Finance
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...
2019-01-22 15:56:24
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 ...
2019-01-22 15:26:36
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.  ...
2019-01-22 14:49:29
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...
2019-01-22 14:18:22
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).  ...
2019-01-15 15:23:50
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 ...
2019-01-08 14:13:13
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...
2019-01-04 08:26:07
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...
2019-01-02 14:20:00
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...
2018-12-28 14:13:15
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...
2018-12-28 11:48:49
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