STX to go for recapitalization
STX Offshore & Shipbuilding (STX O&S) announced through a regulatory filing on June 18 that it is issuing new shares through third-party allotment worth KRW77.9bn. The company is issuing 623,223 shares of common shares at KRW125,000 pe...
HMD sells securities firm
Hyundai Mipo Dockyard (HMD) is expected to complete the sale of HI Investment & Securities by September this year. The Korean shipbuilder held a board meeting on June 7, and voted for selling its stakes in HI to DGB Financial Group by Sept...
"Korean yards to be revived"
Industry experts at home and abroad forecast that Korean shipbuilding industry will be revived. Park Hong-Sik, Chief Investment Officer at Macquarie Investment Management Korea, has recently commented, "Both prices of ships and quantities of o...
54 ships called for public aid
The demand survey for aid program in newbuilding and Sale & Lease Back have gathered application for 54 ships. According to Ministry of Oceans and Fisheries (MOF) of Korea, the first survey in line with the government’s 5-year maritime i...
AET raises funds for NB project
AET, an affiliated company of MISC Group of Malaysia, is said to have recently secured revolving credit facility of $575m from a Standard Chartered-led syndicate. The tanker operator which is headquartered in Singapore will spend the money for it...
Korea Yanase in RG talks
Korea Yanase Tongyeong Shipbuilding has recently been in refund guarantee (RG) talks about two small vessels it was awarded. In early May, according to industrial sources, the Korean shipbuilder won one 5,000 cbm sand dredger from Han-A Shippi...
"SHI's liquidity improved hugely"
One Korean industry expert claimed that Samsung Heavy Industries (SHI) is seeing a huge improvement in its liquidity. According to Lee Kyung-Ja, an analyst with Korea Investment & Securities, it seems that SHI's net debt has recently decre...
Rolls-Royce/AXA inventing insurance for autonomous sailing
UK tech outfit Rolls-Royce announced on May 14 that it has signed LOI with French financial firm AXA Corporate Solutions to develop risk management products for autonomous shipping, by combining Rolls-Royce’s Ship Intelligence systems and equip...
HSBC-Cargill complete blockchain transaction
HSBC Holdings, a British-based multinational banking and financial services company, has recently announced that it completes the blockchain-based trade finance transaction for the first time in the world. According to foreign presses an...
RG issued on STX's TK quartet
Korea Development Bank (KDB) reportedly offered refund guarantee (RG) on four MR product carriers (PCs), which are being built by STX Offshore & Shipbuilding (STX O&S), on May 3. The four newbuildings are comprised of two u...
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