Finance
KfW IPEX-Bank finances cruise ship for Carnival
Financing for the world's largest leisure travel company, Carnival Corporation & plc: KfW IPEX-Bank is providing approximately EUR 786 million for the construction of a new cruise ship. KfW IPEX-Bank is handling the entire structuring of the ...
2018-07-11 07:19:14
Chinese yards rearranging debts
China Ocean Industry Group, the parent group of Jiangxi Shipbuilding signed a debt restructuring deal with another Chinese yard, Zhejiang Ouhua Shipbuilding. Under the agreement, China Ocean Industry is transferring 40% shares in its fully sub...
2018-07-11 07:10:16
STX canceled LOI over RG problem
It is understood that STX Offshore & Shipbuilding (STX O&S) got one of its signed LOIs canceled due to KDB’s refusal on RG. The industry heard the LOI canceled was for one 50,000-dwt MR with a Taiwanese operator Sincere Navigation. ...
2018-07-11 07:09:14
STX missing RG for nine MR tankers?
It is heard that Korea Development Bank (KDB) is withholding RG for nine MR tankers STX Offshore & Shipbuilding (STX O&S) have secured. According to TradeWinds, the bank is withholding RG for two contracts (three unit deal and two unit...
2018-07-10 07:17:12
Korea Ocean Business Corporation opens office
Korea Ocean Business Corporation officially started its operation on July 5, 11 months after the government revealed its intention to establish the corporation. The Ministry of Oceans and Fisheries (MOF) finished legal procedures of establishm...
2018-07-06 06:40:03
Seadrill announces emergence from Chapter 11
Seadrill Limited ("Seadrill" or the "Company") announces (the "Effective Date") that it has emerged from chapter 11 after successfully completing its reorganization pursuant to its chapter 11 plan of reorganization (the "Plan"). All conditions pr...
2018-07-04 07:45:06
'Korea Ocean Business Corporation' launched soon
The Korea Ocean Business Corporation (KOBC) is launched this month.  According to the Ministry of Oceans and Fisheries (MOF), minister Kim Young-Choon swore into office Hwang Ho-Sun, the first president of the state-funded organization, o...
2018-07-04 07:37:02
KTB invests $30m in debt on SHI's TK trio
KTB Asset Management announced on June 1 that it launches a private equity fund worth $30m which invests in mezzanine debt for 155,000 dwt shuttle tanker trio Samsung Heavy Industries (SHI) builds for Teekay for five years. The fund has been l...
2018-07-04 07:36:23
KOMERI-Kibo-NH increase business support
The Korea Marine Equipment Research Institute (KOMERI) has recently signed a memorandum of understanding (MOU) with the Korea Technology Finance Corporation (Kibo) and NH Nonghyup Bank for hunting and helping excellent technology companies. Th...
2018-06-29 06:53:41
Gyeongnam to build KRW40bn aiding fund
Gyeongnam Provincial Government announced on June 26 that it has raised KRW40bn of ‘shipbuilding reorganization fund.’ The government explained that the fund is formed to support local shipbuilding and equipment industries which are plague...
2018-06-28 07:18:55
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