TORM Nets USD 496 Mn For Debt Refinancing

Danish tanker shipping company TORM has obtained a commitment for a total of USD 496 million from a syndicate of lenders to refinance its debt and bolster its capital structure. The company said the total amount is a combination of two separate term facilities and a revolving credit facility, which will be used to refinance…

Cosco Boxship Hit By A Fire

A fire broke out on board Cosco Pacific, a very large containership owned by Cosco Shipping, while the vessel was underway from Port Klang, Malaysia to the largest container port in India, Nhava Sheva Port on January 4, 2020. As informed by COSCO in a customer advisory, the fire, which broke out in one of…

Qatar Petroleum, KPC Pen LNG Supply Deal

Qatar Petroleum and Kuwait Petroleum Corporation (KPC) have inked a 15-year sale and purchase agreement for the supply of up to 3 million tons per annum of liquefied natural gas (LNG) to Kuwait. Under the deal, LNG deliveries to Kuwait’s new LNG receiving terminal at Al-Zour Port is set to start in 2022 to support…