Fearnley Securities has notably expanded its project finance portfolio in the shipping sector to an impressive $927 million. This Norwegian powerhouse has strategically added three more vessels to its fleet this year, a move driven by an optimistic market forecast. The surge in shipping markets has become a magnet for a burgeoning number of investors keen on leveraging the sector’s escalating affluence. Specifically, in 2023, Fearnley Securities witnessed a substantial growth in its Project Finance shipping portfolio, with an increase of $280 million, bringing the total value to $927 million. Axel Bendvold, who leads the project finance division at Fearnley Securities, highlighted the massive investor interest, which shows no signs of tapering off. Fearnley Securities, a subsidiary of the long-standing Fearnley Group, which has been a significant player in the shipping, offshore, and financial services sectors for over a century, continues to strengthen its position in the market. With its roots deeply embedded in the maritime industry, the company leverages its extensive network and expertise to offer tailored financing solutions to its clients. Fearnley Securities’ strategy focuses on identifying high-potential projects within the shipping and offshore sectors, thereby providing its investors with lucrative opportunities. The recent expansions and acquisitions are part of Fearnley Securities’ broader objective to diversify its portfolio and enhance its offerings, ensuring robust growth and sustainability in the ever-evolving global shipping industry. Axel Bendvold’s comments underscore the Fearnley Securities’ success in attracting significant investments, a testament to its solid reputation and the attractive prospects of the shipping finance sector. 9-March-2024
Borealis Maritime Limited, a London-based firm, has strengthened its investment team by recruiting Peter Wessel-Aas from Fearnley Securities. Wessel-Aas, an experienced investment banker, will serve as an investment manager at Borealis Maritime’s office in Abu Dhabi, United Arab Emirates. This hire signifies Borealis Maritime’s commitment to enhancing its market presence, particularly in the Asian and Middle Eastern regions. The company expressed enthusiasm about adding such a strong candidate to its team, indicating a strategic move to bolster its coverage and expertise in these key markets. Norway-headquartered shipbroker Fearnleys’ subsidiary Fearnley Securities, where Wessel-Aas previously worked, is known for providing advisory and transaction services to companies in the shipping, offshore, and energy sectors, both public and private. Their Investment Banking Division specializes in a range of services including Equity and Debt Capital Market transactions, mergers and acquisitions, as well as restructuring and recapitalizations. Fearnley Securities leverages its extensive maritime expertise and global placing power to develop innovative solutions for its clients, helping them capitalize on market opportunities and execute their corporate strategies effectively. Wessel-Aas’s move to Borealis Maritime Limited is a significant development, reflecting the ongoing dynamic shifts within the maritime investment sector and the importance of regional expertise in fostering business growth and market expansion. 13-December-2023
Norway-headquartered shipbroker Fearnleys makes a significant move by acquiring Braemar ACM Shipbroking dry cargo shipbrokers to establish a strong foothold in Brazil, marking its first venture into South America. This strategic decision complements the Fearnleys’ existing office in Dubai, enhancing Fearnleys’ global presence. Having appointed three dry cargo shipbrokers from Braemar ACM Shipbroking, CEO Marius Hermansen-led Fearnleys secures a fresh stronghold in Brazil, bolstering its capesize bulk carrier chartering operations in the South Atlantic region. 25-July-2023
Norway-headquartered shipbroker Fearnleys reported that dry bulk market upturn should begin later in 2023 and continue in 2025 onwards. Oslo-based shipbroker Fearnleys believes that cyclical bottom of the dry bulk market will come earlier in 2023 than Fearnleys had previously expected. Norway-headquartered shipbroker Fearnleys noted that ry bulk market will bounce later in 2023. Fearnleys has an extremely bullish outlook from 2025 onwards for dry bulk market. Fearnleys anticipates a broad-based upcycle in dry bulk shipping markets will start sometime between the Q3 2023 and the Q2 2024. At the Astrup Fearnley Shipping and Energy Conference in Oslo, analyst Bernhard Andres Baardson expressed that it could be a good idea to position for bullish dry bulk market during the coming months and quarters. According to Norway-headquartered shipbroker Fearnleys, demand for coal will growth in 2023 due to logistical problems in major exporting nations. 19-January-2023
Norway-headquartered shipbroker Fearnleys appointed Charlie Hockless to S&P (Sale-and-Purchase) department in London. Formerly, Charlie Hockless worked at Marex and VesselsValue. It would be an exciting time for sale and purchase (S&P) shipbroking in London. Lately, Charlie Hockless was CEO of Singapore-based valuation platform VesselsValue. Charlie Hockless accepted the new S&P (Sale-and-Purchase) Shipbroker position at Oslo-based shipbroker Fearnleys. 28-August-2022
The Navios Group is embarking on a strategic restructuring by liquidating Navios Europe II, a subsidiary within its expansive maritime operations. This decision sees the distribution of 14 vessels, consisting of five sub-panamax containerships, two feeder containerships, and seven bulk carriers across various classes, to its primary New York-listed entities. The liquidation, directed by Angeliki Frangou, is a significant move, aiming for completion in the second quarter of 2020. This step mirrors the group’s previous action with Navios Europe I, reinforcing its commitment to optimizing operations and enhancing financial fluidity in response to the volatile shipping market. Navios Europe II, which was established in 2015 in the Marshall Islands, had its fleet financed through $14 million in loans from Navios Maritime Holdings, Navios Maritime Acquisition, and Navios Maritime Partners, with further financial support provided in subsequent years. The dissolution agreement includes the full discharge of a $5 million junior loan, marking a comprehensive approach to settling the company’s financial obligations. Fearnley Securities has highlighted the liquidation’s potential to significantly boost liquidity for Navios Acquisition, especially beneficial given its profitable VLCC charters. The investment bank anticipates a substantial improvement in liquidity by mid-2020 and advocates for the strategic repurchase of bonds at a discount as a means to manage debt effectively and potentially increase equity value. The allocation of assets from Navios Europe II to the respective Navios entities is a pivotal development, with the potential to influence the financial and operational dynamics of the group. This liquidation reflects the Navios Group’s agile strategy in managing its extensive fleet and financial assets, aiming to maintain a competitive stance within the global shipping industry amidst challenging market conditions. 19-April-2020
Norway-headquartered shipbroker Fearnleys eyes Asia expansion as the company marks its 150th anniversary. Fearnleys expands the company’s footprint in Singapore. Fearnleys Asia (Singapore) Pte. Ltd set up LNG Advisory Services and grow the shipbroking activities of Fearnley Offshore in Singapore. Oslo-based shipbroker Fearnleys descended on Singapore for the latest in the company’s string of 150th-anniversary celebrations. Fearnleys developed considerably over the past 150 years. A significant contributor to that development is Fearnleys Asia (Singapore) Pte. Ltd’s presence in the Asian region. Fearnleys Asia (Singapore) Pte. Ltd. has for many years been the prime hub for the shipbroking business in the Asia region. Fearnleys Asia (Singapore) Pte. Ltd. has been serving in Singapore for more than 30 years. Fearnleys Asia (Singapore) Pte. Ltd. is the largest Fearnleys hub outside Norway. Fearnleys Asia (Singapore) Pte. Ltd. covers all segments within the ship and offshore shipbroking. Norway-headquartered shipbroker Fearnleys has been expanding the company’s presence and investments in Singapore. 24-October-2019