least USD 4.7 billion, says Alphaliner. The shares in the carrier rose again on Wednesday.

Søren Skou: IPOs most likely solution for Maersk Energy


Maersk Group CEO Søren Skou says in an interview with Bloomberg TV during the Davos summit that he thinks the most likely scenario for the group's energy business is an IPO. Søren Skou also projects increasing global trade.

Thorco Bulk expands with more recruitments


Thornico group's dry bulk carrier Thorco Bulk has built up enough revenue after just six months that it will now expand by hiring more employees. The carrier will gain its own CFO, says Managing Director Marc Slinger to ShippingWatch.