Investment Bank News

The lush river valleys of El Zaino y La Arenosa in western Panama, home to hundreds of families that eke out a living farming, fishing and raising cattle, could soon be submerged by a massive man-made reservoir designed to ensure the viability of the Panama Canal in the face of a changing climate.Tres Hermanas, with its farms, two schools, churches and a medical clinic, is one of dozens of towns that would disappear in the next six years if the state-owned Panama Canal's ambitious $1.6 billion project goes ahead.

The lush river valleys of El Zaino y La Arenosa in western Panama, home to hundreds of families that eke out a living farming, fishing and raising cattle, could soon be submerged by a massive man-made reservoir designed to ensure the viability of the Panama Canal in the face of a changing climate.Tres Hermanas, with its farms, two schools, churches and a medical clinic, is one of dozens of towns that would disappear in the next six years if the state-owned Panama Canal's ambitious $1.6 billion project goes ahead.

Nordic Investment Bank (NIB) has signed a seven-year loan to co-finance ferry operator Norled AS’ investments in zero and low carbon vessels and related land-based infrastructure in Norway during 2024-2030.The InvestEU program supports the loan under NIBs Framework Operation Green Mobility and Transport approved by the Investment Committee.This NOK 500 million (EUR 43.4 million) loan will help Norled finance the extension of its low-carbon fleet. This is NIB’s first InvestEU loan in Norway.Norway is electrifying its transport network at a rapid pace…

This is the dawning of the age of AI and Big Data, huge agglomerations of new and transformative energy; almost self-generating, always strengthening and pulling at the reins, seeking to break free and run, a prospect both exciting and terrifying. That image can imply a human is holding the reins. How quaint: these days, AI itself may be holding the reins.In a review of innovation in 2023 – across any industrial or economic sector, not just maritime – AI looms large, a game-changer equivalent to IBM’s programming advances in the 1940s.

Italian shipbuilding group Fincantieri held a steel cutting ceremony to mark the start of construction on a new Hydro-Oceanographic Ship (N.I.O.M.) for the Italian Navy.Scheduled for delivery from the integrated shipyard in Riva Trigoso-Muggiano in 2026, the new vessel is intended for mapping and scientific monitoring activities, as well as in support of the initiatives of the Hydrographic Institute, took place today at the Riva Trigoso shipyard.The ship will feature technologies to contain emissions…

A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.Attacks in recent days on ships in the major Red Sea shipping route have raised the spectre of another bout of disruption to international commerce following the upheaval of the COVID pandemic, and prompted a U.S.-led international force to patrol waters near Yemen.The Red Sea is linked to the Mediterranean by the Suez Canal…

The disruption to energy flows in the Red Sea is unlikely to have large effects on crude oil and liquefied natural gas (LNG) prices as vessel redirection opportunities imply that production should not be directly affected, Goldman Sachs said.Oil prices advanced on Tuesday, extending gains from the previous session, as attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.Oil major BP temporarily paused all transits through the Red Sea and oil tanker group Frontline FRO.OL said on Monday its vessels would avoid

Edda Wind announced it has entered into a green term loan facility agreement for the pre- and postdelivery financing of four new commissioning service operation vessels (CSOV) under construction at Vard.The agreement is a €161 million green loan facility with Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, DNB Bank ASA and SpareBank 1 SR-Bank ASA, with expiry in 2029 and a profile of 12 years. The facility corresponds to a leverage ratio of 60% of the total ready…

Swiss-based MSC, the world's biggest container shipping company, has offered to buy almost half of the main operator of Hamburg port in a deal that could be worth nearly 1.3 billion euros ($1.4 billion), setting the stage for a potential bidding war.Shares in HHLA, which runs Germany's biggest port, soared 49% to a 19-month high as shortly after Wednesday's announcement German logistics billionaire Klaus-Michael Kuehne said he was considering a counter offer."We are examining the submission of a public takeover bid, but would prefer an agreement with the city of Hamburg on privatization - be i

Morgan Stanley's infrastructure investment arm is teaming up with U.S. maritime, energy and logistics solutions company Crowley to advance offshore wind energy solutions for the United States.Investment funds managed by Morgan Stanley Infrastructure Partners (MSIP), a private infrastructure fund platform within Morgan Stanley Investment Management (MSIM), will hold a majority stake in Crowley Wind Services Holdings, a joint venture combining Crowley's end-to-end maritime and logistics capabilities with the financial strength and expertise of Morgan Stanley.

The OPEC Fund for International Development has signed an agreement with the International Renewable Energy Agency (IRENA) to join the Energy Transition Accelerator Financing (ETAF) platform.The platform is a global initiative that seeks to mobilise funds for renewable energy investments. The OPEC Fund plans to support the platform with up to USD 250 million financing until 2030 to finance renewable energy solutions in its partner countries.The ETAF platform, established by IRENA and backed by the United Arab Emirates, initially aimed to mobilise at least USD one billion of capital by 2030.

Scotland's new First Minister Humza Yousaf and Just Transition Secretary Màiri McAllan this week visited Port of Aberdeen's £400 million South Harbour expansion.According to Port of Aberdeen, the duo heard firsthand how the port "supports Scotland's Just Transition and creates new opportunities in energy, trade, decarbonization, and tourism."Senior leaders from the port, Aberdeen & Grampian Chamber of Commerce, Energy Transition Zone and Opportunity North East met with Yousaf and McAllan to discuss the economic opportunities and challenges facing the region's key industries…

Florida Marine Transporters LLC Holdings has completed a refinancing with  a unit of TCW Asset Management Company LLC.Investment bank Carl Marks Advisors announced it facilitated the transaction.FMT, headquartered in Mandeville, La., is one of America’s largest independent, family-owned, Jones-Act-compliant marine transportation companies, providing liquid petrochemical, chemical cargo, and dry cargo transportation services in the inland waterways of the United States, primarily the Gulf intercoastal Waterway and Mississippi River System.

Qilak LNG plans to invest $5 billion in a proposed liquefied natural gas (LNG) facility in Alaska's North Slope to compete with Russia's Yamal project for Asian customers towards the end of this decade, its chief executive said. Major LNG importers such as Japan, South Korea, and Taiwan are rethinking Russian supplies after sanctions on Moscow after it invaded Ukraine and more natural gas could be needed to produce lower emission and alternative fuels as nations try to reduce their carbon emissions.

UK-based offshore vessel operator North Star has secured a £140 million (currently around $171 million) financing package.The company, building a fleet of service operation vessels for offshore wind operations, said Tuesday it would use the funds to support the next phase of its ambitious offshore wind growth plan.The investment includes a £50 million commitment from the Scottish National Investment Bank (The Bank), as well as IFM Investors, Edmond de Rothschild’s BRIDGE, and RBC Capital Markets."The Bank’s investment aligns with its mission to support Scotland’s transition to net zero…

The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude.As Western shipping and maritime services firms steer clear of Russian oil to avoid falling foul of sanctions or harming their reputations, new companies have leapt into the void, and they're snapping up old tankers that might normally be scrapped.The European Union banned all seaborne Russian crude imports from Dec. 5, with a fuel import ban to follow in February.

The global offshore wind industry is staring down a potential shortage of foundation installation vessel capacity. A new UK company led by former offshore drilling executive Jon Oliver Bryce intends to help tackle this challenge as the industry’s first pure-play foundation installation vessel (FIV) firm.The number of planned offshore wind projects globally is growing, spurred by green targets and a shift away from Russian oil and gas. This growth, alongside a shift toward the next generation of larger offshore wind turbines…

Soaring demand for U.S. liquefied natural gas (LNG) as buyers steer clear of Russian fuel is putting some long-stalled U.S. export projects back on track. But rising costs for materials and labor threaten to snarl these plants once again.Two developers with projects sidelined due to the U.S.-China trade war – Energy Transfer with its Lake Charles LNG and Tellurian Inc with its Driftwood LNG – have begun talks with construction provider Bechtel Group over costs, according to a…

Supplies to U.S. liquefied natural gas export plants reached near record levels over the weekend as vessels docked for loading at all seven export terminals for the first time, according to Refinitiv.Venture Global received permission on Friday from federal energy regulators to load LNG on the first commissioning vessel at its Calcasieu Pass export plant in Louisiana. The Yiannis tanker will likely be the first vessel to pick up a cargo from the facility, according to data from Refinitiv.On Saturday…

A group of European development banks plan to double its funding for global efforts to stop plastic waste from polluting the world's oceans to 4 billion euros ($4.6 billion).The Clean Oceans Initiative, led by the French and German development banks and the European Investment Bank is the largest such grouping targeting plastic pollution of the sea.Around 8 million tonnes of plastic waste enters the oceans every year, most of it discarded on land or washed into rivers, the group said on Friday…

Engineering and technology group, Technip Energies has acquired a 16.3% stake in X1 Wind, a startup that has designed "an innovative and disruptive" offshore wind turbine floater.Technip Energies is the lead investor in this funding round, which also counts with the participation of the European Commission-owned European Innovation Council (EIC) Fund, advised by the European Investment Bank (EIB), and some of X1 Wind’s previous shareholders. Under the terms of the agreement, Technip Energies will hold two of the nine seats on X1 Wind’s Board of Directors.Also…

OXE Marine AB announced it is joining forces with U.S. distributor Diesel Outboards and Outdoor Network Manufacturing to strengthen the focus on commercial and distribution development.The diesel outboard engine manufacturer said it agreed to acquire 100% of Diesel Outboards and Outdoor Network Manufacturing’s U.S. distribution and manufacturing business. Through the transaction, OXE strengthens its position in the U.S. market, creating a direct to market model, gaining access to end-user…

Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear program and has been moving oil into place to prepare for an eventual restart, four traders and industrial sources said.The U.S. and Iran began in mid-June their sixth round of indirect talks on reviving a 2015 nuclear deal that former U.S. President Donald Trump pulled out of in 2018. Trump reimposed sanctions on Iran’s energy sector, leading…