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	<title>Marine Money Archives &#187; OCBC</title>
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	<link>http://www.marine-money.com</link>
	<description>The Ship Finance Publication Of Record</description>
	<lastBuildDate>Mon, 16 Jan 2012 04:04:51 +0000</lastBuildDate>
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		<title>Banking Crisis? Not an Issue for BW Group or NOL</title>
		<link>http://www.marine-money.com/archive/banking-crisis-not-an-issue-for-bw-group-or-nol</link>
		<comments>http://www.marine-money.com/archive/banking-crisis-not-an-issue-for-bw-group-or-nol#comments</comments>
		<pubDate>Tue, 06 Dec 2011 02:49:22 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[Loan]]></category>
		<category><![CDATA[Bank of Tokyo-Mitsubishi UFJ]]></category>
		<category><![CDATA[BW Group]]></category>
		<category><![CDATA[Commonwealth Bank of Australia]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[DNB Bank]]></category>
		<category><![CDATA[Fokus Bank]]></category>
		<category><![CDATA[HSBC]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[KfW IPEX-Bank]]></category>
		<category><![CDATA[Neptune Orient Lines]]></category>
		<category><![CDATA[NOL]]></category>
		<category><![CDATA[Nordea Bank]]></category>
		<category><![CDATA[OCBC]]></category>
		<category><![CDATA[Skandinaviska Eskilda Banken]]></category>
		<category><![CDATA[Swedbank]]></category>
		<category><![CDATA[United Overseas Bank]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11378</guid>
		<description><![CDATA[2012 is broadly expected to be challenging for both shipping lenders and borrowers. As long as the Euro debt crisis persists and continues to worsen, capital will become increasing scarce. Even shipping companies at the top of the pyramid are busy strengthening their balance sheets and making sure that they have adequate funds to meet [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>One is Not Enough &#8211; FSL Goes Back to Torm</title>
		<link>http://www.marine-money.com/archive/one-is-not-enough-fsl-goes-back-to-torm</link>
		<comments>http://www.marine-money.com/archive/one-is-not-enough-fsl-goes-back-to-torm#comments</comments>
		<pubDate>Thu, 16 Jun 2011 09:36:27 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Leasing]]></category>
		<category><![CDATA[First Ship Lease Trust]]></category>
		<category><![CDATA[OCBC]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10769</guid>
		<description><![CDATA[Having whetted its appetite two weeks ago, First Ship Lease Trust (“FSL”) announced that it had acquired from a subsidiary of TORM A/S its second LR2 product carrier, purchasing the M/T TORM Marie, a sister ship to the earlier acquired TORM Margrethe, for the same USD 46 million. Both vessels, which have a deadweight capacity [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>PST Closes USD 132 million Financing Commitments</title>
		<link>http://www.marine-money.com/archive/pst-closes-usd-132-million-financing-commitments</link>
		<comments>http://www.marine-money.com/archive/pst-closes-usd-132-million-financing-commitments#comments</comments>
		<pubDate>Fri, 25 Mar 2011 02:27:03 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Shipping Trust]]></category>
		<category><![CDATA[Bangkok Bank]]></category>
		<category><![CDATA[China Shipbuilding Industry Company]]></category>
		<category><![CDATA[DBS Bank]]></category>
		<category><![CDATA[Hyundai-Kia]]></category>
		<category><![CDATA[ING Bank]]></category>
		<category><![CDATA[Malayan Banking]]></category>
		<category><![CDATA[Maybank]]></category>
		<category><![CDATA[OCBC]]></category>
		<category><![CDATA[Oversea-Chinese Banking Corporation]]></category>
		<category><![CDATA[Pacific Shipping Trust]]></category>
		<category><![CDATA[Standard Chartered]]></category>
		<category><![CDATA[Tianjin Xingang Shipbuilding]]></category>
		<category><![CDATA[Xiamen Ocean Shipping Company]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10889</guid>
		<description><![CDATA[Last Friday, Pacific Shipping Trust (“PST”) announced that it has secured bilateral financing commitments for a total of USD 132 million from Oversea-Chinese Banking Corporation, Standard Chartered and ING Bank to fund its acquisition of five new 57,000 dwt Supramax bulk carriers. The ships are contracted with Tianjin Xingang Shipbuilding, part of state-owned China Shipbuilding [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Labuan Woos Shipowners with Tax Savings But…</title>
		<link>http://www.marine-money.com/archive/labuan-woos-shipowners-with-tax-savings-but%e2%80%a6</link>
		<comments>http://www.marine-money.com/archive/labuan-woos-shipowners-with-tax-savings-but%e2%80%a6#comments</comments>
		<pubDate>Fri, 07 May 2010 03:01:08 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Commentary]]></category>
		<category><![CDATA[Equity Trust]]></category>
		<category><![CDATA[Labuan]]></category>
		<category><![CDATA[OCBC]]></category>
		<category><![CDATA[Overseas Chinese Banking Corporation]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=8881</guid>
		<description><![CDATA[Malaysia has been pushing forward on plans to attract shipowners to Labuan but experts say many corporations and SMEs in the shipping business remain unaware of the significant tax benefits offered to encourage more shipping leasing activities in the island. Speaking at a seminar co-organised by OCBC Bank (Malaysia) Berhad and Equity Trust (Labuan) Limited recently, Ms Sue Yong, managing director of Equity Trust, said the favourable tax regime and regulatory environment in Labuan has helped both foreign and Malaysian-based companies to lower their operating costs through innovative leasing structures.

Ms Yong pointed out that leasing through the Labuan International Business &#038; Financial Centre (“Labuan IBFC”) involves enormous tax benefits – taxation at 3% of net audited profit or a flat tax of RM20,000 (USD 6,226) instead of the usual 25%. In addition to the tax benefit, offshore companies registered in Labuan need not pay withholding tax or stamp duty on offshore transactions with the exception of companies that are engaging in the business of transporting passengers or cargoes by sea or the chartering of ships on a voyage or time charter basis.
]]></description>
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		</item>
		<item>
		<title>MEO Club</title>
		<link>http://www.marine-money.com/archive/meo-club</link>
		<comments>http://www.marine-money.com/archive/meo-club#comments</comments>
		<pubDate>Fri, 09 Apr 2010 08:13:00 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[Australia Securities Exchange]]></category>
		<category><![CDATA[Clifford Chance]]></category>
		<category><![CDATA[Macquarie Capital]]></category>
		<category><![CDATA[Miclyn Express Offshore]]></category>
		<category><![CDATA[Norton Rose]]></category>
		<category><![CDATA[OCBC]]></category>
		<category><![CDATA[Overseas Chinese Banking Corporation]]></category>
		<category><![CDATA[Standard Chartered]]></category>
		<category><![CDATA[WestLB]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=8648</guid>
		<description><![CDATA[Amid a spate of ship financing activities happening in Asia, Singapore based Miclyn Express Offshore (“MEO”) was able to secure USD 150 million facilities from an international club of lenders comprising Standard Chartered Bank, WestLB and Oversea-Chinese Banking Corporation. The facilities were used to pay down part of the group’s existing debt and the remainder was paid down out of the proceeds of a simultaneous initial public offering of MEO on the Australia Securities Exchange in Sydney.

Macquarie Capital (Hong Kong) Limited were sponsor and financial adviser to MEO and exited as a principal shareholder of MEO on completion of the listing. The Norton Rose team in Singapore had previously advised the shareholders of MEO on its sale to Macquarie and that role was instrumental in its appointment as lenders’ counsel. MEO was advised by Clifford Chance.
]]></description>
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		</item>
		<item>
		<title>Successfully Financed And In Search For More</title>
		<link>http://www.marine-money.com/archive/successfully-financed-and-in-search-for-more</link>
		<comments>http://www.marine-money.com/archive/successfully-financed-and-in-search-for-more#comments</comments>
		<pubDate>Thu, 10 Sep 2009 07:11:00 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[DnB NOR Bank ASA]]></category>
		<category><![CDATA[Krung Thai Bank]]></category>
		<category><![CDATA[OCBC]]></category>
		<category><![CDATA[Overseas Chinese Banking Corporation]]></category>
		<category><![CDATA[RCL]]></category>
		<category><![CDATA[Regional Container Lines]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=8244</guid>
		<description><![CDATA[Thailand based Regional Container Lines (“RCL Group”)’s wholly owned subsidiary in Singapore, RCL Feeder Pte Ltd, has secured a term loan of up to USD 35 million from Overseas Chinese Banking Corporation (“OCBC”) on August 21, 2009. The tenor of the loan will expire 3 years from the drawdown or October 31, 2012 at the latest, and the quantum should not exceed 50% of the market value of the RCL office building in Singapore. Proceeds will be used for working capital.

In a similar transaction concluded on 23 June 2009, another RCL wholly-owned subsidiary in Singapore, Regional Container Lines Pte Ltd, signed a loan facility agreement with DnB NOR Bank ASA, Singapore branch for up to USD 17.5 million or an amount not more than 55% of the combined market value of the vessels under the collateral pool. The loan has a tenor of 5 years from the drawdown and the proceeds will be used to refinance an existing loan. 
]]></description>
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		</item>
		<item>
		<title>DBS Finances Oiltanking Odfjell Terminal Singapore</title>
		<link>http://www.marine-money.com/archive/dbs-finances-oiltanking-odfjell-terminal-singapore</link>
		<comments>http://www.marine-money.com/archive/dbs-finances-oiltanking-odfjell-terminal-singapore#comments</comments>
		<pubDate>Fri, 17 Jul 2009 06:09:08 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[Debt]]></category>
		<category><![CDATA[Calyon]]></category>
		<category><![CDATA[DBS]]></category>
		<category><![CDATA[OCBC]]></category>
		<category><![CDATA[Odfjell]]></category>
		<category><![CDATA[Oiltanking GmbH]]></category>
		<category><![CDATA[Oiltanking Odfjell Terminal Singapore]]></category>
		<category><![CDATA[Overseas Chinese Banking Corporation]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=8354</guid>
		<description><![CDATA[Oiltanking Odfjell Terminal Singapore Pte Ltd has signed a 6 year syndicated term loan facility of SGD 200 million (USD 138 million) via a club deal by DBS Bank Ltd, Calyon, and Oversea-Chinese Banking Corporation Limited. DBS Bank Ltd was the sole Bookrunner. The proceeds from the 6 year facility will be used to refinance existing loans and to finance the company's expansion project on Jurong Island. OOTS is one of the very few companies in Asia who has been able to successfully tap the syndication loan market for a facility with tenor of more than 5 years. 
 
Oiltanking Odfjell Terminal Singapore Pte Ltd is a 50/50 joint venture between Oiltanking GmbH and Odfjell SE. OOTS, incorporated in December 1999, owns and currently operates a 226,000 cubic metre (cbm) chemical storage terminal in Jurong Island.
]]></description>
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		</item>
		<item>
		<title>Malaysia: Challenges and Opportunities</title>
		<link>http://www.marine-money.com/archive/malaysia-challenges-and-opportunities</link>
		<comments>http://www.marine-money.com/archive/malaysia-challenges-and-opportunities#comments</comments>
		<pubDate>Thu, 26 Feb 2009 10:12:33 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Commentary]]></category>
		<category><![CDATA[Conferences]]></category>
		<category><![CDATA[AIS Scheme]]></category>
		<category><![CDATA[Bank Pembangunan]]></category>
		<category><![CDATA[Captain Johari bin Mohd Noh]]></category>
		<category><![CDATA[Dato Cheah Kong Wai]]></category>
		<category><![CDATA[Dato Ramesh Rajaratnam]]></category>
		<category><![CDATA[Gagasan Carriers]]></category>
		<category><![CDATA[Jeffrey Chew Sun Teong]]></category>
		<category><![CDATA[Joanne Long]]></category>
		<category><![CDATA[Kuala Lumpur]]></category>
		<category><![CDATA[Long & Maduarin]]></category>
		<category><![CDATA[Malaysia]]></category>
		<category><![CDATA[Malaysian Merchant Marine]]></category>
		<category><![CDATA[Maritime Institute of Malaysia]]></category>
		<category><![CDATA[MIMA]]></category>
		<category><![CDATA[MISC]]></category>
		<category><![CDATA[Nazery Khalid]]></category>
		<category><![CDATA[OCBC]]></category>
		<category><![CDATA[PricewaterhouseCoopers]]></category>
		<category><![CDATA[RHB Bank]]></category>
		<category><![CDATA[Theresa Lim]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=8921</guid>
		<description><![CDATA[Marine Money Asia hits the road this week as we head to Kuala Lumpur to present at the Maritime Financing Seminar 2009 put together by our friend Nazery Khalid at the Maritime Institute of Malaysia (“MIMA”) with the sponsor OCBC Bank. More than any other cities in the country, Kuala Lumpur represents the focal point of Malaysia in many aspects and the same can be said for ship financing. The two day seminar gathered an impressive list of over 80 delegates to discuss the current state and the opportunities for the growing Malaysian shipping industry. In his opening address, Director General Dato Cheah Kong Wai from MIMA highlighted some of Malaysia’s achievements in the maritime sector. Today, Malaysia is ranked by UNCTAD as the 18th most important nation in terms of its 1.2% contribution to the world’s merchant fleet in 2008. In addition to two world class container ports – Port Klang and Pelabuhan Tanjung Pelepas, Malaysia’s national carrier MISC is the world’s largest owner-operator of LNG tankers with a fleet of 27 vessels. The nation is also the world’s 13th largest producer of natural gas and 24th largest in crude oil production which explains the vibrancy of its domestic oil and gas sector.       ]]></description>
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		</item>
		<item>
		<title>Nordea, DnB, ING Arrange $3 billion Facility for BW Group</title>
		<link>http://www.marine-money.com/archive/nordea-dnb-ing-arrange-3-billion-facility-for-bw-group</link>
		<comments>http://www.marine-money.com/archive/nordea-dnb-ing-arrange-3-billion-facility-for-bw-group#comments</comments>
		<pubDate>Fri, 16 May 2008 06:44:22 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BW Gas]]></category>
		<category><![CDATA[BW Group]]></category>
		<category><![CDATA[BW Offshore]]></category>
		<category><![CDATA[Clarence Lui]]></category>
		<category><![CDATA[Danske Bank]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[DnB]]></category>
		<category><![CDATA[Fortis Singapore]]></category>
		<category><![CDATA[Helmut Sohmen]]></category>
		<category><![CDATA[HSBC]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[OCBC]]></category>
		<category><![CDATA[Svenska Handelsbanken]]></category>
		<category><![CDATA[Swedbank]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=3522</guid>
		<description><![CDATA[Jumbo loans have officially returned with the announcement by BW Group that it has executed a 5-year $3 billion facility with a consortium of 11 banks, which committed a total sum of $5 billion against BW Group’s $3 billion requirement. Nordea, DnB and ING acted as bookrunners of the facility, and they were joined as mandat­ed lead arrangers and underwriters by Svenska Handelsbanken, Swedbank, HSH Nordbank, Danske Bank, Fortis Singapore, OCBC, Deutsche Bank and HSBC.]]></description>
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