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...
$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...
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...
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...
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...
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...
Korean shipbuilders issue corporate bonds
Korean mammoth shipbuilders Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) have recently issued corporate bonds via private placement. According to Korean financial market sources, HHI issued company stocks worth KRW 1...
Sungdong fails to select buyer again
The second bid for sale of Sungdong Shipbuilding & Marine Engineering has finally been rejected. The sale process starts again and it is expected that a preliminary bid will be opened in March. The Changwon District Court of Korea, which i...
VEB Group finances SCF tankers
Russia's state-owned bank VEB Group supports financing for the three additional tankers of its compatriot operator Sovcomflot. According to industrial sources, VEB-Leasing, an affiliate of VEB Group, is likely to raise RUB 10bn (ab...
Preferred bidder for Sungdong to be chosen soon
It seems that a preferred bidder for the sale of Sungdong Shipbuilding & Marine Engineering will be chosen on February 22. An official at the Changwon District Court noted, "We have decided to provide three tenders with a final opportunity...
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