Russian maritime shipping company specializing in petroleum and LNG shipping, (SCF Group) has signed a new $297 million limited recourse credit facility to finance its two next-generation LNG carriers.The financing deal, with a duration of up to ten years, was concluded with three international banks – ING Bank, KfW IPEX-Bank, and Crédit Agricole Corporate and Investment Bank.
The Brasil Basin Drydock Company (BBDC), a joint venture of McQuilling Services and Promon Engenharia, is setting up an industrial facility that will drydock and repair seagoing merchant vessels up to the largest merchant ships in the world.McQuilling announced the signing of a Protocol of Intention with the government of the state of Paraíba, Brazil, along with Chinese ship repair yard IMC YY.
As the global cruise industry enjoys it most robust period of growth ever, the question invariably becomes: How long can it last?Cruising, which is a blend of the hospitality and maritime businesses, continues to grow at a historic pace. The Cruise Trends & Industry Outlook publication from Cruise Lines International Association (CLIA) projects a passenger count of 30 million in 2019 – up nearly
NOBISKRUG’s Project 790 is one of the first yachts built under the new strict IMO Tier III emissions regulations. The name and visionary design of the 80-meter hybrid superyacht was unveiled at the Monaco Yacht Show 2018: MV ARTEFACT.Less than a year away from completion, Nobiskrug’s new superyacht MV ARTEFACT will be one of the first yachts built under the new IMO Tier III low emissions
There are studies and reports from classification societies, scientific organizations and governmental agencies assuring maritime industries that carbon-heavy fuel is peaking and will be replaced by 2050, if not by 2035, with zero carbon power alternatives. No question, they chorus, shipping can meet the IMO goals of a 50% reduction in 2008 levels of GHS by 2050.
Solid-State Welding Processes Being Developed for NASA Manufacturing Programs Could Significantly Reduce Workboat Fabrication CostsWhether it is for a tug boat, cargo vessel, or an offshore supply ship, much of the workboat fabrication industry is located along the Southern Coast of the U.S.
China and the United States sank into a deepening trade conflict that roiled financial markets Tuesday after U.S. President Donald Trump threatened to impose tariffs on an additional $200 billion of Chinese products, prompting Beijing to accuse Washington of starting a trade war.Trump said Monday his threat was retaliation for China's decision to raise tariffs on $50 billion of U.S.
The shipping industry has long been criticised by campaigners for allowing vessels to be broken up on beaches, endangering workers and polluting the sea and sand. Now, it is being called to account from a quarter that may have a bit more clout - its financial backers. Norway's $1 trillion Oil Fund, a leader in ethical investing
Dutch banking group ING and the European Investment Bank said they will provide a EUR 110 million ($123 million) loan to Dutch ship management firm Spliethoff’s Bevrachtingskantoor B.V. for retrofitting vessels with exhaust gas cleaning systems.According to a European Commission press release
Russia’s maritime shipping company Sovcomflot has announced that it has entered into a new USD 264 million six-year revolving credit facility with a consortium of five leading international banks.The completion of this credit facility marks the successful finalisation of SCF’s 2018 financing plan, with total new debt capital raised this year amounting to circa USD 900 million
Dubai-based global port operator DP World and the Rwandan government have opened East Africa’s first Inland Dry Port, 20 kilometers from the capital city Kigali and close to the international airport.DP World Kigali logistics hub is a secure, bonded facility spread over 13 hectares and features an Inland Container Terminal (ICT) with modern warehousing capacity, a container yard
Watson Farley & Williams (WFW) has advised ING Bank, London Branch (ING) in connection with a US$87m increase to a US$131m loan facility originally granted to Latsco Shipping Ltd (Latsco) to finance the construction of five new high-spec MR product tankers.The increase has been used to up the number of modern tankers being financed to nine, the last of which was financed in May 2018.