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	<title>Marine Money Archives &#187; ING</title>
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	<link>http://www.marine-money.com</link>
	<description>The Ship Finance Publication Of Record</description>
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		<title>Syndicated Market Continues on Track</title>
		<link>http://www.marine-money.com/archive/syndicated-market-continues-on-track</link>
		<comments>http://www.marine-money.com/archive/syndicated-market-continues-on-track#comments</comments>
		<pubDate>Thu, 12 Jan 2012 17:10:05 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[ABN AMRO]]></category>
		<category><![CDATA[AP Moller-Maersk]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Dealogic]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Mitsubishi UFJ]]></category>
		<category><![CDATA[Nordea]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11820</guid>
		<description><![CDATA[Last Friday, Dealogic released its Bookrunner and MLA Tables for Syndicated Marine Finance Loans for 2011 showing total syndicated loan volume at $68.4 billion up from last year’s $50.1 billion. From the macro perspective the trend remains upward as deal volume and number of transactions grew respectively 26.2% and 19.6% compared to the year earlier. This continues the growth which commenced in 2009. Ignoring the boom in volume in 2007 and 2008, the current volume is on par with the years prior. A further measure of the health of the syndication market is also reflected in the nominal reduction of club deal volume as well as the declining proportion of these deals versus total syndicated volume. ]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/syndicated-market-continues-on-track/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>STX Pan Ocean Closes USD 510 million Syndication</title>
		<link>http://www.marine-money.com/archive/stx-pan-ocean-closes-usd-510-million-syndication</link>
		<comments>http://www.marine-money.com/archive/stx-pan-ocean-closes-usd-510-million-syndication#comments</comments>
		<pubDate>Thu, 22 Sep 2011 07:16:22 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[ABN AMRO]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[China Development Bank]]></category>
		<category><![CDATA[Credit Industrial et Commercial]]></category>
		<category><![CDATA[Deutsche Schiffsbank]]></category>
		<category><![CDATA[DnB NOR Bank]]></category>
		<category><![CDATA[Export-Import Bank of Korea]]></category>
		<category><![CDATA[Fibria Celulose]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Standard Chartered]]></category>
		<category><![CDATA[STX Pan Ocean]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10599</guid>
		<description><![CDATA[South Korea’s STX Pan Ocean has secured a USD 510 million 12 year syndicated loan facility with a consortium of nine domestic and international lenders, comprising ABN AMRO, BNP Paribas, China Development Bank, Credit Industrial et Commercial, Deutsche Schiffsbank, DnB NOR Bank, Export-Import Bank of Korea, ING and Standard Chartered. In October 2010, the company [...]]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/stx-pan-ocean-closes-usd-510-million-syndication/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A Look Back – Some Further Insights on the GE SeaCo Acquisition</title>
		<link>http://www.marine-money.com/archive/a-look-back-%e2%80%93-some-further-insights-on-the-ge-seaco-acquisition</link>
		<comments>http://www.marine-money.com/archive/a-look-back-%e2%80%93-some-further-insights-on-the-ge-seaco-acquisition#comments</comments>
		<pubDate>Thu, 25 Aug 2011 14:25:33 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[AMBAC]]></category>
		<category><![CDATA[Bravia Capital]]></category>
		<category><![CDATA[Cronos Ltd]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[GE Capital]]></category>
		<category><![CDATA[GE SeaCo]]></category>
		<category><![CDATA[Genstar]]></category>
		<category><![CDATA[HNA Group]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Kelso]]></category>
		<category><![CDATA[Textainer Group Holdings]]></category>
		<category><![CDATA[Triton]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11024</guid>
		<description><![CDATA[When the purchase of GE SeaCo by the HNA Group was announced, details of the transaction were few and difficult to come by. We scoured our contacts and were able to glean some color. We reprise the salient points below with the new details interspersed.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Private Equity Firms Charge into Shipping</title>
		<link>http://www.marine-money.com/archive/private-equity-firms-charge-into-shipping</link>
		<comments>http://www.marine-money.com/archive/private-equity-firms-charge-into-shipping#comments</comments>
		<pubDate>Fri, 12 Aug 2011 03:30:00 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Private Equity]]></category>
		<category><![CDATA[Blue Lines]]></category>
		<category><![CDATA[Bravia Capital]]></category>
		<category><![CDATA[China Investment Corporation]]></category>
		<category><![CDATA[Cido Tanker]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[Deutsche Bank Securities]]></category>
		<category><![CDATA[Diamond S Shipping]]></category>
		<category><![CDATA[DnB NOR Bank ASA]]></category>
		<category><![CDATA[Fairfax Financial Holdings]]></category>
		<category><![CDATA[First Reserve]]></category>
		<category><![CDATA[GE SeaCo]]></category>
		<category><![CDATA[Grand China Logistics]]></category>
		<category><![CDATA[HNA Group]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Jones Day]]></category>
		<category><![CDATA[Mayer Brown JSM]]></category>
		<category><![CDATA[Morgan Creek Capital Management]]></category>
		<category><![CDATA[Nordea Bank Finland]]></category>
		<category><![CDATA[PPM America Capital Partners]]></category>
		<category><![CDATA[WL Ross]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10674</guid>
		<description><![CDATA[A couple of eyebrow raising private equity deals in the shipping space were announced last  week, just before the global markets took a beating. HNA Group, a Chinese conglomerate and parent of rapidly expanding shipping company Grand China Logistics has agreed to acquire Singapore based container leasing company GE SeaCo, together with Hong Kong based [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Deutsche Bank Manages Sale of GE SeaCo  &#8211;  World’s Fifth Largest Container Lessor</title>
		<link>http://www.marine-money.com/archive/deutsche-bank-manages-sale-of-ge-seaco-world%e2%80%99s-fifth-largest-container-lessor</link>
		<comments>http://www.marine-money.com/archive/deutsche-bank-manages-sale-of-ge-seaco-world%e2%80%99s-fifth-largest-container-lessor#comments</comments>
		<pubDate>Thu, 04 Aug 2011 19:10:22 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Craig Fuehrer]]></category>
		<category><![CDATA[David Amble]]></category>
		<category><![CDATA[Deutsche Bank AG]]></category>
		<category><![CDATA[GE SeaCo]]></category>
		<category><![CDATA[General Electric Co.]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[SeaCo Ltd]]></category>
		<category><![CDATA[Sterne Agee]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10533</guid>
		<description><![CDATA[General Electric Co. and partner SeaCo Ltd agreed Monday to sell their shipping-container-leasing joint venture, GE SeaCo, in a $1.05 billion transaction.
Ending a seven-month-long auction that attracted strategic and financial investors, Deutsche reported they had arranged the sale of GE SeaCo, which ranks as the world's fifth-largest lessor of marine containers with a portfolio of more than 870,000 TEUs, to a consortium including HNA Group Co. Ltd. of China and Bravia Capital of Hong Kong, a specialist private equity firm and long standing advisor to HNA Group.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/deutsche-bank-manages-sale-of-ge-seaco-world%e2%80%99s-fifth-largest-container-lessor/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Reverting to the Mean?</title>
		<link>http://www.marine-money.com/archive/reverting-to-the-mean</link>
		<comments>http://www.marine-money.com/archive/reverting-to-the-mean#comments</comments>
		<pubDate>Thu, 14 Jul 2011 15:14:33 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[ABN AMRO]]></category>
		<category><![CDATA[Alpha Star Equities]]></category>
		<category><![CDATA[Axis Bank]]></category>
		<category><![CDATA[Bank of Taiwan]]></category>
		<category><![CDATA[BW Offshore]]></category>
		<category><![CDATA[Carnival Cruise]]></category>
		<category><![CDATA[Carolina Marine]]></category>
		<category><![CDATA[Chinatrust Commercial Bank]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[IDBI Bank]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Mega International Commercial Bank]]></category>
		<category><![CDATA[Mitsubishi UFJ]]></category>
		<category><![CDATA[Mizuho]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[Prosafe Production]]></category>
		<category><![CDATA[SBI Capital Markets]]></category>
		<category><![CDATA[SMBC]]></category>
		<category><![CDATA[Swedbank Markets]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10487</guid>
		<description><![CDATA[Last week, Dealogic published its Bookrunner and MLA Tables for Syndicated Marine Finance Loans for the first half of 2011 and while growth is clearly evident, there is a noticeable defining trend. The offshore services sector, given its strength and capital requirements, is taking on a far more meaningful role.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Even Big Boys Get the Blues – A.P Moller-Maersk Bides Time</title>
		<link>http://www.marine-money.com/archive/even-big-boys-get-the-blues-%e2%80%93-a-p-moller-maersk-bides-time</link>
		<comments>http://www.marine-money.com/archive/even-big-boys-get-the-blues-%e2%80%93-a-p-moller-maersk-bides-time#comments</comments>
		<pubDate>Thu, 23 Jun 2011 14:49:33 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[A.P. Moller Maersk]]></category>
		<category><![CDATA[Barclays]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[J.P. Morgan]]></category>
		<category><![CDATA[Mitsubishi]]></category>
		<category><![CDATA[Nordea]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10449</guid>
		<description><![CDATA[Market reports suggest that A.P Moller Maersk has postponed a planned EUR 1 billion bond issue due to poor market conditions. Led by Barclays, ING, J.P. Morgan, Mitsubishi and Nordea, the roadshow for the 10-year bond was to have begun on May 31 but never transpired. Analysts attribute the delay to a poor corporate bond market which is struggling with the Greek debt crisis among other issues.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/even-big-boys-get-the-blues-%e2%80%93-a-p-moller-maersk-bides-time/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Why Wait? – OSG’s Forward Start Revolver</title>
		<link>http://www.marine-money.com/archive/why-wait-%e2%80%93-osg%e2%80%99s-forward-start-revolver</link>
		<comments>http://www.marine-money.com/archive/why-wait-%e2%80%93-osg%e2%80%99s-forward-start-revolver#comments</comments>
		<pubDate>Thu, 02 Jun 2011 14:40:18 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Citibank]]></category>
		<category><![CDATA[Credit Agricole]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[HSBC]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Morgan Stanley Senior Funding]]></category>
		<category><![CDATA[Overseas Shipholding Group Inc.]]></category>
		<category><![CDATA[Swedbank]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10279</guid>
		<description><![CDATA[Last week, Overseas Shipholding Group, Inc. announced it had entered into a $900 million unsecured forward start revolving credit that matures on December 31, 2016. The company may begin to borrow under the facility on February 8, 2013, the date on which OSG’s current facility expires. With an interest rate of LIBOR + 2.75%, the new facility incorporates the same financial covenant package as the original facility as well as an “accordion feature”, which permits an increase in total availability of up to $1.25 billion through additional bank subscriptions prior to the start date. Even with the accordion feature, the availability is less than the original facility it replaces.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>BLT Receives Backing from 6 Banks</title>
		<link>http://www.marine-money.com/archive/blt-receives-backing-from-6-banks</link>
		<comments>http://www.marine-money.com/archive/blt-receives-backing-from-6-banks#comments</comments>
		<pubDate>Fri, 25 Feb 2011 04:35:52 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[Berlian Laju Tanker (“BLT Tanker”)]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[DnB NOR Bank]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[NIBC]]></category>
		<category><![CDATA[Nordea Bank]]></category>
		<category><![CDATA[Standard Chartered]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10944</guid>
		<description><![CDATA[From its humble beginnings as a small local Indonesian tanker operator, BLT’s successful listing in Singapore was catalytic to its transformation into one of the largest chemical tanker owners in the world. Its Singapore listing in 2006 shrewdly placed the company on the radar screens of many shipping banks in the city state, who have [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>And the Winner is….the Syndication Market</title>
		<link>http://www.marine-money.com/archive/and-the-winner-is%e2%80%a6-the-syndication-market-2</link>
		<comments>http://www.marine-money.com/archive/and-the-winner-is%e2%80%a6-the-syndication-market-2#comments</comments>
		<pubDate>Thu, 13 Jan 2011 15:49:31 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Dealogic]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Mitsubishi UFJ]]></category>
		<category><![CDATA[Nordea]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10069</guid>
		<description><![CDATA[Last quarter, we went out on a limb, a pretty sturdy one we must confess, and called a turn in the downward trend in the syndication market, based upon a 9.8% increase in volume. Thankfully, we were correct, but the result was unexpected. According to Dealogic, for the twelve months ending in 2010, total syndicated shipping volume was $50.06 billion, an increase of 53.2% over 2009. The ancillary data provided by Dealogic strongly supports this revival, as well as an improving credit environment. ]]></description>
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