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...
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...
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...
'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...
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...
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...
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...
Danaos announces debt refinancing agreement
Danaos Corporation, a leading international owner of containerships, announced that it has reached an agreement with certain of its lenders currently holding approximately $2.2 billion of debt maturing on December 31, 2018, that will significantl...
NAU IB builds restructuring fund
NAU IB Capital, a Korean investor announced that it will build a KRW40bn of investment fund aiming shipbuilding market amid restructuring. According to the IB industry, NAU IB Capital decided to organize ‘NAU ACE Partnership Fund’ through ...
Financial chance widen for equipment manufacturers
The Korean government is expending financial support program nationwide. Choi Jong-Gu, Chairman at the Financial Services Commission (FSC) of Korea, commented in his visit at Panasia in Busan that the government will expand its financial suppo...
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