HHIC made a settlement with Philippines banks
Hanjin Heavy Industries and Construction (HHIC) has made a settlement with banks in the Philippines in regard to its debts. HHIC announced that the company and creditor banks of HHIC-Phil have made a settlement on February 14 at Manila, Philip...
Trading HHIC stocks suspended
Hanjin Heavy Industries and Construction (HHIC) has been capital impaired against a backdrop of its overseas subsidiary HHIC-Phil (Subic Shipyard) becoming insolvent. Through a regulatory filing on February 13, the Korean conglomerate re...
JES International files for court receivership
Chinese shipbuilder JES International Holdings is said to have filed for a court receivership to the High Court of Singapore on February 11. The seven shipbuilding arms of the company were ordered to cease their operation by a Chin...
MOF granting aids for scrubber installation
The Ministry of Oceans and Fisheries (MOF) of Korea is to support Korean operators to equip environmental equipment. MOF announced on February 12 that its 2019 equipment installation aid program attracted applications for 171 ships. 111 shi...
Bestway under debt pressure
Shanghai Bestway Marine Engineering Design turns out to have suffered from continuing financial difficulties amid a series of legal issues. The Chinese shipbuilding and ship design company recently said through a regulatory filing that Guotai ...
KOBC picked bidder for 1st round of S&LB aid
Korea Ocean Business Corporation announced that it had selected preferred bidders for the first round of 2019’s S&LB (Sale and Lease Back) support program. The company has received applications from December 18, 2018, to January 4 for th...
SHI pays contribution for equipment providers
Samsung Heavy Industries (SHI) announced through a regulatory filing on January 25 that it will contribute KRW 1.67bn (about $1.5m) for shipbuilding equipment providers in financial difficulty. The Korean shipbuilding heavyweight noted, "The c...
EIB supports Ireland ferry NBs
Announcement made as the W.B. Yeats cruise ferry made its maiden commercial voyage from Dublin to Holyhead this morning New ICG cruise ferries, W.B. Yeats and a second new cruise ferry currently under construction will significantly increase c...
SHI suffered $365m loss in 2018
Samsung Heavy Industries (SHI) announced its 2018 business results on January 25 through a regulatory filing, revealing KRW 5.2651trn of revenue and KRW 409.3bn (about $365m) of operating loss. The Korean shipbuilding heavyweight's 2...
Top Ships announces financing for HMD tanker
TOP Ships Inc. (the “Company”), an international owner and operator of modern, fuel efficient “ECO” tanker vessels currently focusing on the transportation of crude oil and petroleum products, announced that it has concluded Financing Agr...
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