Finance
Experts fear negative impact of nationalisation
Experts fear that the nationalisation of shipping banks and government help for others may have a negative effect on global lending volumes. Because of the severe losses banks suffered during the financial crisis, some are now already partly owned...
2009-02-27 07:42:06
STX mulls plans to relist STX Europe
STX Group is mulling plans to relist STX Europe, created after it bought Norway’s Aker Yards, just weeks after the company was delisted from the Oslo bourse. The proposal was confirmed by STX Group vice chairman Lee Jong-chul during a press bri...
2009-02-27 07:35:30
C& Heavy sale open
Lazard Asia Limited and Mirae Asset Securities, the consultative firms for the sale of C& Heavy Industries, announced on February 25th that they started to receive letter of intent (LOI) for the acquisition of the shipyard from home and abroad. Early...
2009-02-27 06:52:41
Hamburg agrees HSH Nordbank restructuring plan
The German state governments of Hamburg and Schleswig-Holstein have agreed to the restructuring plan for HSH Nordbank, the world’ s largest shipping bank. Both states hold stakes in the bank, as well as the US-Investors JC Flowers and regional ...
2009-02-26 08:31:36
Won woe to hit shipowners’ efforts
Shipyards cannot afford to accept cancellations or delays as they desperately need the dollars. Shipowners' efforts to secure the cancellation of billions of dollars of newbuilding contracts placed with South Korean shipbuilders are being hampered...
2009-02-26 08:23:45
Payment delays hit Cosco
Cosco Corp’s annual profits dropped 10% after it made a S$61m ($40m) provision following requests for shipbuilding payment delays by several shipowners. “In light of the adverse global economic climate, the group made provisions for impairment...
2009-02-25 10:02:21
Workers turn to prayer to save Polish shipyard 


The shipyard is likely to face massive layoffs in the midst of the global economic crisis. Workers at Poland's Gdynia shipyard -- deep in debt and earmarked for privatisation -- are literally praying for divine intervention to save their jobs. ...
2009-02-25 09:50:30
Hamburg agrees HSH restructuring plan
The German state governments of Hamburg and Schleswig-Holstein have agreed to the restructuring plan for HSH Nordbank, the world’s largest shipping bank. Both states hold stakes in the bank, as well as the US-Investors JC Flowers and regional s...
2009-02-25 07:37:30
Indian set subsidy of Rs 5,000cr
The shipping ministry is expected to approach the cabinet soon seeking approval for the pending subsidy. Bangalore: The shipping and finance ministries are set to resolve a 17-month-old dispute over subsidizing shipbuilders on confirmed orders tha...
2009-02-24 08:55:06
Samsung slumps in face of delivery delays
The share price of Samsung Heavy Industries slumped 10.2% on Friday as news leaked into the market that a major customer will seek delays to the delivery of its vessels. Israel’s Zim Integrated Shipping Services will visit SHI’s offices week c...
2009-02-23 07:32:28
Start  Prev  511  512  513  514  515  516  517  518  519  520  Next  End