DP World to acquire DMC and Drydocks
DP World Limited announced on 18 September that it has entered into agreements to acquire Maritime World LLC, the 100% owner of Dubai Maritime City (DMC), for a purchase consideration of US$ 180 million and to buy 100% of Drydocks World LLC (Dryd...
CMA CGM confirms new ULC order
The Board of Directors of the French group CMA CGM, one of the world leaders in maritime container transport, met to review the accounts for the second quarter of 2017. Q2 Activity and Financial Results During Q2 2017, volumes carried grew ...
DSME secures transparencies in accounting
Before a test to determine suitability for listing, Daewoo Shipbuilding & Marine Engineering received a clean opinion via accounting audit. One accounting firm conduct an audit on Daewoo's first half 2017 results from April 17 to September...
OceanSaver files for bankruptcy protection
OceanSaver, a Norwegian ballast water management system (BWMS) manufacturer, has recently filed for bankruptcy protection. According to TradeWinds and an official at the company on September 15, OceanSaver lost an arbitration claim agai...
CSICL acquires shares in DSIC and WSIC
China Shipbuilding Industry Corporation (CSIC) is reorganizing its shipbuilding assets by acquiring shares in its own shipyards. On Monday (local time), Shanghai-listed China Shipbuilding Industry Co Ltd (CSICL) under CSIC announced that...
Seadrill files chapter 11 with restructuring plan
Seadrill Limited ("Seadrill" or the "Company") has entered into a restructuring agreement with more than 97 percent of its secured bank lenders, approximately 40 percent of its bondholders and a consortium of investors led by its largest sharehol...
Is there any hope for Qingdao Yangfan?
Qingdao Yangfan Shipbuilding of Yangfan Group, which has entered bankruptcy and restructuring procedure last year, is facing strike of workers. On last September 11, about 300 workers demonstrated against Beijing Jianlong Heavy Industry ...
Imminent massive restructuring for CSIC
China Shipbuilding Industry Corporation (CSIC) recently announced that the company is poised to start a restructuring agreement with a party by September 15, which would accelerate its currently ongoing group consolidation. According to a repo...
Triyards went into trading suspension
Triyards Holdings has converted its trading halt into a trading suspension with immediate effect, after being slapped by demand letters from two lenders. Triyards is the yard-operating unit of offshore marine giant Ezra Holdings, which filed f...
YZJ to raise funds via private share sales
Yangzijiang Shipbuilding (Holdings) Group (YZJ), one of the largest privately-owned shipbuilders in China, is to raise funds of about SGD 209m (approximately $154m) in total through a private share sale, with the goal of providing working capital...
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