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Photo: Epic Gas

Epic Gas on target with refinancing

Carriers:

Singapore-based Epic Gas has secured a USD 90 million refinancing deal with three banks in order to fund 14 LPG vessels. The proceeds from the new loan agreement have been used to repay debt on existing loans.


BY SØREN PICO
Published 03.04.17 at 11:31

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Most read Carriers

Competitors overtake Maersk Line in 2017

CMACGMMARCOPOLO.jpg Carriers:

2017 showed the first signs of improvement in the struggling container market, according to a comparison of first quarter results from the major carriers carried out by SeaIntel. It also shows that Maersk Line has fallen behind several of its competitors on the earnings front.

Hapag-Lloyd's deal with UASC will be presented next week

Carriers:

The deals between Hapag-Lloyd and UASC have been signed and the merger is thus finalized after a delay of almost two months. There are many indications, however, that the announcement of the deal will not take place until next Wednesday.

Cosco to invest a billion dollars in tankers

Carriers:

Cosco's tanker division plans to expand its fleet with investments totaling USD 1 billion, reports Tradewinds. The investments will concern vessels set for delivery between 2019 and 2020.

Alphaliner: The orderbook has never been smaller

Carriers:

Container carriers' orderbooks are smaller than ever in terms of how large a percentage it makes up of the existing fleet, according to a new study from Alphaliner.

MAN pays back USD 8 million in engine fraud case

Carriers:

MAN Diesel & Turbo will pay back USD 8 million to Norwegian carrier Skaugen in the protracted fraud case related to diesel engines which used more fuel than stated in contracys. "MAN Diesel & Turbo SE has substantial outstanding claims against Skaugen," says MAN in a comment to ShippingWatch.

Analysts: Maersk Line headed for billion-dollar improvement

Carriers:

An improved profit of no less than USD 1 billion for 2017 may sound like a bold prediction from Maersk Line, but Danish and international analysts speaking to ShippingWatch all seem confident that CEO Søren Skou is on track to reaching his goal. The group's first quarter results will be released Thursday.

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Lloyd Fonds: Endgame underway for shipping in Hamburg

Torsten Teichert.jpg Services:

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.

CMA CGM achieved a profit in strong Q1

Container:

Container carrier CMA CGM increased its net earnings in the first quarter 2017, which marked a big improvement compared to the same period last year. The acquisition of APL contributes positively to the business for the first time.

Monjasa confirms deficit of USD 26 million

Offshore:

Danish bunker group Monjasa presented financial figures Tuesday showing a USD 26 million loss. "It's hard to protect yourself from a global shipping crisis," says CEO Anders Østergaard. First quarter 2017 saw a profit, informs the company.

Competitors overtake Maersk Line in 2017

Carriers:

2017 showed the first signs of improvement in the struggling container market, according to a comparison of first quarter results from the major carriers carried out by SeaIntel. It also shows that Maersk Line has fallen behind several of its competitors on the earnings front.

The Gothenburg port conflict enters a new stage of deadlock

Ports:

The Port of Gothenburg has now been hit by APM Terminals' lock-out in the intense conflict with port workers. For this reason, the port company has been forced to limit service throughout the rest of May and the month of June. Customers are leaving the port due to the conflict.

MPC Capital is now buying container ships

Services:

German asset manager MPC Capital has now tapped into USD 100 million the company raised back in April. MPC has purchased seven container ships, while another six are headed for delivery. Hamburg Süd's CEO will join the board of directors at MPC Container Ship.

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