Independent containership owner and operator Seaspan Corporation has received a letter of intent from investment firm Fairfax Financial Holdings Limited for an investment of up to $250 million.
The Fairfax investment will be in exchange for 5.5% interest-bearing debentures and class A share purchase warrants from Seaspan.
Seaspan intends to use the $250 million investment to fund future growth initiatives, debt repayment and for general corporate purposes.
“The company's management team and I are extremely honoured to have Fairfax Holdings and their CEO, Prem Watsa, as investors and partners,” said David Sokol, Chairman of Seaspan Corporation.
“The investment by Fairfax will strengthen and simplify our balance sheet, while increasing our financial flexibility to take advantage of compelling opportunities.
“We welcome Fairfax's insights and participation on our board, as Seaspan seeks to further capitalize on its industry-leading position.”
Published: 4 January, 2018
The bank is filing an application for pre-action discovery at the High Court of the Republic of Singapore in order to ascertain its future direction of proceedings against Sinfeng, according to court documents.
‘We need to keep in mind the saying “penny wise pound foolish”,’ says Captain Rahul Choudhuri, the Managing Director AMEA at VPS, who stresses on the essential role of the Bunker Surveyor.
Legal representatives met at the High Court on Tuesday to discuss the discharge of KPMG liquidators from all liability in respect of conduct in the course of winding up, show court documents.
Global sentence adjusts to 80 month’s imprisonment term for both Chang and Koh under application of the Masui sentencing framework; fine of SGD 6.2 million against Chang remains unchanged.
Company has been ranked EIGHTH for 2020; ‘we are humbled and proud to be placed amongst the top ten winners of the Enterprise 50 Awards,’ says Satnam Singh, COO, Sing Fuels.
Mads Bjornebye, Manager of Bunker Services at Teekay Tankers Ltd, shares about the company’s perspective of e-BDNs, bunker purchasing & planning tools, while offering his thoughts on future marine fuels.