CQS to Increase Investments in Offshore Rigs

Thursday, October 04, 2007
London-based hedge fund firm CQS Management says it plans to double the size of its investment company that specializes in offshore oil and gas rigs. According to a report by the Financial Times, CQS Rig Finance is hoping to raise an additional $ 101.7m, doubling the amount it has in assets under management. It plans to use the money to invest in debt financing for the construction and refurbishment of rigs and other infrastructure connected with the offshore industry. Former Credit Suisse analyst Mark Conway manages CQS Rig Finance, which launched in December. It has managed to be in the black since then, while some credit funds have suffered heavy losses over the past year due to the recent meltdown. Most of the debt purchased by CQS Rig Finance is issued by Norwegian companies, which dominate the rig-building industry. That debt is rarely graded by credit-rating agencies. [Source: http://www.hedgefund.net]
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

TEN Charters Tanker at 20% Premium

Tsakos Energy Navigation Limited announces two-year charter renewal at a 20 percent premium to prior contract reflecting strong tanker market fundamental, oil price

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

Traders Scramble for Caribbean Crude Storage

Demand for crude storage in the Caribbean, one of the world's most important oil hubs, is rising as producers and traders try to ride out the worst price crash

Offshore

Latest ShipConstructor Update Targets Offshore

With the release of ShipConstructor 2016 R1.1, SSI said it provides additional enhancement for the offshore rig construction market, particularly with regards to weld management.

MODEC FPSO Achieves First off Brazil

MODEC, Inc. announced today that its FPSO Cidade de Itaguai MV26, operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil,

AFBO to Provide Security in Arctic Waters

State of the Arctic Council to establish a new mechanism to strengthen operational cooperation and coordination of activities at sea. This is dictated by the

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.7682 sec (1 req/sec)