ALPHA BANK IN AN INNOVATIVE MOVE TO PLUG FUNDING GAP
Alpha Bank is to raise $510m from a deal backed by 35 individual shipping loans, arranged and financed by Citigroup. The loans have an average life of two-and-a-half years with a five-year final maturity.
UNCERTAINTY OVER 'SOLUTIONS' TO MEET LOOMING REGULATIONS
With regulatory deadlines looming, it is clear there is uncertainty among shipowners and manufacturers about the "solutions" being developed to meet the demands of these regulations.
EURO 230M DEVELOPMENT OF COSCO'S PIRAEUS TERMINAL ON HOLD
Settlement of differences between the Piraeus Port Authority and Cosco Pacific regarding the Euro 230m upgrade of the port's western pier, terminal III, is on hold until at least November 25.
OPERATIONAL EFFICIENCY AND GROWTH' PAY-OFF FOR DYNAGAS
New York-listed Dynagas LNG Partners reported a 17.8% rise in quarterly profit as the focus on "operational efficiency and growth" pays off to return a net income of $14m in the third quarter.
REGIONAL COOPERATION TO BE FOUNDED AROUND HYDROCARBONS
Greece, Cyprus, Egypt and Israel will step up regional cooperation based around the use of hydrocarbons as Eastern Med countries plan to cooperate and participate either fully or in different sectors.
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Posidonia is organised under the auspices of the Greek shipping community and the five major associations representing Greek shipowner interests: