Finance Sectors News

Maritime trade group the International Chamber of Shipping (ICS) announced plans to host a high-level summit to address the challenge of decarbonization.Responding to a challenge thrown down by industry leaders in Glasgow, during COP26, ICS will work with partners to convene shipowners, ministers, maritime, energy and infrastructure leaders with the challenge of bringing forward a tangible path to decarbonize the sector. The closed-door meeting will be held in London the day after a dinner on June 20…

The Isle of Man Ship Registry has become the first flag state to join the Getting to Zero Coalition, an industry-led alliance working toward decarbonizing the international maritime shipping sector.Established in 2019, the coalition is a partnership between the Global Maritime Forum, the Friends of Ocean Action and the World Economic Forum. Its members include more than 120 organizations from the maritime, energy, infrastructure and finance sectors.The coalition says the development and deployment of commercially viable…

The US-based dry bulk carrier Eagle Bulk Shipping has joined industry group the Getting to Zero Coalition.The group is an alliance of over 90 companies within the maritime, energy, infrastructure, and finance sectors which are committed to the decarbonization of deep-sea shipping, in line with the International Maritime Organization's greenhouse gas emissions reduction strategy and the UNFCC Paris Agreement.Gary Vogel, Eagle Bulk’s CEO, said, “We are constantly working on improving energy and operational efficiencies at Eagle, and while these will continue to be critically important, on their own, they will not be enough to meet the…

Optimarin is growing its staff to effectively handle the growing wave of ballast water management system refit activity.The company, which expects to double its turnover this year, has employed Leiv Kallestad as its new CEO, allowing Tore Andersen, the incumbent, to spend his time enhancing market focus and customer service. In order to handle the expected surge in retrofit installations, expected to peak in 2022-23, Optimarin will now make plans for additional expansion, with growth in the technical and sales departments.Optimarin has now sold 750 of its simple…

Partner Andreas Silcher in Haynes and Boone’s London office represented TMS Cardiff Gas in its contract with Hyundai Heavy Industries of Korea (HHI) for the construction of one 174,000 cubic meter LNG carrier with XDF propulsion, plus an option for a second vessel. In a press release, TMS Cardiff Gas called the order the first in the company’s X Carrier Series of orders, which expands the company’s fleet of managed vessels to 10. The vessel is scheduled for delivery in 2020, when she will enter into a seven-year time charter contract with TOTAL Gas & Power Chartering, Limited. Andreas also represented TMS Cardiff Gas on the charter contract.

Ocean transportation firm, “K” Line Pte Ltd, and Patrick Phoon, Deputy Managing Director of Evergreen Shipping Agency, received the International Maritime Centre (Corporate) Award and the International Maritime Centre (Individual) Award respectively. The Maritime and Port Authority of Singapore (MPA) has honoured ten industry partners who have made outstanding contributions to Singapore's development as a premier global hub port and a leading international maritime centre at the Singapore International Maritime Awards (IMA) 2017. Kawasaki Kisen Kaisha, Ltd (“K” Line) started out as a representative office in 1973. Since then, “K” Line’s business activities have grown to include ship operations, ship management and ship agency.

German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. The lenders - among the biggest backers of shipowners over the past 20 years - are behind up to a quarter of the world's $400 billion of outstanding shipping loans, three shipping financiers told Reuters. This would make them collectively more exposed than banks from any other single country in terms of outstanding debt to the sector. These institutions…

BHP Billiton Chairman, Jac Nasser, today announced a number of changes to the BHP Billiton Board of Directors. Anita Frew has been appointed to the BHP Billiton Board as an independent Non-executive Director, effective as of 15 September 2015. Ms Frew has over 18 years’ experience as a director and chairman on public company boards across a range of global sectors, including chemicals, engineering and finance. She is currently Chairman Designate of Croda International Plc, the speciality chemicals group and Deputy Chairman of Lloyds Banking Group Plc. Mr Nasser said Ms Frew’s appointment reflected the structured and rigorous approach taken by BHP Billiton to Board succession planning…

Electronic Shipping Solutions, a provider of electronic shipping documents, announces four senior appointments to its main Board. These new members bring experience from the shipping, ports, legal and finance sectors to ESS and underpin its expansion into the container shipping market, following the successful roll-out of the ESS CargoDocs solution for electronic bills of lading in the bulk liquid markets. Well-known names from the ports and liner shipping sector, André Toet and Nigel Pusey, join legal expert Noel Buttigieg-Scicluna on the board. Finance specialist Robert Mai succeeds James Fields, who is stepping down. Toet brings 25 years of maritime experience at P&O Nedlloyd, Maersk and Port of Rotterdam to the ESS board.

“Liquidity has come back to some extent,” said Oliver Ebner, Senior Manager, Project and Structured Finance for the National Bank of Abu Dhabi. Ebner is one of a panel of speakers lined up to address a special session on financing the industry in the global economic slowdown at Middle East Money & Ships, the region’s premier networking event for senior executives from the maritime and finance sectors. The conference from 7-8 October 2009 at the Grand Hyatt Hotel, Dubai, will also assess the continued appetite for investment in shipping, the likely pattern for recovery, where the money will come from as well as providing a realistic assessment of the current order book.

Horizon Mobile Communications (“HMC”) is pleased to announce that Mr. Philip Adkins has joined HMC as Managing Director with effect from April 16, 2003. Philip brings more than 30 years extensive experience in senior executive roles as a Managing Director, main Board Director (of a public company) and as a Senior Vice President in multi-national companies in both the maritime and finance sectors. Philip has worked in the shipping industry for P & O Plc (UK) and Jebsens Rederi (Norway) and is qualified as a Chief Engineer (First Class). In 1986 he was invited to join ANZ McCaughan Dyson Securities in the City of London and later, Banque Paribas Capital Markets as a Senior Pan-European telecommunication and energy analyst.