Latest news with #Japanese-built
Business Wire
6 days ago
- Business
- Business Wire
EnTrust Global's Blue Ocean Marks Record Year with SEACOR Marine, Belships ASA, and Rocktree Group Deals
NEW YORK--(BUSINESS WIRE)--Blue Ocean, a maritime finance investment platform managed by EnTrust Global, a leading alternative asset management firm, today announced that it deployed over $2.1 billion across more than 20 transactions in 2024 and Q1 2025. This success was driven by Blue Ocean's largest-ever debt deal with SEACOR Marine Holdings Inc.; largest equity deal and first public company take-private with Belships ASA; and an up to $350 million senior secured financing for Rocktree Group, marking Blue Ocean's expansion into the South American logistics market. Notably, in 2024, Blue Ocean completed its 100th transaction since the strategy's inception, further cementing itself as a market leader for alternative financing to the maritime industry. As of March 31, 2025, Blue Ocean has already deployed approximately $838 million across six transactions this year. In aggregate, the strategy has now invested approximately $6 billion since launching in 2017, while building a reputation for providing timely, comprehensive financing solutions throughout the capital structure. Gregg S. Hymowitz, Chairman and Chief Executive Officer of EnTrust Global: 'These transactions and record growth reflect a major milestone in Blue Ocean's reputation as a dependable strategic financing partner for borrowers and other investors. Thanks to our global network and relationships, the strategy has already outperformed expectations for capital deployment in Q1 2025.' Svein Engh, Blue Ocean Senior Managing Director and Portfolio Manager: "The professionals throughout our Blue Ocean network bring decades of industry experience, along with connections and specialized expertise that is unmatched. This allows us to directly source most of our transactions and build genuine, lasting relationships with customers across every sector we serve." Below is more detail on the notable 2024-2025 transactions mentioned above: SEACOR Marine Holdings Inc. is a public company that provides global marine and support transportation services to offshore energy facilities, predominantly oil and gas exploration and production, decommissioning support, and offshore wind. Proceeds from the $391 million secured debt issuance were used to refinance all existing indebtedness. Additionally, some of the capital will be used to partly finance the construction of two multi-purpose platform supply vessels. Belships ASA specializes in owning and operating dry bulk carriers and delivering a range of shipping, trading, and management solutions to the global bulk shipping, offshore, and freight handling markets. This deal is supported by a modern fleet of 30 predominantly Japanese-built Ultramax bulkers, with an additional 12 newbuildings on order, a low-cost financing structure, and flexible purchase options on lease-financed vessels. Rocktree Group is a leading infrastructure service provider through a global network of offshore and onshore terminals, shuttle and self-discharging vessels, barges, shipyards and other turnkey solutions. The Blue Ocean financing supported Rocktree Group's acquisition of a complementary logistics company and provides dry powder for additional growth. The transaction is an illustration of the strategy's ability to provide financing to a broad range of maritime-adjacent sectors. About EnTrust Global EnTrust Global is a leading global alternative asset management firm. Founded in 1997 by Chairman and CEO Gregg S. Hymowitz, the firm manages assets for over 600 institutional investors. EnTrust Global provides alternative investment solutions through commingled funds and customized funds-of-one, with a focus on opportunistic credit, maritime finance, energy transition and sports, media and entertainment strategies. EnTrust Global has 11 offices worldwide and is headquartered in New York and London. To learn more about Blue Ocean, please visit
Yahoo
6 days ago
- Business
- Yahoo
EnTrust Global's Blue Ocean Marks Record Year with SEACOR Marine, Belships ASA, and Rocktree Group Deals
Maritime finance group deployed $2.1 billion across more than 20 transactions in 2024 and Q1 2025, with $6.1 billion invested since inception NEW YORK, June 03, 2025--(BUSINESS WIRE)--Blue Ocean, a maritime finance investment platform managed by EnTrust Global, a leading alternative asset management firm, today announced that it deployed over $2.1 billion across more than 20 transactions in 2024 and Q1 2025. This success was driven by Blue Ocean's largest-ever debt deal with SEACOR Marine Holdings Inc.; largest equity deal and first public company take-private with Belships ASA; and an up to $350 million senior secured financing for Rocktree Group, marking Blue Ocean's expansion into the South American logistics market. Notably, in 2024, Blue Ocean completed its 100th transaction since the strategy's inception, further cementing itself as a market leader for alternative financing to the maritime industry. As of March 31, 2025, Blue Ocean has already deployed approximately $838 million across six transactions this year. In aggregate, the strategy has now invested approximately $6 billion since launching in 2017, while building a reputation for providing timely, comprehensive financing solutions throughout the capital structure. Gregg S. Hymowitz, Chairman and Chief Executive Officer of EnTrust Global:"These transactions and record growth reflect a major milestone in Blue Ocean's reputation as a dependable strategic financing partner for borrowers and other investors. Thanks to our global network and relationships, the strategy has already outperformed expectations for capital deployment in Q1 2025." Svein Engh, Blue Ocean Senior Managing Director and Portfolio Manager:"The professionals throughout our Blue Ocean network bring decades of industry experience, along with connections and specialized expertise that is unmatched. This allows us to directly source most of our transactions and build genuine, lasting relationships with customers across every sector we serve." Below is more detail on the notable 2024-2025 transactions mentioned above: SEACOR Marine Holdings Inc. is a public company that provides global marine and support transportation services to offshore energy facilities, predominantly oil and gas exploration and production, decommissioning support, and offshore wind. Proceeds from the $391 million secured debt issuance were used to refinance all existing indebtedness. Additionally, some of the capital will be used to partly finance the construction of two multi-purpose platform supply vessels. Belships ASA specializes in owning and operating dry bulk carriers and delivering a range of shipping, trading, and management solutions to the global bulk shipping, offshore, and freight handling markets. This deal is supported by a modern fleet of 30 predominantly Japanese-built Ultramax bulkers, with an additional 12 newbuildings on order, a low-cost financing structure, and flexible purchase options on lease-financed vessels. Rocktree Group is a leading infrastructure service provider through a global network of offshore and onshore terminals, shuttle and self-discharging vessels, barges, shipyards and other turnkey solutions. The Blue Ocean financing supported Rocktree Group's acquisition of a complementary logistics company and provides dry powder for additional growth. The transaction is an illustration of the strategy's ability to provide financing to a broad range of maritime-adjacent sectors. About EnTrust GlobalEnTrust Global is a leading global alternative asset management firm. Founded in 1997 by Chairman and CEO Gregg S. Hymowitz, the firm manages assets for over 600 institutional investors. EnTrust Global provides alternative investment solutions through commingled funds and customized funds-of-one, with a focus on opportunistic credit, maritime finance, energy transition and sports, media and entertainment strategies. EnTrust Global has 11 offices worldwide and is headquartered in New York and London. To learn more about Blue Ocean, please visit View source version on Contacts Keegan Baleskbales@
Yahoo
22-03-2025
- Automotive
- Yahoo
Honda Strikes Deal With Toyota to Avoid Tariff Risks
Honda is making an unexpected move to navigate the shifting landscape of U.S. tariffs — buying hybrid batteries from longtime rival Toyota. The deal, reported by the Japanese newspaper Nikkei, allows Honda to sidestep hefty import tariffs on components sourced from China and Japan while giving Toyota's new $14 billion North Carolina battery plant an early win. Toyota and Honda have been fierce competitors for decades, battling for dominance in the hybrid market. But with the Trump administration's new tariffs — including a 10% levy on Chinese imports that took effect this month and an expected jump from 2.5% to 25% on Japanese-built vehicles — Honda is under pressure to rethink its supply chain. Rather than absorb the costs or pass them to consumers, the company is securing 400,000 Toyota-built hybrid battery packs per year starting in April 2025. The move makes sense for both automakers. Honda, which sold over 308,000 hybrids in the U.S. last year, is planning to expand its hybrid lineup and needs a stable, tariff-free battery supply. Toyota, meanwhile, gets a major customer to help justify its massive battery investment in North Carolina. The deal also signals a broader trend of Japanese automakers reducing dependence on Chinese suppliers in favor of domestic or U.S.-based production. While details on which Honda models will use Toyota-supplied batteries remain unclear, the popular CR-V Hybrid is a strong contender. With Honda aiming to grow hybrid sales, securing a U.S.-based battery source helps ensure production remains uninterrupted, even if tariffs on foreign-built components continue to rise. However, this isn't an alliance in the traditional sense. Honda is simply purchasing batteries from Toyota without a reciprocal deal in place. Toyota's North Carolina plant, covering over seven million square feet, will be a key supplier not just for its own hybrid and EV models but also for a competitor. Honda and Toyota aren't the only manufacturers reconfiguring supply chains to avoid tariffs. Volkswagen and Porsche are weighing U.S. production to bypass import duties, while Volvo delayed the launch of the EX30 to dodge a 100% tariff on Chinese-made EVs. Meanwhile, domestic automakers like GM and Stellantis have already cut production at plants in Canada and Mexico, where tariffs could soon hit hard. For Toyota, the deal with Honda helps justify its $14 billion U.S. battery investment. For Honda, it's a way to avoid price hikes and maintain competitiveness in a rapidly changing market. As trade policies continue to shift, more automakers may find themselves making similar unexpected partnerships to keep their businesses running smoothly. Whether this deal evolves into something more remains to be seen. If tariffs continue to escalate, we could see further collaboration between automakers that once saw each other strictly as rivals. For now, it's a pragmatic business decision — one that underscores just how much the global automotive landscape is shifting.
