Kookmin reconsiders Sungdong [General]
South Korea's Kookmin Bank is known to reconsider putting its hands back on supporting Sungdong Shipbuilding & Marine Engineering. According to financial market on 16 December, Kookmin bank has started reviewing in regard of financing the Tongyoun...
2011-12-16 16:27:35
Yards Restructuring "2nd Round" [General]
Shipbuilders are recommended to change business portfolio in the face of the second round of restructuring next year. Analyst Sung Ki-Jong from Daewoo Securities of South Korea said on 16 December, "New order is expected to sharply decrease by wit...
2011-12-16 15:13:29
Samsung "Undaunted" [Finance]
Daewoo Securities of South Korea maintained its buying opinion and target share price of KRW 40,000 ($34.6) for Samsung Heavy Industries, focusing on its possibility in stable new order and firm growth than worrying about slow down in business perfor...
2011-12-16 12:45:06
Chinese bash equipment price [Equipment]
As an aftermath of Chinese builders' low-margin new order, cost cut on marine equipment manufacturers becomes demanding. Chinese sources said that yards' requests to cut price of marine equipment had been getting stronger since this summer when th...
2011-12-16 11:35:24
Banks pressure builders [Finance]
Financial institutions demand builders for restructuring or reducing loans in the face of troubled shipbuilding market. Unnamed South Korean bank, with loan portfolio highly focused on builders, has recently requested one of its client yards to se...
2011-12-16 10:56:57
Chinese to order 8 Pax. [Shipbuilding]
Chinese coastal shipowner Shenhua Zhonghai Shipping is looking to order eight panamax bulkers at a domestic yard. The joint-venture company owned by Shenhua Group and China Shipping Group (CSG) is in talks with domestic shipyards to book the 76,0...
2011-12-16 10:41:12
Big3 pro-active liquidity hunt [Finance]
South Korea's major three builders are pushing forward in securing funds, which is a pro-active refinancing since they have faced tight-money market after Lehman Shock in 2008. Analyst Kim Min-Jung, Daewoo Securities said, "It seems that big three...
2011-12-16 10:12:41
Hyundai Samho inks LNG carriers [Shipbuilding]
Greece's Maran Gas Maritime has firmed up on two anticipated LNG-carrier-newbuilding options at Hyundai Samho Heavy Industries. Contracts on the pair of 164,000-cbm vessels were signed on Tuesday, sources say. The vessels are due for delivery...
2011-12-16 08:48:19
Hyundai Mipo wins 1,850TEU's [Shipbuilding]
South Korean feeder liner Namsung Shipping said it has inked three 1,850-teu vessels at Hyundai Mipo Dockyard for delivery in the first half of 2013. The ships will trade in Southeast Asia — from South Korea to Thailand and Vietnam via Hong...
2011-12-16 08:42:59
New German superpower [Shipping]
German heavyweights Komrowski and Erck Rickmers have confirmed plans to merge. The move creates the country’s largest shipping company by fleet capacity in a single pen stroke. The plot could be followed by further growth with the new allies...
2011-12-16 08:24:40
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