Reshuffle expected in China's state businesses
The Chinese government is to carry out a large-scale reshuffle program including merger, strategic alliance and spin-off towards its compatriot state-owned companies. The State-owned Assets Supervision and Administration Commission of the Stat...
Lamprell sees $71m loss last year
Before releasing its 2018 business results on March 21, Lamprell, a manufacturer of onshore and offshore drilling production facilities, has recently announced that the company of the United Arab Emirates (UAE) is expected to post about $235m of ...
China CSSC likely to turn to black
China CSSC Holdings, a listed arm of China State Shipbuilding Corporation (CSSC), is likely to see a net profit of CNY $435m-525m level (preliminary figures) for 2018, after posting net losses of CNY 2.6bn in 2016 and CNY 2.3bn in 2017. ...
NES files for bankruptcy again
After going bankrupt last August and being acquired by Rissa-based shipbuilder Fosen Yard, Nordseewerke Emden Shipyard (NES) filed for bankruptcy again. This is already fourth bankruptcy for the German shipbuilder over the past six years. &n...
HHIC Subic Yard placed on receivership
Hanjin Heavy Industries and Construction (HHIC) announced through a regulatory filing on January 15 that its overseas subsidiary HHIC-Phil (Subic Shipyard) has been placed on receivership by the Olongapo City Regional Trial Court (RTC). ...
STX Heavy Industries decides spin-off
STX Heavy Industries announced on January 7 that the Korean company establishes a new spin-off company through the physical division of debtor company's assets, which are to be sold. The new company's name is STX recovery. STX ...
KEXIM provided Korean operators with 800bn finances
Among operators which received financial supports from the Export-Import Bank of Korea (KEXIM) last 2018, it turned out that the number of Korean ones surpassed that of non-Korean ones (for export). According to the Korea Shipowners' Ass...
Sale of Huarong's asset delayed
China Huarong Energy announced on December 26, 2018, that the sale of its shipbuilding business asset has been delayed. The Hong Kong-listed company made an agreement with investment holding company Unique Orient for the disposal of its ship...
MacGregor got Korean clearance for TTS acquisition
MacGregor, part of Cargotec, has received a clearance decision from the South Korean Fair Trade Commission on the company's acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018. MacG...
NYK secured Green Loan for methanol-fueled TK
NYK will receive 2 billion yen from Taiyo Life Insurance Company as a green loan to exclusively finance the building of NYK’s first methanol-fueled chemical tanker. A green loan is a loan whose proceeds are used solely for the purpose of fundin...
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