Bnp Paribas News

27 Nov 2019

Jan De Nul orders Offshore Installation Vessel

Photo: Jan De Nul Group

Six months after the offshore installation vessel Voltaire, Jan De Nul Group orders Les Alizés, a floating installation crane vessel from the CMHI Haimen shipyard in China.Together with the Voltaire, this new vessel will be in a super-size class of its own, capable of building the newest generation of offshore wind farms. Les Alizés, that will be ready in 2022, is equipped with a crane having a lifting capacity of 5,000 tons and equally impressive lifting heights. Les Alizés will be able to load out, transport and install multiple units of the largest and heaviest wind turbine foundations.

05 Nov 2019

Ørsted Issues Green Bonds in Taiwan

Image: Ørsted

Ørsted, the largest energy company in Denmark, has secured nominal TWD 12 billion (USD 395m) through the issuance of green senior bonds, to finance its investments in offshore wind in Taiwan. This transaction marks the first ever green TWD bond to be issued by a foreign corporate in Taiwan. The bonds will be issued in accordance with Ørsted’s Green Finance Framework.Ørsted CFO Marianne Wiinholt, said: “We are very pleased with the completion of this historic transaction which is an important step in the financing of the Changhua 1 & 2a project.

20 Aug 2019

Dream Cruises Wins $2.9Bln from KfW IPEX-Bank

Pic: KfW IPEX-Bank

KfW IPEX-Bank, leading a consortium consisting of six international banks, is structuring the financing of two cruise ships for Genting Hong Kong Ltd. and its brand Dream Cruises.The Global Class I and II ships are currently being built in the three shipyards of MV Werften located on the Baltic Coast in the German federal state of Mecklenburg-Western Pomerania.The financing package comprises around EUR 2.6 billion with a total investment volume of just under EUR 3.1 billion.The…

19 Sep 2019

Siemens Gamesa Ups 'Green' Credit to $1.4Bln

Pic: Siemens Gamesa

Wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) has increased the amount of guarantees that qualify as "green" to €1.25 billion ($1.4Bln) as they contribute to the United Nations Sustainable Development Goals (SDG).The deal, arranged with BNP Paribas, adds €350 million to the existing line of €900 million in "green" guarantees arranged with other banks.Siemens Gamesa will use this line to fund its business of manufacturing and selling onshore and offshore wind turbines worldwide…

11 Oct 2019

Iranian Tanker Hit by Missiles, Oil Rises

© PhotoGranary/AdobeStock

Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.The Suezmax crude tanker Sabiti was ablaze and suffered heavy damage after being hit by two missiles, Iranian media reported.Both oil benchmarks recorded their biggest daily rise since Sept. 16, the first trading day after the…

17 Jul 2019

Epic Gas Acquires Four Vessels

Image: Epic Gas

Epic Gas, the liquid petroleum gas (LPG) shipping solutions company, announced that it has completed the acquisition of two of the four ships that it previously referenced in April 2019.The vessels, the Kahyasi and Kris Kin, , are all modern second-hand 11,000cbm Japanese-built pressurised LPG carriers that were built in 2015.The remaining ships, the Kingcraft and Kisber, also both 11,000cbm Japanese-built pressurized LPG carriers built in 2015, are due to complete in July and…

28 Jan 2019

MSC Secures Scrubber Loan For 86 Vessels

Image: MSC

Container shipping giant Mediterranean Shipping Company (MSC) has secured a USD 439 million financing to fit 86 exhaust gas cleaning system (EGCS) or scrubbers  to its fleet.BNP Paribas (BNPP) was the co-ordinating bank and agent on the agreement, together with a syndicate of four other banks as lenders, said the law company Watson Farley & Williams (WFW).The SINOSURE-backed loan would be used to finance the manufacturing and installation of the scrubbers on board 86 container ships owned by the MSC group in light of the implementation of the International Maritime Organisation’s low sulphur c

16 Apr 2019

Ferretti's Owner Aims to List Yacht Maker

Photo courtesy of Ferretti Yachts

Chinese conglomerate Weichai Group, which owns a near 87 percent stake in Ferretti, plans to list the luxury yacht maker but has still to decide a timetable for the deal, the Italian firm's chief executive said on Tuesday."The listing is an opportunity," Ferretti CEO Alberto Galassi said. "Our Chinese investor sees it as a natural evolution of its investment."He added that the formal process for the initial public offering had not yet started, and that it could be difficult to complete the deal by year-end."It is up to shareholders to decide…

15 Apr 2019

MOL, Mitsui Join in Modec FPSO Project

Pic: MODEC

Mitsui O.S.K. Lines and Mitsui & Co have participated in a long-term charter business  operated by MODEC for the purpose of providing a floating production, storage, and offloading system (FPSO) for use in the Area 1 block offshore Mexico and a loan agreement for the Project was entered into on April 12, 2019.Mitsui and MOL invested in Area1 Mexico MV34 B.V. ("MV34"), a Dutch company established by MODEC, which will engage in FPSO leasing, operations and maintenance services.In December 2018, MV34 concluded the charter agreement with Eni Mexico S. de R.L. de C.V.

16 Jun 2019

Credit Agricole Finances Landbridge VLCCs

Pic: Landbridge Group

London-based international law firm Watson Farley & Williams (WFW) has advised Credit Agricole Asia Shipfinance Limited as facility agent on a US$91m term loan facility to a subsidiary of investment firm Sole Shipping Group (advised by Nordisk Legal Services) for the financing of two VLCCs (and scrubbers).According to WFW, the ships will be bareboat chartered to Hong Kong-based Landbridge group, with the leases arranged by Pareto Securities.The lenders were Crédit Agricole Corporate and Investment Bank and BNP Paribas…

14 Jun 2019

Oil Prices Jump 2% After Tanker Attacks

(Photo: Islamic Republic News Agency)

Oil prices settled 2.2% higher on Thursday after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude trade flows through one of the world's key shipping routes.The attacks near Iran and the Strait of Hormuz reignited worries about an impact to flows from the Middle East if insurance companies begin to reduce coverage for voyages through the region and additional shipping companies suspend new bookings, analysts said.Such a disruption "could further exacerbate the supply problem…

30 Jun 2019

Okeanis Gets Funds for Scrubber Retrofit

Pic: Okeanis Eco Tankers

The Piraeus-based shipping company Okeanis Eco Tankers Corp announced that it has secured commitment to a $11 million secured loan facility for its scrubber retrofit project from BNP Paribas.The tankers company, owned by the Alafouzos family, said in a press release that the facility carries an interest rate over Libor of 2.00%, a 5-year tenor, and a 4-year repayment profile beginning one year after drawdown.The  funds are available immediately, and the company expects to draw…

09 May 2019

Polsteam Gets $175mln for 34 Bulkers

Image: Polsteam Brokers

Bank syndicate led by DVB Bank SE completed a $175 million financing of a 34 Bulk Carrier portfolio for Polsteam Group.Polska Żegluga Morska known as Polsteam or PŻM, is a cargo ship operator based in Szczecin, Poland. It has one of the largest route networks in the world, offering services to around 60 countries.The syndicate consisted of DVB Bank, CIT Group, Société Générale, BNP Paribas, Siemens Bank, Crédit Agricole Corporate & Investment Bank and Crédit Agricole Bank Polsk.No further details on the transaction have been revealed.DVB Bank SE…

26 Mar 2019

Can the Cruise Shipping Boom Continue?

MSC Cruises, the industry’s largest privately owned company, is in the midst of a $13 billion expansion which will bring its fleet, following the delivery of MSC Meraviglia in 2017, to 25 vessels by the mid 2020’s. Still on order are four Meraviglia class ships. Photo: MSC

As the global cruise industry enjoys it most robust period of growth ever, the question invariably becomes: How long can it last?Cruising, which is a blend of the hospitality and maritime businesses, continues to grow at a historic pace. The Cruise Trends & Industry Outlook publication from Cruise Lines International Association (CLIA) projects a passenger count of 30 million in 2019 – up nearly 2 million from the previous year. By year end 2019 CLIA members – a veritable ‘who’s who’ of the largest brands – will have 272 vessels…

15 Jan 2019

Barclays Rejects Arctic Drilling

Image: NERC

U.K.-based international bank Barclays  announced a new energy policy that significantly restricts the bank’s financing for the exploration or extraction of oil and gas in the Arctic.The policy  rules out funding for companies seeking to drill in the Arctic Refuge as well as other climate change threats.According to the British multinational investment bank and financial services company headquartered in London, arctic oil and gas refers to new exploration and extraction of oil and gas in the area within the Arctic Circle which is subject to sea ice…

29 Oct 2018

Okeanis Eco Tankers Gets Funds for Two VLCC Newbuilds

Photo: Okeanis Eco Tankers

Alafouzos family backed Greek tanker company Okeanis Eco Tankers has secured firm commitments for two secured loan facilities for an aggregate amount of $116.3 million from Credit Suisse AG and BNP Paribas in respect of the financing of two of its VLCC newbuildings, under construction at Hyundai Heavy Industries.According to a press release from Piraeus-based shipping group, the Facilities each carry an interest rate over Libor of less than 2.5%, a 6-year tenor, a blended average repayment profile of 17.5-years…

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…

07 Aug 2018

MSC Cruises Pact for USD 1.7bln Loan for New Seaside EVO Ships

Image: MSC Cruises

Cruise liner MSC Cruises has reached an agreement for an EUR 1.5 billion (USD 1.74 billion) financing for two new Seaside EVO class cruise ships.BNP Paribas, Unicredit and Cassa Depositi e Prestiti will provide EUR 1.5bn in financing for two Seaside EVO class passengerships. The financing syndicate of lenders also include SACE SIMEST, the Italian ECA, fully backing the credit line and stabilising the interest rate.The first ship is expected to be delivered in May 2021 and the second in February 2023.

18 Jul 2018

Marlink's €622m Dividend Recapitalization Loan Pulled

A €622m-equivalent dividend recapitalization and refinancing loan for Norwegian satellite navigation group Marlink has been withdrawn from the market, sources familiar with the situation said.The leveraged loan for Marlink, which is owed by private equity firm Apax Partners, has run into the turbulence that has hit the European market in the last month, as investors call for better terms and conditions.A combination of increased dealflow and poor secondary trading levels on loans signed earlier this year is helping investors to push for higher pricing and stronger documentation."Several deals have struggled recently. We've seen terms changing and ultimately the market was simply not in a receptive place for this one (Marlink)…

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…

04 Sep 2018

Gulf Platforms Shut ahead of Hurricane

© Robert Cocquyt / Adobe Stock

U.S. oil prices edged up on Tuesday, rising back past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane.U.S. West Texas Intermediate (WTI) crude futures were at $70.04 per barrel at 0034 GMT, up 24 cents, or 0.3 percent from their last settlement.Anadarko Petroleum Corp said on Monday it had evacuated and shut production at two oil platforms in the northern Gulf of Mexico ahead of the approach of Gordon, which is expected to come ashore as a hurricane.International Brent crude futures…

28 Sep 2018

CMA CGM Inaugurates the Incubator ZeBox

Image: CMA CGM

Rodolphe Saadé, chairman and chief executive officer of CMA CGM Group  and French minister in charge of transport Elisabeth Borne inaugurated ZeBox, a new start-up incubator and accelerator in Marseilles.Initiated by CMA CGM, ZeBox is a human-sized incubator and accelerator with two objectives: Support start-ups throughout their development by immediately projecting them into an international dimension; and enable large companies to benefit from the innovations developed by these start-ups in their respective business sectors.On the occasion of the inauguration of ZeBox…

13 Dec 2018

Quantum Pacific: $40m 'Green Loan' for Scrubbers

Image: Quantum Pacific Shipping Services

Singapore-based Quantum Pacific Shipping (QPS) has received a loan from BNP Paribas to finance the purchase and installation of exhaust gas cleaning systems on its vessels.The loan up to $40 million is arranged on Quantum Pacific’s behalf by its management company Eastern Pacific."BNP Paribas is the lender, agent and security trustee for the Green Loan, which finances the cost of purchasing and installing marine exhaust gas cleaning systems (Scrubbers) for 16 vessels under the QPS fleet…

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

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