Creditors laid out RG conditions for STX
It is understood that Korea Development Bank (KDB), the main creditor of STX Offshore & Shipbuilding laid out conditions for Refund Guarantee (RG), which include manpower restructuring and wage freeze. According to the industry, KDB demand...
DHIC considering selling Doosan Engine
Doosan Heavy Industries & Construction (DHIC) announced on November 16, "We are considering selling our stakes in Doosan Engine. However, nothing is fixed yet." The Korean conglomerate also commented on September 26 last year, "We do not p...
"Emergency call from STX for RG"
Changwon Chamber of Commerce & Industry announced on 13 that it urgently proposed Refund Guarantee (RG) issuance to the government and Korea Development Bank (KDB) for STX Offshore & Shipbuilding. The Chamber stated that “immediate p...
Vard in front of delisting
FINCANTIERI S.p.A. informs on November 13 that its subsidiary, Fincantieri Oil & Gas S.p.A. ("Fincantieri O&G"), and Vard Holdings Limited ("Vard") have jointly announced that (i) Fincantieri O&G has submitted to Vard a proposal to se...
HMD sells shares in brokerage arm
Hyundai Mipo Dockyard announced on November 9 that the Korean shipbuilder has sold all of its 342.43m shares in HI Investment & Securities, a stock brokerage affiliate of Hyundai Mipo, to DGB Financial Group at KRW 450bn (approximately $403m)...
K-sure to give financial support for LNG projects
In 'Korea Ship Finance Forum 2017', which was held on November 1 at Paradise hotel, Busan Metropolitan City, Korea, the Korea Trade Insurance Corporation (K-sure) announced that it will expand its financial supports for domestic LNG ship exports....
COSCOCS to raise boxship funds
China COSCO Shipping(COSCOCS) has recently announced that the Chinese shipping giant is to raise shipbuilding funds CNY 12.9bn (approximately $1.94bn). On the strength of profits of CNY 2.7bn posted for the first nine opening months of 2017, C...
DSME explains about 'exchange loss' report
The Seoul Economic Daily that reported on October 31, 'The Korea Development Bank (KDB) has made exchange losses of about KRW 300bn (approximately $267.6m) for the last three years after dealing with foreign exchange trades for Daewoo Shipbuildin...
RG deadline for STX extended
It turned out that the deadline for issuing refund guarantee (RG) to STX Offshore & Shipbuilding on MR tanker newbuildings has been extended. According to industrial sources, one STX official said, "On October 31, OceanGold of Greece...
DSME stock trading resumed
Trading of shares in Daewoo Shipbuilding & Marine Engineering on the local stock market is resumed in one year and three months. The Korea Exchange announced on October 26 that it has decided to allow the resumption of trading of Daewoo. ...
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