http://www.marine-money.com The Ship Finance Publication Of Record Mon, 16 Jan 2012 04:04:51 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://www.marine-money.com/archive/exmar-and-bw-gas-swap http://www.marine-money.com/archive/exmar-and-bw-gas-swap#comments Thu, 21 Jul 2011 18:51:38 +0000 marinemoney http://www.marine-money.com/?p=10513 http://www.marine-money.com/archive/exmar-and-bw-gas-swap/feed 0 http://www.marine-money.com/archive/more-to-come http://www.marine-money.com/archive/more-to-come#comments Thu, 02 Apr 2009 15:29:43 +0000 carisk http://marine-money.com/?p=5356 BW Gas conceded. Following a tepid response by the minority shareholders to the rights offering, the Sohmen family plans to take BW Gas private through its investment vehicle, World Nordic, which has recently increased its stake to 94.7%. Additionally, it is giving the minority shareholders, although not obligated to do so under Bermudan law, an exit opportunity by making an offer for the remaining shares. Although the market for gas carriers has not been kind, the write-off of the bulk of its equity as a consequence of the change in Norwegian tax law was certainly a contributing factor. If the Norwegian court rules in its favor, as it likely should, this will be a classic example of winning the battle, while losing the war]]> http://www.marine-money.com/archive/more-to-come/feed 0 http://www.marine-money.com/archive/a-better-idea http://www.marine-money.com/archive/a-better-idea#comments Thu, 29 Jan 2009 20:41:49 +0000 carisk http://marine-money.com/?p=5113 BW Gas’ decision to withdraw from the Norwegian tax system and today’s declining asset values had stressed its balance sheet requiring a substantial equity infusion in order to avoid breaching its covenants. To add some cushion to today’s equity value in order to prevent the potential breach of its equity covenants as well as to deal with the continued turbulence in the financial and shipping markets, BW Gas has entered into an agreement to purchase Bergesen LNG from the company’s main shareholder, World Nordic SE. The total consideration to be paid for the shares of Bergesen LNG, which owns four LNG vessels, is $720 million, which will be paid through the issuance of 273.6 million new shares to the seller at a price of]]> http://www.marine-money.com/archive/a-better-idea/feed 0 http://www.marine-money.com/archive/nordea-dnb-ing-arrange-3-billion-facility-for-bw-group http://www.marine-money.com/archive/nordea-dnb-ing-arrange-3-billion-facility-for-bw-group#comments Fri, 16 May 2008 06:44:22 +0000 carisk http://marine-money.com/?p=3522 http://www.marine-money.com/archive/nordea-dnb-ing-arrange-3-billion-facility-for-bw-group/feed 0 http://www.marine-money.com/archive/the-week-in-review-15 http://www.marine-money.com/archive/the-week-in-review-15#comments Thu, 08 May 2008 20:38:27 +0000 carisk http://marine-money.com/?p=5858 Caterpillar Financial Services this week entered into an agreement to increase Aker Philadelphia Shipyard’s credit line by $150 million. Under the agreement, Caterpillar will fund up to $80]]> http://www.marine-money.com/archive/the-week-in-review-15/feed 0 http://www.marine-money.com/archive/bw-gas-votes-on-taxes http://www.marine-money.com/archive/bw-gas-votes-on-taxes#comments Thu, 08 May 2008 07:07:06 +0000 carisk http://marine-money.com/?p=3532 http://www.marine-money.com/archive/bw-gas-votes-on-taxes/feed 0 http://www.marine-money.com/archive/price-of-admission http://www.marine-money.com/archive/price-of-admission#comments Thu, 21 Feb 2008 22:03:13 +0000 carisk http://marine-money.com/?p=6584 http://www.marine-money.com/archive/price-of-admission/feed 0