Nam Cheong called for 6 month moratorium
Nam Cheong Limited, Malaysia's largest OSV builder announced on September 9 that it filed an application with the High Court of the Republic of Singapore for six months of a moratorium. It also announced that it made an application in the ...
HMD disposed of HHI shares
Hyundai Mipo Dockyard (HMD) announced on October 11 that it decided to dispose of 1.8m shares in Hyundai Heavy Industries (HHI) at about KRW263.7bn (around $231.9m) to improve the financial structure and secure liquidity. It accounts for 1...
COSCO receives demolition subsidiary
COSCO SHIPPING Holdings of China COSCO Shipping (COSCOCS) Group announced on September 26 that it has received a total of around CNY510m (about $76m) of subsidy for the demolition of old vessels from the Chinese government. The company said th...
Japanese ODA for Indian recycling yards
The Indian government recently signed a loan agreement with the Japan International Cooperation Agency (JICA) to upgrade environment management of recycling yards in Alang and Sosiya, Gujarat State. The total cost of the project amounts to $11...
Huge deals shaking foreign exchange market
Seoul foreign exchange market is paying close attention to supply and demand of foreign currency as big shipbuilders are consecutively striking deals worth trillions of KRW. The value of the dollar may fall further in short-term if supplies ar...
ABB to acquire GE Industrial Solutions
ABB announced on September 25 the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with ...
GOGL, sale of units and early delivery
Golden Ocean Group Limited (NASDAQ and OSE: GOGL) ("Golden Ocean" or "the Company") announced on September 25 that it has entered into agreements to sell six Ultramax vessels built at Chengxi between 2015 and 2017 en bloc for $142.5 million to an...
DSME to sell DSSW
Daewoo Shipbuilding & Marine Engineering (DSME) is set to dispose of its subsidiary, Samwoo Heavy Industry (DSSW). According to investment bank industry, DSME recently chose Samjong KPMG as the underwriter to proceed the disposal. DS...
DP World to acquire DMC and Drydocks
DP World Limited announced on 18 September that it has entered into agreements to acquire Maritime World LLC, the 100% owner of Dubai Maritime City (DMC), for a purchase consideration of US$ 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 ...
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