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Close to this time last year, Star Bulk shook up the headlines with the announcement of its merger with Eagle Bulk, which was finally completed around April of this year. Companies: Star Bulk, Eagle Bulk

Last week, we discussed Diana Shipping’s long list of financing activities in 2024, having recently added to it with an extremely successful and competitive $25 million tap issue from their previous $150 million Senior Unsecured bond issuance. Companies: Diana Shipping, Nordea, Altera Shuttle Tankers, Ocean Yield, TORM, Stena, DFDS, Klaveness Combination Carriers

Marine Money’s 3rd Annual Marine Finance Forum in New Orleans will take place on November 14th, so we thought it would be fun to zoom in the U.S. vessel financing markets this week.

OIL TRANSPORT BACK TO TREND
LINERS CONTINUE TO OUTPERFORM THE OTHER SHIPPING SECTORS

US PROPANE INVENTORIES SURGE TO NEW HIGHS
LINERS OUTPERFORM WHILE OTHER SHIPPING SECTORS STRUGGLE

CAN SEASONALITY SUPPORT VLCC SPOT RATES?
LINERS AND CONTAINERS DOMINATE OTHER SECTORS

For over a decade, private equity has played a recurring role in shipping through various strategies. Following the financial crisis in 2008, many mega-funds identified investment opportunities in distressed situations, arising from depressed trade activity and asset values, as well as in private credit, arising from a liquidity crisis and funding gap. Companies: Brookfield, Oaktree, Golden Energy Offshore, Blue Ocean Partners, Riverstone, TPG Capital, Canada Pension Plan, Viking Cruises , Torm, BlackRock, GasLog (through Global Infrastructure Partners, GIC, Hahn & Co. , Morgan Stanley , SK Shipping, Apollo, Energos

Marine Money’s 25th annual Ship Finance Forum in New York City on November 21 will feature an exciting and animated panel titled: “Finance and Investment Opportunities in the Entrepreneurial Cruise Sector.”

We enjoyed hosting our 26th Marine Money Greek Ship Finance Forum on 15th October 2024 at the Eugenides Foundation. It was a full room with over 300 delegates and speakers with about one quarter travelling in from 23 countries. Company: Navios Maritime Partners L.P.

As we said, the forecast for banks looks fantastic as we blast through the final quarter of 2024—AKA the “Bonus Maker.” Companies: DNB Markets, Avance Gas, BW LPG, Ventura, Petroserv

Recently, we received Dealogic’s “Marine Finance Rankings Syndicated Loans—Third Quarter 2024,” presenting some interesting data points comparing the nine months’ of deal activity each year from 2008 to present and what it means for ongoing themes in our industry.

One private equity investor to enter the shipping industry recently is Brookfield, a New York-listed and Toronto-based investment management company with AUM of around $900 billion. Companies: Teekay, Teekay Offshore Partners, Teekay Shuttle Tankers, Altera Infrastructure Holdings, Altera Shuttle Tankers, Evercore, Altera Shuttle Tankers, SEACOR, Maistros Shiptrade, Angelicoussis Group, Jefferies, Rystad Energy , Kirkland & Ellis and Schjødt, PwC, Knutsen NYK Offshore

The maritime industry is increasingly turning to technology to address challenges around efficiency, decarbonization, and regulatory compliance. Companies: Marine Money, MOL, Stolt

The basic overview of a shipping cycle is a well-known process. Figuring out where you are in it, exactly and in the moment, is a much harder thing to know, especially when the cycle is driven by “non-recurring” or “black swan” events with little to no information to forecast. Companies: Wilson Sons , Gram Car Carriers, Daehan Shipbuilding, Korea Stock Exchange, KB Securities, NH Investment & Securities, Shinyoung Securities, Hengli Heavy Industry , Hong Kong Exchange , Guangdong Songfa Ceramics Co.

“Shipping Funds,” or pools of assets deployed with shipping investments in mind, have become much more popular lately, as we have discussed in previous issues of Freshly Minted. Companies: NRP, Pelagic Partners, Stena, Protrans or European Maritime Finance, Alphard Maritime, Oil and Natural Gas Corp, PwC

In the labyrinthine corridors of the shipping industry, where invisible forces like weather patterns and geopolitical ripples dictate the flow of global trade, data is often the only map. Kpler, a rising star in maritime analytics, has just redrawn that map.

In the recent trend of refinancing, very few have been as active as Diana Shipping in 2024. Companies: Diana Shipping, Danish Ship Finance, Nordea

Last week, we discussed the various sectors in which M&A is presenting itself more frequently, such as shipyards/shipbuilding, and even between financial institutions. Companies: Poten & Partners, BGC, Sage Environmental Partners, OTC Global Holdings, Jefferies, Braemar, Clarksons, SSY, F3 Offshore, Oliver Wyman, Scorpio, DHT

As shipping companies and investors approach new deals vigilantly, those lenders which support them are left waiting with undeployed capital as well. Comapnies: Magellan Group, Danish Ship Finance, Hamburg Commercial Bank , NIBC, DNB, Carnegie Holding AB, Altor

WILL HIGHER TANKER EARNINGS STRETCH INTO 2025 OR EVEN BEYOND?
SHIPPING STOCKS WEAKER