En bloc purchases reaching $106.2m may not be the last in the sector as Greek owner is expected to hunt for more offshore vessels
US private equity giant Oaktree Capital Management has sold 2.8m of Torm shares for about $84.6m, over eight months after it abandoned a planned market sale of 5m shares when the stock tanked
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Genco Shipping has closed on a $500m revolving credit facility, expanding its borrowing capacity by 46% from $156m. The facility includes a sustainability-linked feature, with interest rates rising or falling by a margin of 0.05% based on fleetwide carbon emissions targets
Container lines bought up swathes of tonnage during the boom years. Now the market has turned, lower charter capacity will make it harder to cut their cloth to fit
The loan will be used to reduce the greenhouse gas emission intensity of AET’s fleet by 40% in 2030 from a 2008 baseline. The company is aiming to achieve net-zero GHG emissions by 2050
A tighter-than-expected supply and demand balance points to higher average rate levels for the coming year, Jefferies says
While shipping lenders have taken early steps through their Poseidon Principles, aligning portfolios to decreasing CO2 trajectories in line with global targets, this is at times at odds with their beliefs and behaviours in what they are financing, according to a new academic study
Frontline says future tanker capacity is not reflecting projected trade but the addition of 24 Euronav crude carriers will double Frontline’s VLCC position from the first quarter of next year
Belgian tanker giant says it will diversify, decarbonise and optimise its fleet, after its $2.4bn deal to end the battle for control with Norway’s Frontline
Pyxis Tankers has agreed to acquire a 2015-built kamsarmax from Safe Bulkers. It is the tanker owner’ second dry bulk move since announcing a joint venture with an entity controlled by chief executive Valentios Valentis in September
Exit from Höegh Autoliners comes 15 years after Maersk transferred its 12-strong vehicle carrier fleet to Oslo-based pure car and truck carrier operator in exchange for shareholding
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