Finance
Hyundai's debts jump in 2008
Some of South Korea’s leading chaebols involved in transport and shipbuilding are beginning to show worrying levels of debt, according to the Korea Stock Exchange. The South Korean bourse singled out the Hanjin Group, which owns Korean Air, Han...
2009-04-07 06:57:19
Indian yards ask government action
Indian shipbuilders are demanding protectionist measures from their government to end an orders drought. Sources say the Shipyards Association of India (SAI) has asked the government to make it mandatory for Indian shipowners to place their orders at...
2009-04-06 07:08:54
YS Heavy fails to restructuring
Seoul will not be extending a helping hand to cash-strapped YS Heavy Industries. The Yeosu-based shipbuilding and shiprepair company is deemed "non-viable" by South Korea's Financial Supervisory Service (FSS) in the country's latest credit-risk re...
2009-04-06 07:02:30
Indians bonanza
Indian shipyards are likely to pocket up to INR 51bn ($1.02bn) in state subsidies for orders won up to August 2007. ABG could be the biggest winner, bagging INR 17bn, followed by Pipvav with INR 10.5bn and Bharati on INR 10bn, the Business Line da...
2009-04-06 06:27:31
Indonesia lends another $25.6m to shipbuilder
2009-04-03 11:33:23
Golden Ocean bags $110m from equity issue
John Fredriksen’s Golden Ocean has raked in more than expected from an equity issue which completes the rescue of the company. It has bagged $110m from the move after releasing an additional 15 million shares due to high demand. Fredriksen’s H...
2009-04-03 07:37:50
Kanasashi Heavy stops operation
A cash-strapped Japanese shipyard is stopping its shipbuilding activities until help arrives. Kanasashi Heavy Industries is reported to have ceased operations because it failed to secure funds from domestic banks. A shipyard official confirms the ...
2009-04-03 06:51:26
Indonesia boosting vessel order
Indonesia’s shipping financing agency is finding the money to help owners pay for 12 new or secondhand vessels. PT Pengembangan Armada Niaga Nasional (PANN) has agreed to finance vessels to the tune of $82.94m, its president Ibnu Wibowo told the...
2009-04-02 08:23:35
Hyundai sells KRW 300bn bonds
South Korea’s Hyundai Heavy Industries (HHI) may sell only KRW 300bn ($216m) of bonds this month to raise cash due to the lack of new orders. Industry sources said the plans could be unveiled next week. Earlier this month the market had been ...
2009-04-02 08:17:53
TBS heads for loss, ditch newbuildings
TBS International's chief executive said Wednesday that the owner cancelled "contingent arrangements" for 12 tweendecker newbuildings and is expected to suffer a first-quarter loss. Joseph Royce said the Nasdaq-listed bulker and tweendecker player's ...
2009-04-02 08:10:46
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