Finance
Korean minor shipbuilders’ financial crisis tripled
It appears that Korean minor shipbuilding companies’ financial crisis deepens after the abrupt stagnation of shipbuilding market, monetary stringency of ship loans market, and the loss from foreign exchange hedge. Financial business industry say...
2008-11-19 14:40:05
HSH NORDBANK will reduce the ship loans in 2009
HSH Nordbank announced the other day that the bank's loans for this year will remain at about 9bn euro to 9.7bn, which is a 20% decrease against the loan amount of 11.8bn euro in 2007. To prepare for the worse economic environment in 2009, the bank h...
2008-11-19 09:10:25
Bharati Shipyard yet to receive order for FCCB conversion
Nov. 17 Bharati Shipyard Ltd, which has outstanding Foreign Currency Convertible Bonds (Tranche I) due for redemption on December 13, has not received instruction from diverse FCCB holders for conversion yet. A senior official of the company on condi...
2008-11-19 08:46:28
“DSME is a big chance”
“I bet my bottom dollar on DSME acquisition and I believe it is the chance of my lifetime,” Hanwha business group Chairman and CEO, Seung-Youn Kim disclosed his mind. He said Hanwha has tided over a crucial moment by signing the MoU November 14 ...
2008-11-19 06:52:54
C&Group sells listed C&,,
C&Group aduously is now seeking liquidity securement. C& Group confirmed recently, “C&Group’s core business, C&Woobang in construction business and C&Woobang Land in leisure business will be sold in public.” C&Woobang and C&Woobang Land plan to...
2008-11-18 11:03:59
Jurong Shipyard wins its day in court
Singapore: Sembcorp Marine reports that the Court of Appeal has dismissed BNP Paribas’ appeal against the decision of the High Court which prevented the French bank from filing a winding up application against its subsidiary Jurong Shipyard. BNP ...
2008-11-17 10:02:47
The 2nd Ann Korea Ship Finance Forum was held
November 13, Korea Shipowners’ Association said that the 2nd Annual Korea Ship Finance Forum will be held in Grand Hyatt Seoul on November 18，which experts including shipowners, lawyers, ship brokers, consultants, officials at Korean and overseas...
2008-11-17 08:49:39
DSME turned into the red in Q3
Daewoo Shipbuilding & Marine Engineering (DSME) posted its Q3 earnings on November 14. It reported 2.6572 trillion won ($1.9 billion) of revenues and 107 billion won ($76.5 million) of operating profits but the company’s Q3 net profits reached minu...
2008-11-17 06:13:34
Poland to sell shipyards by May 2009
The Polish government, which has been continuing talks with the European Commission (EC) over shipbuilding subsidies, has decided, at the request from EC, to sell state-run Gdynia Shipyard and Szczecinska Shipyard to private sector by May 2009. Since...
2008-11-14 16:05:45
Hanwha sets to DSME acqusition
Hanwha Group has signed MoU with Korea Development Bank (KDB) today concerning the acquisition (sale) of Daewoo Shipbuilding & Marine Engineering (DSME). It will start actual inspection of DSME early next week from November 17 for three to four we...
2008-11-14 13:53:54
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