Oslo-listed Bruton has announced it has received a financing proposal for 90% of the construction costs of two dual fuel LNG very large crude carriers (VLCCs) and has also agreed a Letter of Intent to charter out the vessels to an unnamed global trading house. Established in 2023, Bruton is sponsored by Magni Partners, the investment office of Norwegian businessman Tor Olav Troim, whose roles include Chairman of the Board at Golar LNG. The first two VLCCs, Mount Vision and Mount Horizon, are under construction at New Times Shipyard in China and are scheduled for delivery in July 2026 and […]

Paul Taylor, Global Head of Maritime Industries at Societe Generale, has stepped up to the role of Chairman at the green shipping finance initiative, the Poseidon Principles, taking over from Michael Parker, Chairman of Citi’s Global Shipping, Logistics and Offshore business, who has led the association since its inception in 2019. The Poseidon Principles require financial institutions to disclose the climate alignment of their shipping portfolios with the International Maritime Organization’s (IMO) greenhouse gas emission reduction goals. Taylor has been Vice Chair of the Poseidon Principles from its formation. At the launch of the Poseidon Principles in 2019, Michael Parker […]

Italian banking group Intesa Sanpaolo has finalised a €162.3 million financing deal for Grimaldi Euromed, which will support the acquisition of three ammonia-ready and battery-equipped Pure Car & Truck Carriers (PCTCs). The three newbuild vessels, Grande Egitto, Grande Pacifico, and Grande Oceania, are scheduled for delivery in 2026. With a capacity of 9,800 CEU (car equivalent units) each, they will feature an ammonia-ready classification notation, 5 MWh lithium-ion batteries, 2,500 m2 of solar panels, cold ironing capability, air lubrication technology and a gate rudder to enhance propulsion efficiency. The ships are among 17 new PCTCs ordered by the Grimaldi Group […]