Finance
Daewoo No.1 Productivity
Daewoo Shipbuilding & Marine Engineering (DSME) recorded the highest labor productivity last year among the big 4 shipbuilders in South Korea. Last year, DSME, whose employees amount to 11,830, posted revenue of KRW 11.0746trn ($8.289bn) which mea...
2009-03-27 06:17:30
Daewoo to sell KWD 500bn in bonds
Daewoo Shipbuilding & Marine Engineering, the world's No. 2 shipbuilder, said on Tuesday it would sell 500 billion won ($361.4 million) in three-year domestic corporate bonds. Daewoo said in a filing with the financial regulator that proceeds from th...
2009-03-26 07:43:30
VLR collets debt
Vakaru Laivu Remontas (VLR), a shiprepair subsidiary of Lithuania’s Western Shipyard, has recovered nearly LTL 400,000 ($156,000) in debt and penalties from Norway’s Porsoy. VLR had taken Porsoy to court over its delay in paying the Klaipeda comp...
2009-03-26 07:40:19
Shipbuilders sending SOS
South Korean shipbuilders which are experiencing severe financial difficulties due to newbuilding order drought are requesting help from government. Liquidity position of the shipbuilding firms abruptly deteriorated due to newbuilding order cessat...
2009-03-26 06:15:44
J Lauritzen profits halve
Danish shipping group J Lauritzen saw profits more than halve to $154.7m last year after achieving a record result of $347.1m in 2007, but expects to remain in the black in 2009 despite the market environment. Writedowns and provisions totalling $209...
2009-03-25 07:11:50
C& Heavy: Help at hand
Embattled shipbuilder C& Heavy Industries says it is close to selling out to a Malaysian company. C& Heavy, which has resisted calls to file for insolvency, has penned a non-binding sales agreement with the mystery bidder. In a stock exchange f...
2009-03-25 07:03:53
South Korea: 25% to receive C or D grades
Among the group of 70 construction companies and 4 shipbuilders subjected to receive evaluations for the second round of restructuring, around 20 companies are expected to undergo a workout process or be liquidated from the industry. The figure accou...
2009-03-25 06:58:49
China plans KG financing
Central government is looking seriously at Germany’s KG system of financing ships as a way to help its beleagured, bloated shipbuilding industry through the downturn. Sources in Shanghai say that Beijing acknowledges its initial shipbuilding st...
2009-03-25 06:50:45
Ultrapetrol booms
Strong revenues and a positive derivatives performance helped Argentine diversified shipowner Ultrapetrol to it “best year” to date. Operating and financial expenses were well ahead of 2007 but a reversal of fortunes in forward freight agreement ...
2009-03-24 13:20:39
Hyundai to Issue 1Tril. Bonds
Hyundai Heavy Industries is considering issuing a minimum of 1 trillion won in domestic bonds in a bid to secure cash amid the industry's prolonged downturn. "Hyundai Heavy needs to improve cash flow because of few ship orders," a credit analyst t...
2009-03-24 09:02:19
Start  Prev  511  512  513  514  515  516  517  518  519  520  Next  End