Finance
SHI figures lowered for Q3 forecast
A shipbuilding analyst speculated that Samsung Heavy Industries (SHI) would face lower performance with reduced order book.   “Revenue is getting fixed and reduction of orderbook is at a fast pace. SHI has $21bn of backlog at the end of ...
2017-08-22 07:26:21
Ulsan expands scope of special shipbuilding guarantees
The Ulsan Credit Guarantee Foundation of Korea announced on August 20 that it will expand the scope of its special guarantees for restructuring process in local shipbuilding business. After discussion with the Ministry of Small and Medium Ente...
2017-08-22 07:24:14
“New orders are still needed for DSME”
Management normalization committee at Daewoo Shipbuilding & Marine Engineering (DSME) mentioned that even with a huge improvement in H1 performance, it is still hard to be optimistic for early normalization.   The committee held the th...
2017-08-21 07:13:03
HHI plans to issue private placement bonds
Hyundai Heavy Industries (HHI) is planning its second issue of corporate bond in this year.   According to finance market sources, HHI is currently in talks with investors to issue KRW100-200bn corporate bonds.   The bonds are expec...
2017-08-21 07:07:47
Transocean to take over Songa Offshore
It turned out that Transocean Ltd. ("Transocean" or the “Company”) (NYSE:RIG) has reached an agreement with Songa Offshore SE (“Songa Offshore”) whereby it will, subject to certain conditions, make a Voluntary Exchange Offer (the “Offer...
2017-08-17 07:39:27
HHLA posts significant y-o-y growth
Hamburger Hafen und Logistik AG (HHLA) recorded significant year-on-year growth in its key performance indicators in the first half of 2017. Group revenue rose by almost 9 percent to € 622.8 million. While the Group’s operating result (EBIT) ...
2017-08-17 07:30:44
DSME turns to the black in 1H
Daewoo Shipbuilding & Marine Engineering announced on August 14 that the Korean shipbuilding giant has posted profits for the second successive quarter.   In the first half of 2017, Daewoo racked up revenue of KRW 6.1881trn (around $5...
2017-08-16 07:13:07
MHB posts revenue of RM493m in 1H
Malaysia Marine and Heavy Engineering Holdings Berhad (“MHB” or “Group”) has recently announced its financial results for the six months ended 30th June 2017.  The Group achieved a revenue of RM493.1 million with a pre-tax loss of...
2017-08-14 07:33:15
YZJ sold off its two subsidiaries
As a part of the disposal of its non-core businesses, Yangzijiang Shipbuilding (Holdings) Group (YZJ), one of the largest privately-owned shipbuilders in China, turns out to have sold stakes in its two subsidiaries. According to a foreign medi...
2017-08-14 07:10:34
ABG Shipyard bankruptcy proceedings approved
Bankruptcy proceedings against ABG Shipyard were approved by the Ahmedabad bench of National Company Law Tribunal (NCLT). According to local reports, Justice Bikki Raveendra Babu admitted a plea filed by creditor ICICI Bank Ltd for initiating ...
2017-08-04 07:25:55
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