Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Nibc News

19 Mar 2021

NIBC and Damen Extend Lease Partnership

(Image: Damen)

NIBC Bank, Damen Ship Lease and Damen Financial Services on Friday sealed multi-year partnership in the field of ship leasing.The financing from NIBC will be used to enable financial or operational lease solutions for customers of Damen Shipyards Group. This concerns state-of-the-art workboats in offshore energy, including wind and oil and gas, as well as tugs for port activities and other tasks. These leases are offered by one of the funds of the Damen Ship Lease Cooperative…

21 Feb 2019

Rotterdam Port Fund Acquires Stake in ExRobotics

Rotterdam Port Fund has invested in remote inspection robotics company ExRobotics, specialising in robots to operate in high risk environments such as oil and gas facilities.The Dutch robotics firm manfacturers modular robots that can carry out remote inspections of oil and gas facilities more efficiently and with a lower safety risk than those carried out by humans.ExRobotics will be working on the further development of this technology in close collaboration with knowledge institutes in the Netherlands and abroad.The participation of the Rotterdam Port Fund creates new opportunities for ExRobotics to increase its production capacity…

15 May 2018

Financiers Turning the Tide on Shipbreaking Practices

© knovakov / Adobe Stock

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, in February sold its stake in four firms because they scrap on the beach. Three of the firms excluded by Norway's fund - Taiwan's Evergreen Marine, Precious Shipping and Thoresen Thai Agencies (TTA) of Thailand - say they have been unfairly singled out.

31 May 2017

Banks Backs Responsible Ship Recycling Standards

Dutch banks ABN AMRO, ING Bank and NIBC, together with the Scandinavian DNB, announced that they are all introducing Responsible Ship Recycling Standards (RSRS) for their ship financing. The banks took the opportunity of making this announcement during the biannual industry gathering in order to raise awareness with the intention of including more banks into the initiative. The Norwegian fund, KLP, who in 2016 commissioned a report by the International Law and Policy Institute on shipbreaking, had also already taken a stance to reject beaching practices. A collective move to include ship recycling conditions on loans by leading banks and financial institutions with large shipping portfolios is a positive step to imposing responsible practices on ship owners.

09 May 2016

Scorpio Tankers Reports Commitment for New Loan Facility

Scorpio Tankers Inc. announced it has received a commitment from NIBC Bank N.V. for a loan facility of up to $44 million. The loan facility, subject to customary conditions precedent and the execution of definitive documentation, will be used to refinance the existing indebtedness on two 2013-built MR product tankers, has a final maturity of five years from the signing date and bears interest at LIBOR plus a margin of 2.5 percent per annum. The availability can be used to finance the lesser of $22 million and 67.5 percent of the fair market value of the respective vessels.

02 Oct 2015

Epic Gas Secured Credit Facility for 7 Newbuilds

Epic Gas Ltd has closed a new USD 120 million post-delivery senior secured credit facility to finance its remaining seven owned vessels under construction. The facility covers approximately 65% of the contract price of the vessels, and has been closed in partnership with Coordinator, Agent and Book running Mandated Lead Arranger ABN AMRO Bank N.V. Credit Agricole Corporate and Investment Bank and NIBC Bank N.V. also joined the facility as Book running Mandated Lead Arrangers. The Company remains committed to the delivery of a high quality fleet with an outstanding new building program of three 7,500cbm vessels and four 11,000cbm vessels, plus an additional 11,000cbm new building to be delivered under a bareboat charter to Epic Gas.

26 Oct 2011

OSX Obtains US$ 850 Million for FPSO OSX-2

OSX 2 Leasing B.V., a subsidiary of the OSX Brasil S.A., entered into a facility agreement with a syndicate of international banks lead by ING, Itaú-BBA and Santander, related to the granting of a loan in the amount of US$ 850 million, pursuant to the contractual terms, for investment in the construction and installation of the FPSO OSX-2. The facility was initially underwritten by the three lead banks and thereafter syndicated globally. In addition to the lead banks, the financial institutions participating in the syndicate are: HSBC, Citibank, ABN Amro Bank, Banco do Brasil and NIBC. The general conditions of the loan are: average interest of Libor rates + 4.41 % p.a.…

29 Oct 2010

General Maritime Q3 & Nine Months Results

General Maritime Corporation (NYSE: GMR) reported its financial results for the three and nine months ended September 30, 2010. The Company recorded a net loss of $26.0 million or $0.30 basic and $0.30 diluted loss per share for the three months ended September 30, 2010 compared to net income of $14.8 million or $0.27 basic and $0.27 diluted earnings per share for the three months ended September 30, 2009. The decrease in net income was primarily the result of a 31.9% decrease in TCE to $19,109 per day for the three months ended September 30, 2010 compared to $28,077 per day for the prior year period, as well as a $13.6 million increase in net interest expense to $21.4 million for the three months ended September 30, 2010 compared to $7.7 million for the prior year period.