Commonwealth Bank Of Australia News

German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) on Monday held a keel laying ceremony for a new new roll-on / roll-off (RoRo) vessel currently under construction Tasmanian shipping and logistics company SeaRoad. It was announced during the ceremony that the vessel will be named SeaRoad I.During the ceremony, the first module for the newbuild, weighing more than 154 tonnes, was lowered by crane onto the blocks, and a coin was placed under the keel in accordance with maritime tradition.At 210 meters long and over 43,000 gross tonnes, the ship will be the largest in SeaRoad’s history.

Shares of ship builder Austal Ltd rise as much as 4.6 pct to A$1.940.Austal said that it has a news contract from the U.S. Department of Defense to build two more Littoral Combat Ships (LCS), bringing the total new LCS orders booked in 2018 CY to four ships. Reportedly, the new award is under the congressional cost cap of $584 mlnSeparately, the Commonwealth Bank of Australia will fund Republic of Trinidad & Tobago with a loan of A$80 mln ($57.40 mln) to assist it to purchase…

Aberdeen, UK-based Verus Petroleum has secured a 12-fold increase in its production – from 1,500 to 18,000 barrels per day in less than a year – with the closing of three recent acquisitions on the UK Continental Shelf.A press release from the petroleum exploration and production services provider said that it  has recently completed three significant acquisitions; an interest in the Babbage gas field acquired from Premier Oil on 6th December, on the back of completing transactions to acquire Cieco Exploration & Production (UK) Limited and Equinor’s Alba field interest in November.The private equity backed independent operator said that these three deals, each with an economic date of 1st January 2018, were funded by a combination of equity, existing cash reserves and debt.

Euronav NV announces has signed a new USD 410 million senior secured amortizing revolving credit facility. The facility has been made available on 16 December 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital purposes. The credit facility was used to refinance the USD 500 million senior secured credit facility dated 25 March 2014 and will mature on 31 January 2023 carrying a rate of LIBOR plus a margin of 2.25%. Hugo De Stoop, CFO of Euronav said: “This new facility will provide a lot of flexibility for Euronav. It is a full revolving credit facility replacing a term loan, it has a lower margin (50 bps lower) than the facility it is refinancing, and it has a much longer maturity.

Tanker shipping company Euronav NV announced it has signed a new $410 million senior secured amortizing revolving credit facility. The facility has been made available on December 16, 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital purposes. The credit facility was used to refinance the $500 million senior secured credit facility dated March 25, 2014 and will mature on January 31, 2023 carrying a rate of LIBOR plus a margin of 2.25 percent. Hugo De Stoop, CFO of Euronav said, “This new facility will provide a lot of flexibility for Euronav. It is a full revolving credit facility replacing a term loan, it has a lower margin (50 bps lower) than the facility it is refinancing, and it has a much longer maturity.

Gold, crude oil and grains surged on Monday while industrial metals slid as investors reacted to escalating tensions between Moscow and Kiev after the Russian military tightened its grip on Ukraine's Crimea region. Concern about supplies pushed up crude oil prices by more than $2 a barrel and wheat and corn by 4-6 percent. Safe-haven buying sent gold prices to four-month highs. Base metals such as copper fell along with shares as investors ditched higher-risk assets and due to worries that a conflict could damage global growth. "Trade sanctions and a general ratcheting up of global tensions could also endanger the fragile global economic recovery now under way, hurting commodity prices in the process," analyst Edward Meir at broker INTL FCStone said.

Diana Shipping Inc. Announces Signing and Drawdown of a US$18 Million Term Loan Facility With Commonwealth Bank of Australia; Announces Time Charter Contract for m/v Crystalia With Glencore. Diana Shipping has announced that it has completed a drawdown of US$18 million, through two separate wholly-owned subsidiaries, under a term loan facility it has signed for up to US$18 million with Commonwealth Bank of Australia. The proceeds will be used to partially finance the acquisition costs of two Panamax dry bulk vessels, the m/v "Melite" and the m/v "Artemis", which were delivered to the Company on January 28, 2010 and August 26, 2013, respectively.