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A.P. Moller-Maersk Group

Shipping Firms Look to Equities to Fill Funding Gap

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector recovering from its worst downturn since the 1980s.Ship owners ordered large numbers of vessels between 2007 and 2009, just as the global economy sank into crisis. Prospects have brightened in recent months as world trade picks up and the ship glut is absorbed.The industry still faces a multi-billion dollar financing hole after banks, its traditional source of funding, cut back lending to boost capital in the wake of the financial crisis.Alternative investors such as private equity firms have been snapping up shipping assets including loan portfolios from the banks. Scenting an opportunity, shipping companies are now trying to take advantage of strong equity markets to seek out funds through initial public offerings (IPOs).Avance Gas listed this week in Oslo. Germany's Hapag-Lloyd and Chilean peer Vapores agreed this week to a...

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    European stock markets struggled for direction on Friday on the heels of the first back-to-back triple-digit drop for Wall Street since June. The Dow industrials fin...

  2. Maersk Oil: DUC JV April Oil Production at 156,200 B/D

    Maersk Oil said Wednesday that DUC oil and condensate production in April totaled 156,200 barrels a day.MAIN FACTS:-Production totals 19.5 million barrels in the yea...

  3. Moller-Maersk Net Falls, Demand to Stay Subdued

    The world's largest container shipping company A.P. Moller-Maersk A/S (MAERSK-B.KO) Friday posted a smaller-than-expected drop in first-quarter net profit, supported...

  4. UASC Plans to Order Five Triple-E Container Ships

    Cash-rich United Arab Shipping Co. is considering buying five of the world's largest container ships for around $700 million, people with direct knowledge of the dea...

  5. BP Sells 60% Interest in Brazil's Polvo Oil Field for $135 Million

    Oil major BP PLC (BP) has agreed to sell its 60% interest in the Polvo oil field in Brazil to HRT Oil & Gas Ltda for $135 million in cash.MAIN FACTS:-Subject to regu...

  6. Brazil's HRT Buys 60% Stake in Offshore Polvo Oil Field from BP

    Brazilian oil start-up HRT Participacoes em Petroleo SA (HRTP3.BR) said Monday it would acquire a 60% stake in the offshore Polvo heavy oil field from the local unit...

  7. Hyundai Heavy Gets $700 Million Container Ship Order From CSCL

    Hyundai Heavy Industries Co. (009540.SE) said Monday that it had received a $700 million container ship order from China Shipping Container Lines Co. (2866.HK), taki...

  8. Brazil March Crude Oil Output Down 8% From February at 1.853 Mbpd-ANP

    Brazilian crude oil output slid for the third-consecutive month in March as maintenance shutdowns at several offshore platforms sapped production, the National Petro...

  9. Overcapacity, Fuel Costs Hit Shipping Industry

    The owners of the world's containerships are the people responsible for making globalization a reality. Their fleets transport 90% of world trade in manufactured goo...

  10. Maersk Oil: DUC March Oil Production at 164,700 B/D

    Danish conglomerate A.P. Moller-Maersk A/S's (MAERSK-B.KO) unit Maersk Oil Tuesday said the DUC joint venture's total oil production fell to 164,700 barrels per day ...

  11. China Shipping Container Lines to Order 5 Triple-E Mega Container Ships

    China Shipping Container Lines (2866.HK) plans to order five triple-E container ships, becoming the second operator after market leader A.P. Moller-Maesk A/S (MAERSK...

  12. European Companies Join Forces In Renewable Power-to-Gas Project

    Eleven European companies have joined forces to further the development of power-to-gas, a concept to convert electricity to natural gas that could be used to store ...

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    Peter Doocy reports

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  6. Container Firms Look To Gain Economies Of Scale

    Global container shipping companies have a strong appetite for new vessels, despite existing overcapacity, because they want to trade up to larger ships to benefit f...

  7. Maersk Alabama captain subject of $50 million lawsuit

    Julie Banderas reports from New York City

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