Finance
RCL secures $680m loan for cruiseship
A long term Eur 485.6m ($680m) loan to help pay for the 2,850 passenger cruise ship, Celebrity Solstice V, has been agreed between Royal Caribbean Cruises and German lenders. The 12 year unsecured loan at a fixed rate of interest of 4.13% with the...
2008-12-26 07:50:48
UAE to buy Bijela
Montenegro’s Jadransko Brodogradiliste Bijela shipyard could come under Arab control following the country’s latest privatisation initiative. Abu Dhabi Ship Building emerged as the sole bidder in a third attempt to sell the Bijela repair yard....
2008-12-26 07:40:47
ABG profit would climb 25%
ABG Shipyard Ltd., India’s biggest non-state shipbuilder, expects profit to increase 25 percent this year, aided by gains in its year-old offshore oil-rig business. Net income for the year ending March 31 will probably climb to 2 billion rupees...
2008-12-26 07:33:53
Hanwha seeks to delay DSME deal
South Korea's Hanwha Group, the preferred buyer for a controlling stake in Daewoo Shipbuilding, is seeking to delay payment for the acquisition due to funding constraints, raising concerns the deal could collapse. Hanwha and Daewoo's top sharehold...
2008-12-24 17:41:06
CSIC, to issue RMB 3bn notes
China Shipbuilding Industry Corporation (CSIC), one of the country's largest shipbuilding and ship-repairing groups, announced on Tuesday that it will issue RMB 3 billion worth of five-year notes on Dec. 29, market sources reported. CSIC said in ...
2008-12-24 17:38:49
PNG LNG tenders start
Papua New Guinea(:PNG) LNG has held prequalification talks that will see it tender in the new year for four Q-flex giants. ExxonMobil-led PNG LNG has been making initial moves to secure the LNG carriers it may need for its Papua New Guinea-based ...
2008-12-24 08:59:12
Vale's $1.6bn orders take effect
Cia. Vale do Rio Doce, the biggest iron-ore supplier, paid an initial $240 million to China’s Jiangsu Rongsheng Heavy Industry Group Co. for 12 bulk carriers, allaying concern the orders would be canned, two executives said. Brazil’s Vale will...
2008-12-23 17:47:16
Indonesia gives $70m loan for shipbuilding
Indonesia state-run Bank Negara Indonesia (BNI), the nation's third largest lender, agreed Monday to channel US$70 million of standby loans to state mining company PT Timah to complete the building of 10 vessels currently being delayed by the state s...
2008-12-23 17:26:19
Shipbuilders face forced restructuring
The Korea's shipbuilding industry will be subject to a massive overhaul starting early next year. A task force will be created to coordinate the effort, comprised of officials from banks, accounting firms and credit rating companies. The credi...
2008-12-23 17:11:57
DSME sale follows exceptional M&A
Hanwha Group, the priority negotiator for DSME sale by KDB, reached agreement with Korea Development Bank (KDB) to sign formal contract first prior to actual inspection of the shipbuilder. Both are planning to start negotiation from this week and ...
2008-12-23 11:47:34
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