Finance
DSIC subsidiaries go into insolvency in succession
Two subsidiaries of China's Dalian Shipbuilding Industry (DSIC) have entered liquidation at the request of creditors due to their inability to repay debts. According to Splash, Dalian Intermediate People’s Court recently ruled to liquidate...
2019-03-20 14:41:39
Navig8 signs S&LB agreements with ICBC FL
Navig8 Chemical Tankers Inc. (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it has entered into sale and leaseback agreements with ICBC Financial Leasing Co.,...
2019-03-19 10:45:28
3rd try for Sungdong sale scheduled in April
The deadline for submitting Sungdong Shipbuilding & Marine Engineering's rehabilitation plan has been extended again as the sale of the Korean debt-stricken shipbuilder is repeatedly delayed. The current process of stalking-horse bidding will...
2019-03-18 16:28:42
Maersk secures financing for NB boxships
Maersk Line turns out to have secured lease financing for the construction of a total of 13 feeder containerships.   According to industrial source and TradeWinds, the Danish international container shipping company raises money from...
2019-03-18 14:11:18
German bank provides ship financing for two ships
KfW IPEX-Bank is providing EUR 16.43 million to Royal Arctic Line A/S to finance two additional transport vessels. In November 2018, KfW IPEX-Bank concluded a pre- and post-delivery financing for two similar vessels for the Greenland shipping com...
2019-03-18 10:56:10
$3bn needed for modernization of Zvezda
The government of Russia has estimated that costs for the modernization of its state-run shipyard Zvezda Shipbuilding Complex (SSC Zvezda) would reach about RUB 202bn (about $3.06bn). According to Interfax, Russian companies like Rosneft, Rosn...
2019-03-11 15:46:28
Chinese lease houses advance on market
China has been definitely notable in the global ship finance market. During the 'China Ship Finance & Offshore Summit' which was held in Shanghai, China, on March 5 and March 6, representatives from Greek shipowners agreed that they prefer...
2019-03-11 08:31:53
HHIC creditors fixed debt-equity swap
Korean and overseas creditors of Hanjin Heavy Industries and Construction (HHIC) have decided to go into debt-equity swap. The company stated through a regulatory filing on March 6 that a KRW687.4bn recapitalization is decided. The decision ha...
2019-03-07 08:21:05
Commercial banks find ship financing 'interesting'...
The Korea Ocean Business Corporation (KOBC) issued a KRW17.8bn worth guarantee for two VLCCs Daehan Shipping had ordered at a Korean yard on February 25. The senior loan was provided by KDB, KEXIM, and BNP Paribas, while the subordinated loans...
2019-03-05 08:27:23
KfW IPEX-Bank to provide financing for AIDA's LNG Cruis
KfW IPEX-Bank is structuring the financing for another cruise ship for AIDA Cruises that is powered with Liquefied Natural Gas (LNG). The Meyer Werft shipyard in Papenburg was once again commissioned to build the ship. This is the second siste...
2019-03-04 08:41:57
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