Finance
Hanjin holds IR
Hanjin Heavy Industries & Construction of South Korea on May 11th holds an investor relations conference at Hotel Shilla in Seoul for foreign institutional investors. The upcoming Hanjin Heavy’s IR conference backed up by Samsung Securities will...
2009-05-08 14:49:57
Bharati acquires 15% stake in Great Offshore
Bharati Shipyard Ltd has acquired 14.89 per cent of Great Offshore through two wholly owned subsidiaries — Natural Power Ventures and Dhanshree Properties. The transaction was closed at Rs 315 per share on Thursday. The promoters of Great Of...
2009-05-08 11:38:00
China Shipping secures $5.4bn credit line
State-owned China Shipping (Group) has sealed a deal with China’s Bank Communication (BoCom) providing credit lines of up to Yuan30bn ($4.4bn) to China Shipping. BoCom will also offer a further $1bn credit line to China Shipping for ship purcha...
2009-05-08 07:39:24
HCI Capital launches fund to buy ships
German KG finance house HCI Capital plans to launch a fund in cooperation with shipowner Peter Döhle in an effort to cash in on rock-bottom vessel prices. The company said that it would launch a new fund to focus on opportunity-driven invest...
2009-05-08 07:26:16
Cosco profit plummets: Supramax order axed
Cosco Corp, the Singapore-listed shipbuilding arm of China’s largest shipping operator, said a supramax vessel had been cancelled at its Zhoushan shipyard, one of a quartet scheduled for delivery in 2010. Two of the remaining ships are to be del...
2009-05-08 07:06:02
Davie Yards sells $14.4m shares
Davie Yards in Canada has sold the first tranche of its $20m share offering as it continues to secure cash for its future. The sale means Export Development Canada (EDC) can release the first advance of its $200m loan to Norway’s Cecon, which is...
2009-05-07 07:22:24
STX Europe Q1: No Good
STX Europe branded its first quarter performance unsatisfactory as its losses widened. Staff redundancy costs and loss making projects at its Cruise & Ferry division coupled with unrealised currency losses did the majority of the damage. It posted...
2009-05-07 07:18:36
STX Europe searching for new funds
STX Europe is seeking fresh finance in the face of a significant slump in newbuilding orders and as it reports pre-tax losses. The company, which has been part of the STX group since January this year, said it has to replace existing credit facil...
2009-05-07 06:46:17
Seoul injects ship fund
South Korea is planning to inject restructuring fund of some KRW 1trn ($785m) to buy ships owned by shipping companies. At a press conference on May 6th concerning restructuring of shipping industry, Financial Services Commission chairman Jin Dong...
2009-05-07 06:14:26
Rolls-Royce servicing and offshore revenues grow
Rolls-Royce will see an increasing share of revenues from its marine business come from vessel maintenance services and the offshore sector, the president of the operation said. John Paterson said revenues from the marine sector topped ₤2.2bn (...
2009-05-06 13:32:53
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