Swiber-Linked Vessels Seized in Singapore
Three of of Swiber Holdings vessels had been seized in an arrest moved by a syndicate of banks, reports Business Times. All three vessels were arrested at ASL Shipyard, the litigant in the arrest is United Overseas Bank (UOB), acting as security agent for the syndicate of banks that had extended financing to the vessel owner in relation to a sale and leaseback deal. The recent filing for liquidation by Swiber Holdings, an oil and gas business listed on the Singapore Stock Exchange, sent jitters through the markets. Total claims received by struggling offshore engineering group Swiber Holdings stood at about US$288.8 million as at Dec 29, 2016, the group said in an update filed to the Singapore Exchange.
CIT Maritime Finance Steps Into Leasing Market
CIT Maritime Finance has entered into a Cooperation Agreement with RS Platou Finans AS that will help them expand into the leasing market. CIT Maritime Finance offers senior secured loans, sale-leasebacks and bareboat charters to owners and operators of oceangoing cargo vessels including tankers, bulkers, container ships, car carriers, as well as offshore vessels and drilling rigs. “Through this agreement CIT Maritime Finance will have access to the RS Platou Group network of services, which will help us to further build a high quality portfolio of maritime assets,” said C. Jeffrey Knittel, President, CIT Transportation Finance. RS Platou Finans AS was established 2004 as part of the RS Platou Group.
