Korean government to support RG for small shipyards
The Korean government will support about 30 small-sized shipbuilders with special refund guarantee (RG) program worth KRW100bn until 2020, utilizing public financial institutes and national finance. Ministries concerned including Financi...
"Shipbuilding·shipping still on high bad loans"
In the second quarter of this year, the ratio of bad loans in Korean banks stood at 1.25%, the lowest since late 2012 (1.33%). It was attributable to the fact that the restructuring of shipbuilding and shipping industry has been completed, and ba...
Total acquires Maersk Oil at $7.45bn
French energy giant Total acquires 100% shares in Maersk Oil & Gas. On August 21 (local time), Total announced that the boards of directors of both companies approved this acquisition, and the deal will be made through a stock and de...
“STX O&S needs to improve cost competitiveness"
Although STX Offshore & Shipbuilding recently graduated from the rehabilitation proceedings earlier than expected, it is having difficulty receiving RG. According to industry sources, creditors say that the shipbuilder might be unable to r...
SHI figures lowered for Q3 forecast
A shipbuilding analyst speculated that Samsung Heavy Industries (SHI) would face lower performance with reduced order book. “Revenue is getting fixed and reduction of orderbook is at a fast pace. SHI has $21bn of backlog at the end of ...
Ulsan expands scope of special shipbuilding guarantees
The Ulsan Credit Guarantee Foundation of Korea announced on August 20 that it will expand the scope of its special guarantees for restructuring process in local shipbuilding business. After discussion with the Ministry of Small and Medium Ente...
“New orders are still needed for DSME”
Management normalization committee at Daewoo Shipbuilding & Marine Engineering (DSME) mentioned that even with a huge improvement in H1 performance, it is still hard to be optimistic for early normalization. The committee held the th...
HHI plans to issue private placement bonds
Hyundai Heavy Industries (HHI) is planning its second issue of corporate bond in this year. According to finance market sources, HHI is currently in talks with investors to issue KRW100-200bn corporate bonds. The bonds are expec...
Transocean to take over Songa Offshore
It turned out that Transocean Ltd. ("Transocean" or the “Company”) (NYSE:RIG) has reached an agreement with Songa Offshore SE (“Songa Offshore”) whereby it will, subject to certain conditions, make a Voluntary Exchange Offer (the “Offer...
HHLA posts significant y-o-y growth
Hamburger Hafen und Logistik AG (HHLA) recorded significant year-on-year growth in its key performance indicators in the first half of 2017. Group revenue rose by almost 9 percent to € 622.8 million. While the Group’s operating result (EBIT) ...
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