Kongsberg Group’s newly announced plans to demerge and list its maritime business and bring together its defence, aerospace and discovery businesses in a single company will give both firms ‘better navigation opportunities and execution capabilities within their respective markets,’ says the Group’s Chair of the Board, Eivind Reiten The Kongsberg Group Board unveiled its proposal to list Kongsberg Maritime on the Euronext Oslo Stock Exchange and create a separate defence and technology entity yesterday (30 October). According to Kongsberg Group, the number of employees and revenue, and results would be relatively evenly distributed between the two companies and both ‘have […]

An agreement on green coastal shipping between Unifeeder and Sagarmala Finance Corporation Limited (SMFCL) is one of a series of Memoranda of Understanding announced by DP World today (30 October) which are intended to drive modernisation and greater efficiencies across India’s maritime sector. The partnership between the DP World subsidiary Unifeeder and Sagarmala Finance Corporation, which is a Government of India Enterprise under the Ministry of Ports, Shipping and Waterways, will focus on developing and scaling sustainable coastal and short sea shipping services across India. SMFCL will use its Maritime Development Fund to develop low-cost financing and credit instruments, while […]

Marine energy group Peninsula has informed ship.energy that it has renewed its $400 million Singapore-based syndicated credit facility. Today’s (24 October) announcement follows on from the renewal of Peninsula’s European banking facility earlier this year and, together with other bilateral lines, brings the group’s total funding capacity to over $1.5 billion. The Singapore facility remains at $400 million, but Peninsula said that several banks were ‘actively seeking’ to increase their commitments during the renewal process. A $75 million accordion option has been embedded, allowing the facility to scale to $475 million. Like the European facility, the Singapore syndicate includes a […]