Finance
STX to sell stakes in STX Europe to recover cost
It is reported that STX Shipbuilding is planning to sell part of its stake in STX Europe in order to recover some of the cost of the takeover. It may be noted that STX Shipbuilding acquired Norwegian group Aker Yards in 2007 for USD 1 billion and lau...
2009-02-16 10:06:10
Kamsarmax newbuilding resale reflects ship value fall
A kamsarmax newbuilding nearing completion at Oshima Shipbuilding has been sold for between $35m and $36m, brokers report Friday. Buyers of the vessel, which is due for March 2009 delivery, are undisclosed. The seller of the 82,000-dwt bulker is n...
2009-02-16 07:16:35
14 bids received for Malta Shipyards
Fourteen bids were received for the privatisation of the Malta Shipyards, when the international call for offers closed. Although the government had previously received 52 expressions of interest from prospective bidders, the Privatisation Unit only ...
2009-02-16 06:58:53
Chinese to freeze shipyards expansion
China's State Council today agreed a stimulus plan for shipbuilding, but said that shipyards should suspend construction of new docks and the expansion of slipways for three years to facilitate industrial restructuring. The State Council adopted the ...
2009-02-13 13:42:45
Eagle Bulk pockets cash windfall
Eagle Bulk Shipping bagged a $13.7m cash windfall this week but still saw its share price drop on Wednesday. The coffers are being swelled by the settlement of foreign exchange contracts relating to three newbuildings at a Japanese yard, the Nasdaq-q...
2009-02-13 07:42:05
Namura cuts profit forecast
Japan’s Namura Shipbuilding has slashed its annual profit forecast amid slowing growth in the first nine months of its financial year. The company said net earnings in the three quarters to 31 December were JPY 2.37bn ($26.35m), compared to JPY ...
2009-02-13 07:35:55
SIF 2 sells its holding in STX Europe’s Braila shipyard
Romania’s SIF 2 Moldova investment fund has sold its total holding of 7.02% in STX Europe’s Braila shipyard. SIF 2, one of Romania’s five geographically-defined funds, said the block went for RON 7.2m ($2.2m). Last September, the shipbuil...
2009-02-13 07:33:36
KG companies: Hard to get funds for newbuilding payment
Germany’s KG ship finance system has been plunged into crisis by unprecedented demands from banks that have sent containership owners scurrying to the shipyards for financial relief. Most banks are insisting that KG funds provide firm guarantees no...
2009-02-13 06:57:39
SCI in need of emergency funding for newbuilding projects
State-owned Shipping Corp of India (SCI) is seeking emergency funding of INR 100bn ($2.05bn) to pay for its big newbuilding programme. India’s Financial Chronicle cited SCI boss Sabyasachi Hajara as saying its plans to secure new ships have been...
2009-02-12 08:07:47
Croatia docks on sale in late Feb or March
Croatia hopes to call international tenders for the sale of its ailing shipyards in late February or March, an official source close to the selloff process said on Monday. Sale of country's heavily state-subsidised shipyards, which are on the Adri...
2009-02-11 11:29:34
Start  Prev  521  522  523  524  525  526  527  528  529  530  Next  End