Finance
Hanwha calls for partial sale of Daewoo
South Korea's Hanwha Group said Wednesday that it urged Korea Development Bank (KDB) to partially sell its stake in Daewoo Shipbuilding & Marine Engineering, but its call was rejected. "We proposed that KDB sell a portion of its stake in Daewoo Sh...
2009-01-15 06:57:13
Restructuring target: Two to three?
On January 14th in South Korea, creditor banks have tentatively finished evaluating 19 small- and medium-sized shipbuilders’ credit risk and it seems two to three shipbuilders would face restructuring (debt workout or liquidation) according to the ...
2009-01-15 06:20:56
Hyundai Mipo boost
Hyundai Mipo Dockyard, one of South Korea’s major shipbuilders, would maintain its growth momentum in profits by 2010, at least, said WOORI Investment & Securities today. It reckoned Hyundai Mipo’s ratios of operating gain to revenue in 2008 a...
2009-01-14 15:26:06
India review new shipyard projects
India which had planned a major expansion of their shipyard capacities has begun to either review some of their new projects or put off others. They have been forced to do so by the difficulties in fund procurement and the depressed shipbuilding mark...
2009-01-14 09:56:12
ThyssenKrupp takes 100% ownership of its shipyards
ThyssenKrupp Technologies AG, a unit of German steelmaker and engineering company ThyssenKrupp AG, said Tuesday that it has acquired the 25% stake in ThyssenKrupp Marine Systems AG held by One Equity Partners, or OEP, becoming the sole owner of the E...
2009-01-14 07:14:47
Resubmit financing plans: Daewoo sale
Korea Development Bank, in talks to sell Daewoo Shipbuilding to Hanwha Group, asked Hanwha on Tuesday to rework its financing plan amid speculation the estimated $5 billion sale could fall apart. State-run KDB, a top shareholder in Daewoo Shipbuil...
2009-01-13 17:44:09
Hanwha to parley DSME deal
South Korea’s Hanwha Group said Monday it will negotiate the terms of its takeover of Daewoo Shipbuilding & Marine Engineering with the Korea Development Bank this week. KDB, the main creditor of Daewoo Shipbuilding, threatened Thursday to scra...
2009-01-13 07:30:52
DSME deal in danger of collapsing
The planned sale of Daewoo Shipbuilding to Hanwha Group for about $5 billion is likely to fall apart on financing concerns, despite efforts by the South Korean government to save the deal, people familiar with the matter said. Hanwha was chosen by...
2009-01-12 10:20:12
PT PAL may get $60m rescue loan
The State Ministry for State Enterprises is expected on Monday to approve a $55 million to $60 million loan package it hopes will save ailing state-owned shipbuilder PT PAL Indonesia, a ministry official said on Sunday. The mechanism and time frame f...
2009-01-12 07:51:59
Armada has $375m loss: shipping derivatives
Armada (Singapore) Pte, the largest casualty of the collapse in commodity shipping markets, has a potential $375 million loss on shipping derivatives, the company said in a U.S. court filing. The contracts cover future hire rates for vessels carrying...
2009-01-12 06:47:36
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