Finance Transactions News

Predictive intelligence tech company Windward has launched Container Insights, a capability that provides live screening and tracking of containers and Bill of Lading (BOL) verification.The new capability, which Windward says enhances the company’s current Cargo Insights, optimizes and increases the efficiency of screening processes for trade finance transactions and enables government agencies to investigate suspicious containers, providing them with a "holistic" view of vessels…

While 2020 proved to be a challenging year for offshore oil and gas markets, the same cannot be said about offshore renewables, which saw substantial growth."It is expected that a number of offshore support vessels (“OSVs”) and crew boats will be redeployed from the offshore oil and gas sector to service the offshore wind industry and that existing offshore wind installation vessels will be upgraded as turbines continue to scale up."Offshore renewable projects achieved an estimated record project sanctioning of US$56bn…

Earlier this year, The U.S. Department of State, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the U.S. Coast Guard issued a new advisory to provide those engaged or involved in trade in the maritime industry with further information and tools to counter illicit shipping and sanctions evasion.The advisory is representative of the U.S. Government’s increasingly detailed efforts towards addressing these issues, as illustrated by OFAC’s recent sanctions actions which show a trend of incremental but clear extension of oversight.

The provider of seaborne transportation services, Danaos Corporation has concluded a $150m sale-and-leaseback deal for two of its biggest boxships with the alternative investment firm EnTrust Global.Watson Farley & Williams (WFW) has advised EnTrust Global’s (ETG) Blue Ocean Funds on the transaction of the two container vessels “HYUNDAI RESPECT” and “HYUNDAI HONOUR” acquired from and chartered back to two subsidiaries of Danaos, said a press release.This is the Blue Ocean Funds’ first sale and leaseback in the Greek shipping market, with the US$150m made available to Danaos, a NYSE-listed global shipping company maintaining a fleet of large size container vessels…

The international law firm based in London Watson Farley & Williams (WFW) has advised CCB Financial Leasing Co., Ltd. (CCBL) on a US$132.8m sale and leaseback transaction of two tanker vessels (VLCC) acquired from and chartered back to two subsidiaries of Globe Shipholding S.A.Globe Shipholding is maintaining a fleet of crude carrier tankers managed by Almi Tankers S.A..CCBL’s transaction with Globe represents the first completed sale and leaseback of VLCCs in the Chinese leasing community. US$132.8m was drawn by Globe under the sale and eight-year capital lease back transaction which was put to various uses including the refinancing of certain bank loans secured on the two tankers.Founded in 2007…

A primer for navigating the ‘ups and downs’ of marine money for domestic stakeholders. Vessel financiers are resourceful and adaptable to changing markets. On the domestic side, financiers of Jones Act and “brown water” assets have continued to serve their customers through shifting shoals in both broader capital markets and in the marine markets – both known for their ups and downs. Marine finance can take many forms. In the broadest sense, funding can be done through loans, where the vessel is owned by the borrower…

Ingram Industries Inc. announced the promotion of Vice President and Deputy General Counsel Eleanor McDonald to Executive Vice President and General Counsel and Secretary, effective July 1. Orrin H. Ingram, President and Chief Executive Officer, commended Ms. She joined Ingram in 2006 as Assistant General Counsel, and before that was in private law practice in Nashville concentrating in mergers and acquisitions, commercial finance transactions and general corporate matters. Ms. McDonald received her juris doctor degree from Vanderbilt University Law School and earned her bachelor of arts degree in political science from the University of Alabama in Tuscaloosa. Ms. McDonald will succeed Bill Morelli, who will retire after 22 years with the company. Mr. Ingram thanked Mr.

Shipping Bond Fund Ltd. A member of the Centre Group and TuftonOceanic have completed what is believed to be the first collateralized debt obligation (CDO) comprised entirely of high-yield shipping bonds. The $50 million CDO, Shipping Bond Fund Ltd., is unique due to its size and the fact that it selected assets solely from a select group of shipping industry bonds with high asset coverage ratios. Centre looks for opportunities to work with experienced partners to structure and provide capacity to CDOs and other asset-backed structured finance transactions through the application of non-traditional insurance and reinsurance products.