Abn Amro News

23 Oct 2019

Corporates Pledge for Healthy, Productive Ocean

Pic: DNV GL

30 companies and institutional investors have signed up to the United Nations Global Compact (UNGC) Sustainable Ocean Principles committing to take action to secure a healthy and productive ocean.UNGC is a special initiative of the UN Secretary-General, the United Nations Global Compact works with companies everywhere to align their operations and strategies with ten universal principles in the areas of human rights, labor, environment and anti-corruption.The signatories to the principles include the container ship and supply vessel operator A.P.

23 Sep 2019

Shipping Sector Sets Course for Zero Carbon

© Yaniv / Adobe Stock

Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050.Achieving this target will…

20 Sep 2019

Global Ship Lease Bags Refinancing Deal

Pic: Global Ship Lease

Global Ship Lease (GSL), UK-based holding company and containership charter owner, has now settled a five-year refinancing of its debt.According to the container ship owner, the new syndicated $268m credit facility is signed with a number of commercial lenders including Credit Agricole Corporate and Investment Bank, ABN AMRO Bank, CIT Bank, Hellenic Bank and Siemens Financial Services.GSL expects to draw down the first tranche of the New Senior Loan, in full, of $230 million shortly…

02 Aug 2019

GasLog Adds New LNGC from SHI

Image: GasLog

Monaco-based shipowner GasLog has taken delivery of the 180,000-m3 GasLog Warsaw liquefied natural gas carrier (LNGC) from South Korea’s Samsung Heavy Industries (SHI) on July 31.GasLog Warsaw is the first 180,000 cbm LNG tanker delivered to the company by SHI. The shipbuilder has a further seven units for GasLog on order.GasLog Warsaw is a 180,000 cubic meter (cbm) Mark III Flex Plus carrier with low pressure dual fuel two-stroke (X-DF) propulsion.The vessel was immediately delivered…

01 Jul 2019

Blockchain Container Completes Maiden Voyage

Pic: Port of Rotterdam

The Port of Rotterdam has announced that the first paperless and fully door-to-door tracked container, based on blockchain technology, has arrived at the warehouse of Samsung SDS in Tilburg.Last year Dutch bank ABN AMRO collaborated with the Port of Rotterdam and Samsung SDS on a blockchain trade initiative, DELIVER. The DELIVER concept fuels process automation and provides value for all actors in the supply chain.Yesterday, they have successfully tracked and instantly financed a shipping container and the Proof of Concept (PoC) phase is complete.

18 Jun 2019

Being Green: Banks Consider CO2 Emissions in Shipping Loans

© Elnur/AdobeStock

A group of leading banks will for the first time include efforts to cut carbon dioxide emissions in their decision making when providing shipping company loans, executives said on Tuesday.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050.Working with non-profit organisations the Global Maritime Forum, the Rocky Mountain Institute and London University's UCL Energy Institute…

17 Jun 2019

Banks Impose Emissions Rule in Ship-Finance

Eleven banks with a combined shipping finance portfolio of $100bn will for the first time integrate climate considerations into lending decisions to incentivize maritime shipping's decarbonization.Named 'the Poseidon Principles', the new rules are a global framework for assessing and disclosing the climate alignment of financial institutions' shipping portfolios, said joint press release from Rocky Mountain Institute, Global Maritime Forum and UCL Energy Institute.Founding Signatories include Citi, Societe Generale, DNB, ABN Amro, Amsterdam Trade Bank, Credit Agricole CIB, Danish Ship Finance, Danske Bank, DVB, ING and Nordea, and represent around 20% of the global ship finance portfolio."As banks…

22 May 2019

TenneT Issues EUR1.25bln Green Bond

Image: TenneT

Netherlands-based transmission system operator TenneT Holding B.V. has launched and priced another Green Bond issue of EUR 1.25 billion, with proceeds set to be used for investing in offshore wind.The Green Bond issue is split in two tranches of EUR 500 million and EUR 750 million with the support of five banks: ABN AMRO, Barclays, HSBC, NatWest Markets and SMBC Nikko."Proceeds will be used to invest in green projects in the Netherlands and Germany to connect large scale of offshore wind to the onshore electricity grid…

28 Jan 2019

Eagle Bulk Shipping Avails Loan Secured by 21 Vessels

Pic: Eagle Bulk Shipping

American shipowner Eagle Bulk Shipping  has announced that Eagle Bulk Ultraco, a wholly-owned subsidiary of the Company, has closed on a new five-year senior secured facility  totaling USD 208.4 million, maturing in 2024. The global transporter of drybulk commodities said that the Facility is secured by 21 vessels, including the M/V Cape Town Eagle which was acquired earlier this month, and includes a term loan of USD 153.4 million and a revolving credit facility of USD 55 million.Gary Vogel…

23 Jan 2019

Eagle Bulk Gets $208M Credit Facility

Image: Eagle Bulk Shipping

Connecticut-headquartered Eagle Bulk Shipping said that its wholly-owned subsidiary Eagle Bulk Ultraco has received a loan commitment from a consortium of banks for a new five year senior secured facility totaling approximately $208 million.According to the company, the Facility will include a term loan equating to approximately $153 million and a revolving credit facility of $55 million, and will be used to refinance the existing debt of Eagle Bulk Ultraco LLC and Eagle Shipping…

11 Jan 2019

First European Shipper Signs Green Shipping Guarantee Program

Pic: ABN AMRO

The European Investment Bank (EIB) announces the signature of the first agreement under its Green Shipping Guarantee Programme (GSGP) through ABN Amro.The EIB will contribute EUR 10.1 million to an ABN AMRO arranged facility to finance the construction of three cement carrier vessels for the Eureka Shipping group, said a press release.The project vessels’ design represents an improvement to the overall environmental performance of the promoter’s fleet, as well as cement carrier vessels currently operating in European waters.

05 Nov 2018

WFW Advises DNB on USD310m Loan to Star Bulk Carriers

Pic: Star Bulk Carriers Corp

International law firm Watson Farley & Williams (WFW) advised Norway’s DNB Bank ASA (DNB), as facility agent and security agent for a syndicate of banks comprising itself, ABN AMRO Bank N.V., BNP Paribas, Danish Ship Finance and Skandinaviska Enskilda Banken AB, in relation to a US$310m loan facility provided to Star Bulk Carriers Corp.Secured on 26 vessels in Star Bulk’s fleet, the facility consists of two tranches: (a) a first tranche of US$240m used to refinance Star Bulk’s debt under five existing facility agreements…

23 Oct 2018

HC2 Holding Mulls Global Marine Sale

Pic: Global Marine Group

The diversified holding company HC2 Holdings announced that it is exploring strategic alternatives, including a potential sale, for its  Global Marine Group (GMG)  subsidiary.As part of this process, Global Marine Holdings, a leading provider of offshore engineering services to the telecommunications, renewables and oil & gas industries through its operating subsidiary Global Marine Systems Limited, has engaged Deutsche Bank Securities Inc. and ABN AMRO Bank as joint advisors to explore strategic alternatives for the business."Since our acquisition four years ago…

22 Oct 2018

Container Logistics Blockchain Pilot Launched in Rotterdam

Pic: ABN Amro

The Port of Rotterdam Authority, Samsung SDS and ABN AMRO are preparing to launch a container logistics blockchain pilot.The pilot will seek to use blockchain technology to build a platform for efficient and paperless administration processes for the international finance and logistics surrounding container transport. The result should make it just as easy to transport, track and finance goods and services as it is to order a book online.Currently payments, administration and…

11 Oct 2018

Fredriksen's Flex Raises $300 Mln for LNG Newbuilds

© Anatoliy Matronyuk / MarineTraffic.com

Flex LNG, controlled by Norwegian-born billionaire John Fredriksen, has raised $300 million in a private placement of shares to help pay for five new vessels costing $918 million, it said on Thursday.Fredriksen's companies typically add high-yield bond issues and bank loans at a later time to pay the cost not covered by share sales.When the vessels are delivered from the yards of South Korea's Daewoo (DSME) and Hyundai (HHI) in 2020 and 2021, Flex LNG will have a fleet of 13 ships, Flex said.Fredriksen himself bought shares for $100 million, cutting his overall stake in the firm to 44.6 percen

09 Oct 2018

Star Bulk Carriers Announces $310mln Loan for Vessels, 50 Scrubbers

File Photo: Star Bulk

Star Bulk Carriers announced that it has entered into a $310 million loan agreement, which includes a $70 million tranche (Green Loan Tranche) that will exclusively finance the procurement and retrofitting of scrubbers for up to approx. 50 vessels in Star Bulk’s fleet. According to a press release from the global shipping company focusing on the transportation of dry bulk cargoes, DNB Bank, acted as the Mandated Lead Arranger, Facility Agent and Coordinator, along with ABN AMRO Bank…

25 Sep 2018

DHT Holdings Gets $50mln for Scrubber Retrofit Project

File Photo: DHT Holdings

The crude oil tanker company operating a fleet of crude oil tankers in the VLCC, Suezmax and Aframax segments, DHT Holdings announced that it has secured commitment to a $50 million financing for its earlier publicized scrubber retrofit project, subject to final documentation.The financing is structured through an increase of the existing $300 million secured credit facility entered into in the second quarter of 2017. The increased facility will bear the same interest rate equal…

27 Jul 2018

Scorpio Bulkers Secures $60 Mln Loan Facility

© Freud Freud / MarineTraffic.com

Scorpio Bulkers Inc. said it has received a commitment from ABN AMRO Bank N.V. and Norddeutsche Landesbank Girozentrale for a loan facility of up to $60 million that will be used to finance up to 60 percent of the fair market value of two Ultramax dry bulk vessels (SBI Perseus and SBI Phoebe) and two Kamsarmax dry bulk vessels (SBI Electra and SBI Flamenco).The loan facility has a final maturity date of five years from drawdown date and bears interest at LIBOR plus a margin of 2.25 percent per annum.The loan facility…

26 Jul 2018

Scorpio Bulkers Gets New Loan Facility

Image: Scorpio Bulkers

Monaco-based international shipping company Scorpio Bulkers announced that it has received a commitment from ABN AMRO Bank N.V. and Norddeutsche Landesbank Girozentrale for a loan facility of up to USD 60 million.The loan facility will be used to finance up to 60% of the fair market value of two Ultramax dry bulk vessels (SBI Perseus and SBI Phoebe) and two Kamsarmax dry bulk vessels (SBI Electra and SBI Flamenco).The loan facility has a final maturity date of five years from drawdown date and bears interest at LIBOR plus a margin of 2.25% per annum.This loan facility…

19 Jun 2018

GoodBulk Launches USD 140 Million IPO

Image: GoodBulk Ltd

GoodBulk, incorporated in Bermuda and headquartered in Monaco, announced that it has launched its initial public offering of 8,500,000 common shares at an anticipated initial offering price between $15.50 to $17.50 per common share. In connection with the Offering, the Company intends to grant the underwriters the option to purchase up to 1,275,000 additional common shares. The Company intends to use the net proceeds of the Offering, together with cash on hand and additional borrowings under the Company’s credit facilities…

04 Jun 2018

GoodBulk Files for a $100 Mln IPO

Photo: GoodBulk Ltd.

GoodBulk, an owner and operator of dry bulk vessels, announced that it has filed a registration statement on Form F-1 with the United States Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of its common shares.Morgan Stanley and Credit Suisse are acting as lead book-runners, Clarksons Platou Securities, Evercore ISI, Pareto Securities and UBS Investment Bank are also acting as book-runners, and ABN AMRO is acting as co-manager for…

31 May 2018

Oldendorff Joins Sustainable Shipping Initiative

(Photo: Oldendorff Carriers)

Dry bulk ship owner and operator Oldendorff Carriers has become a member of the Sustainable Shipping Initiative (SSI), a coalition of global shipping industry companies working toward a more environmentally sustainable maritime industry.Oldendorff joins other SSI members, including ABN-Amro, AkzoNobel, Bunge, China Navigation, IMC Shipping, Lloyd’s Register, Louis Dreyfus, Maersk, Priya Blue, Rightship and Wartsila, who are working together with NGOs Forum for the Future and WWF…

24 May 2018

DESS Aquaculture Adds New 60M Harvest Vessel

Photo: DESS Aquaculture Shipping

DESS Aquaculture Shipping AS, a joint venture between Solstad Farstad ASA (SOFF) and Marine Harvest ASA, took delivery of the harvest vessel “Aqua Merdø” on May 24th 2018. The vessel will commence its 10-year charter contract with Marine Harvest upon delivery at location within few days. “Aqua Merdø” is developed in close collaboration between the owners and Salt Ship Design and has been built by Myklebust Verft, Norway. Long term financing of “Aqua Merdø” is arranged by ABN AMRO Bank N.V.

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

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