Finance
Kanasashi to seek court protection
Japanese shipbuilder Kanasashi has failed in its two-week hunt for financing. The company has now filed a petition for court protection from creditors at the Shizuoka District Court, according to a Japanese press report. It was reported earlier t...
2009-04-15 07:21:14
Worst seems over: Ship financing
LIG Investment & Securities in Seoul, South Korea said the global ship financing market seems to have passed the worst situation, although it is too early to discuss the recovery of the market. Kim Hyun, an analyst with LIG said, “Ship financing...
2009-04-15 06:22:31
STX secures loans of $417m from Chinese
South Korea’s STX Group has succeeded in securing loans of CNY 2.85bn ($417m) from Chinese financial institutions for the second phase construction of STX Dalian Shipbuilding Base in China. STX said on April 14th that it has won the financing fo...
2009-04-14 15:13:06
Hanjin bargain sale boxship trio
A 6,500-teu trio up for sale at a huge discount has won little interest.Hanjin Heavy Industries of South Korea is struggling to find a buyer for three 6,500-teu post-panamax boxships being marketed at a level some 45% down on their original order pri...
2009-04-14 08:58:36
Diana Shipping acquires Gala Properties
Monday, Diana Shipping Inc., a shipping transportation services provider, said that it has executed an agreement with a related party to acquire a single purpose company, Gala Properties Inc. in exchange for Diana's interest in a vessel with identica...
2009-04-14 07:41:51
PetroProd in liquidation
Bondholders have obtained a liquidation order against Norwegian FPSO and rig owner PetroProd in the Cayman Islands. The bankruptcy-like proceeding for the appointment of a provisional liquidator was filed formally on Friday by Oslo-based bond trus...
2009-04-14 07:28:36
STX Enpaco back on track for IPO
South Korean engine components maker STX Enpaco has resurrected plans for an initial public offering with a proposed listing next month that could generate up to Won29.9bn ($22.7m). The company, an offshoot of South Korea’s STX Corp, initially plan...
2009-04-14 07:18:23
GSI profit plummets
Guangzhou Shipyard International is set to see net profit for the first quarter fall by around 50% to Yuan129m ($19m). In the same period last year it reported earnings of Yuan257.7m. The Hong Kong and Shanghai-listed shipbuilder blamed rising ...
2009-04-14 07:14:59
Red card: "All of sudden"
Commenting on the Eitzen Group's announcement last week of the cancellation of 11 ships on order with Sasaki Shipbuilding Co., an official related to the Japanese yard told Local media in Kaiji press, "The Norwegian shipowner announced a press relea...
2009-04-13 15:55:41
Tsuneishi sales up 13.4%
Tsuneishi Holdings Corp. announced its business results for fiscal 2008 (January-December) at a press conference in Hiroshima Prefecture on Apr. 9. It said that the shipbuilding division posted Y191.9 billion ($1.91bn) in sales, up 13.4% over the yea...
2009-04-13 07:24:02
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