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Lloyds Tsb News

04 Nov 2008

Danaos 3Q, 9 Month Report

Danaos Corporation (“Danaos”) (NYSE: DAC), a leading international owner of containerships, reported unaudited results for the period ended September 30, 2008. •    Net earnings from continuing operations of $28.0 million or $0.51 per share and $93.2 million or $1.71 per share for the quarter and the nine months ended September 30, 2008, respectively, compared to $25.5 million or $0.47 per share and $78.4 million or $1.44 per share for the respective periods of 2007. •    Operating revenues from continuing operations of $76.4 million and $220.2 million for the quarter and the nine months ended September 30, 2008, respectively, compared to $62.6 million and $187.5 million for the respective periods of 2007.

22 May 2008

Eurofin Brokers Turkish Ship Finance Loan

Eurofin brought together the five European banks which have syndicated a $440m facility to Istanbul-based Kiran Holdings. It is the largest ever ship finance loan made to a Turkish shipping company. The loan will cover orders for six new bulkers at Chinese yards. The $440m loan includes $100m of performance guarantees connected to the newbuilding programme. It is a syndicated loan led by the Royal Bank of Scotland (RBS). Dekabank Deutsche Girozentrale, Lloyds TSB Bank, Fortis Bank and Deutsche Schiffsbank are all part of the syndication.  The loan covers orders for two supramax and two kamsarmax bulkers at Wujiazui Shipbuilding and two capesizes at Jiangsu Rongsheng Heavy Industries. The Kiran group controls nineteen bulk carriers and general cargo ships.

07 Nov 2006

UK Returns to Semi-Submersible Rig Building

Britain is to return to the world of semi-submersible rig building for the first time in two decades as prices soar and shipyards in South Korea run out of space. SeaDragon Offshore, a newly-formed company is to take over a former vessel construction facility on Teesside to build the first in a series of three drilling units worth up to $1.5b. As many as 600 jobs could be created at the Haverton Hill Shipyard by SeaDragon which plans to float on either the London or the Oslo stock exchange within 12 months. SeaDragon is backed by Lloyds TSB and has brought in some of the most credible names in the offshore world, including KCA Deutag, a part of the London-quoted Abbott Group, plus naval architects Moss Maritime.