Finance
Gulf capital used to buy Polish shipyards
Gulf capital is behind the consortium which bought two of Poland's three historic shipyards this week, Polish Prime Minister Donald Tusk indicated Saturday. "There is a specific fund which represents the interests and financial potential of that ...
2009-06-02 05:51:38
Malta Shipyards sale: Submit fresh financial offers
The government has asked bidders who submitted offers for the four business units comprising the Malta Shipyards to reconsider the financial portions of their bids. Bidders who are considering revising their financial offers upwards have until 20...
2009-06-01 13:28:09
Banks request more security and early payment
German owners are facing tougher conditions when it comes to bank financing. “When we see a chance to adjust a client’s interest rates we will take it,” said Ulrich Ellerbeck, board member of German shipping bank Deutsche Schiffsbank. Compet...
2009-06-01 07:30:48
CSAV secures $710m fresh capital lifeline
Chilean container line CSAV has reached agreement with German shipowners to ensure its survival with a programme to inject $710m in capital. The programme, which has been agreed with German shipowners, will see $710m in capital injected into the ...
2009-05-29 16:44:42
Creditors still eager to revive Jinse
Three non-life insurance companies which are creditors of Jinse Shipbuilding of South Korea are requesting another creditor banks to delay collecting debts but the banks are refusing to do so. Meritz Fire & Marine Insurance, Heungkuk Fire & Marine...
2009-05-29 11:54:12
KG industry to retain its role
The renowned German ship financing scheme via closed-end KG funds is under ever closer scrutiny in these austere times. Some industry watchers have already read the death rites over the German way of ship financing though others believe that KG co...
2009-05-29 07:52:38
Hyundai revenue rises 15.11%
On May 26th, Hyundai Heavy Industries of South Korea, the world’s largest shipbuilder, announced in a regulatory filing that its revenue for April totaled KRW 1.82trn ($1.45bn), up 15.11% against a year earlier. However, the figure is down 5.91%...
2009-05-27 11:50:15
3. Maj reports net deficit for Q1
Croatian shipbuilder 3. Maj has plunged to a loss in the first quarter as costs soared. The company told the Zagreb Stock Exchange that its net deficit to 31 March was HRK 69.2m ($13.2m), compared to a profit of HRK 9.9m in the same three months l...
2009-05-27 08:02:18
Wadan secures guarantees for ro-pax order
The German government granted crisis-ridden Wadan Yards in Wismar and Rostock-Warnemünde guarantees to secure the building of a ro-pax ferry for Stena Line. The government’s steering committee for corporate financing had taken a favourable...
2009-05-27 07:51:36
Japanese owners run into fund shortage
There is growing concern that some Japanese shipowners may face a shortage of own funds which they need to spend when procuring their newbuildings. They have been unable to build up their profit due in part to the swollen seafarer and other ship-rela...
2009-05-26 09:09:29
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