Finance
“The sale process should end soon”: DSME CEO says
“The sale process has been delayed and it causes delay of major managerial decisions such as investment in facilities and restructuring of the company.” said Sangtae Nam, the president of Daewoo Shipbuilding & Marine Engineering (DSME) at a meeti...
2008-12-22 07:39:46
Major Korean hit all-time high
While global financial crisis and economic recession go on, South Korean listed large shipbuilders’ business results are expected to hit all-time high. According to the data from FnGuide, a stock analysis company in korea, most of the business s...
2008-12-22 05:57:31
Davie gets state backing
Canada’s Davie Yards has secured vital state backing that will safeguard its offshore vessel orderbook and allow it to complete its financial restructuring. The country's international trade minister Stockwell Day has approved financing and gua...
2008-12-19 06:40:34
KDB, Hanwha in Chicken Game
Hanwha Group and the Korea Development Bank (KDB) are locked in a game of chicken over Daewoo Shipbuilding and Marine Engineering (DSME). With the clock ticking to the year-end deadline set by the bank, the main creditor of the world's No. 3 shipy...
2008-12-18 19:25:31
Hanwha pushes to formal contract for DSME
Hanwha Group, the priority negotiator for Daewoo Shipbuilding & Marine Engineering (DSME) sale by Korea Development Bank (KDB), plans to start negotiations next week with KDB for the signing of the formal contract as the actual inspection of DSME is ...
2008-12-17 08:03:34
KDB provides liquidity
Korea Development Bank (KDB) provides financial support to shipbuilding and construction companies in South Korea apart from the agreement between the companies and their creditors. On December 16, KDB entered into an agreement with some 10 shipbu...
2008-12-17 08:00:03
Croatia to put state shipyards on sale Jan. 20
Croatia plans to call international tenders for the sale of its ailing shipyards on Jan. 20, in a key part of its European Union membership preparations, a source involved in talks with the EU said on Tuesday. Croatia has five shipyards. All but o...
2008-12-17 07:41:49
Bulker prices plummet
Due to financial crisis and economic recession, both newbuilding price and secondhand price for bulker are plummeting according to Nihon Geizai Shimbun. As rising nations’ shipment of goods and raw materials decreases, shipping rates plunged and...
2008-12-16 15:09:36
Poland yards get mid-2009 sale deadline
Moves to sell Poland´s two largest newbuilding shipyards, Stocznia Gdynia and Stocznia Szczecin, have moved forward. The lower house of parliament, or Sejm, has flagged through legislation enabling their planned disposal in an unrestricted tender...
2008-12-16 09:23:30
German aid, still hungry...
A union boss says the state aid on offer is not enough to help shipyards weather the downturn. The German government´s refusal to single out shipyards for special treatment has raised concerns over prospects for the world´s fourth-largest builde...
2008-12-16 09:03:31
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