Price uncertainty slows scrubber orders at Wartsila

Fuel price uncertainty has put the brakes on scrubber orders at Finnish technology company Wartsila. “While the current pricing and availability of compliant fuels are supportive of investments in scrubber technology, uncertainty regarding future developments and limited delivery capacity for this year have delayed decision-making among some customers,” it said. Roger Holm, the president of Wartsila’s marine solutions business, told TradeWinds that Source:

July 18, 2019

First Ship Lease converts $7.25m in bonds

First Ship Lease Trust (FSL) has almost 175 million more shares on the Singapore Exchange. FSL Trustee Management, acting as trustee-manager of the Roger Woods-led diversified owner, has exercised its right to turn $7.25m in redeemable 7% convertible bonds into stock at $0.04157 Source:

July 17, 2019

AP Moller-Maersk buyback passes $600m with latest swoop

AP Moller-Maersk has snapped up more than $200m-worth of its own shares in a further acceleration of a buyback programme. It means Maersk has now acquired around $630m-worth of stock this summer as part of a $1.5bn initiative. Maersk’s latest purchase comes Source:

July 15, 2019

Piraeus Bank mulls Asian financing partnership

Greece’s Piraeus Bank, a commercial lender that also has shipping loans, said on Friday it is exploring a partnership with an unnamed financing house in the Far East to jointly provide maritime credit to Hellenic clients. “Piraeus Bank announces that it is exploring a potential strategic partnership opportunity with a major Asian Pacific financial conglomerate operating globally, to provide financing solutions to Greek shipping companies,” the company said in a…

July 12, 2019

Ocean Yield revenue continues to hurt bottom line

Depressed revenues continue holding down Ocean Yield profit. For the second quarter of 2019, the Kjell Inge Rokke company posted a $5.3m profit, down considerably from the $35.1m earned in the same period last year. Revenues fell more than 50% in the Source:

July 11, 2019