Finance
Dayang Shipbuilding goes into bankruptcy
Yangzhou Dayang Shipbuilding, a subsidiary yard of Sinopacific Shipbuilding has declared bankruptcy and started a liquidation process. The shipbuilder sent a notice to executives and staff on July 24 that the company has been suffering from fi...
2017-07-27 07:24:31
Sembcorp-Keppel potential merger gathering attentions
Talks about a potential merger of Singapore’s top two shipbuilding companies, Sembcorp Marine and Keppel Offshore & Marine are emerging on the surface.   Through a recent report, DBS Vickers Securities, the largest security company i...
2017-07-27 07:23:48
SWS swallowed poisoned apples?
After taking the lion's share in last year's competition among Chinese yards for winning next-generation Valemax series, CSSC-affiliated Shanghai Waigaoqiao Shipbuilding (SWS) has written down the value of the 14 400,000 dwt ore carriers by CNY 6...
2017-07-27 07:20:44
HHI Group spurs management improvements
Hyundai Heavy Industries (HHI) Group is speeding its management improvement plan with consecutive successful disposals of non-core assets.   HHI announced on July 26 that it is disposing of all its share in Hotel Hyundai, its own subsidiar...
2017-07-27 07:14:36
STX Heavy going into M&A
STX Heavy Industries announced on July 24 that it will proceed its M&A through a competitive open tender.   In its announcement, the company explained that “Seoul Bankruptcy Court approved our rehabilitation plan on January 13, 2017,...
2017-07-26 07:09:10
GTT records strong financial performance in 1H
GTT (Gaztransport & Technigaz) of France has recently revealed its 2017 first-half results.   Key figures for the first half of 2017 ● 13 orders received during the first six months of the year ● Growth in revenues from serv...
2017-07-25 07:39:22
Schlumberger to buy 51% shares in Eurasia Drilling
On July 20, Schlumberger announced an agreement to acquire a majority (51%) equity interest in Eurasia Drilling Company Limited. Closing of the transaction is subject to approval by the Federal Antimonopoly Service of Russia (FAS). The agre...
2017-07-25 07:31:10
ABG goes through bankruptcy process
India's largest privately-owned shipyard ABG Shipyard is finally going to go through a bankruptcy process due to its default.  It seems that multiple creditors have submitted petitions for the liquidation of the debt ridden company, a Ind...
2017-07-25 07:20:49
KTB, KDB & Uni-Asia ink MOU for ship fund
KTB Asset Management, Korea Development Bank (KDB), and Japan’s Uni-Asia convened at the Westin Chosun Hotel in Busan on July 20th to sign an MOU for the financing of KDB’s Ocean Value-up Fund program.   14 delegations from the partici...
2017-07-21 07:13:23
Korea supports naval shipyards
The Defense Acquisition Program Administration (DAPA) of Korea announced that the administration signed a contract with its compatriot naval shipbuilders Daewoo Shipbuilding & Marine Engineering and Hanjin Heavy Industries & Construction ...
2017-07-20 07:27:25
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