World Bank Group Announcements at One Planet Summit
World Bank Group announced on December 12 that at the One Planet Summit convened by President Emmanuel Macron of France, United Nations Secretary General Antonio Guterres, and World Bank Group President Jim Yong Kim, the World Bank Group made a n...
HHIC helps HHIC-Phil
Hanjin Heavy Industries & Construction (HHIC) announced on December 11 that the Korean shipbuilder decided to provide a guarantee over a debt worth around KRW 317.086bn (around $290.61m) to its overseas affiliate HHIC-Phil. The amoun...
Teekay secured long-term financing for Yamal carriers
Teekay LNG Partners announced on December 11 that it secured an $816m long-term debt facility to finance all six of the Company’s 50% owned ARC7 LNG carrier newbuildings. scheduled to deliver in January 2018, and the remaining vessels throug...
EIB-Wärtsilä sign EUR125m R&D loan
The European Investment Bank (EIB) and Wärtsilä, a leading Finnish producer of engines for marine and power plant applications, announced on December 4 that they have signed a EUR 125m loan agreement to support the research and development of m...
Daesun seeking strategic investor
KEXIM (The Export-Import Bank of Korea) is seeking strategic investors among domestic shipping companies for Daesun Shipbuilding & Engineering. According to industry sources, KEXIM is planning to open a prospectus early this month for do...
Ocean Yield announces investment in three suezmax tankers
Ocean Yield ASA recently announced that the Company has agreed to acquire three suezmax crude tankers with 10-year bareboat charters to Nordic American Tankers Limited ("NAT"). The net purchase price is USD 43.2 million per vessel after seller's ...
HHIC sells its own land and building
Hanjin Heavy Industries and Construction (HHIC) announced on November 30 that it sold its own land and building worth KRW 136.9bn (approximately $126m) in Wonchang-dong, Seo-gu, Incheon, Korea, to 52 companies including SG CERA, a Korean bathroom...
Gazprom receives massive credit
Gazprom announced on November 28 that Gazprom, Japan's Mizuho Bank, Ltd. (Mizuho) and Sumitomo Mitsui Banking Corporation (SMBC), and U.S.-based JPMorgan Chase Bank, N.A. (J.P. Morgan) signed a five-year EUR 1 billion Facility Agreement in Tokyo ...
Norges Bank recommends against oil stocks
In a letter to Ministry of Finance on November 16, Norges Bank recommends the removal of oil and gas stocks from the GPFG's benchmark index. In the Bank's view, this will make the government's wealth less vulnerable to a permanent drop in oil and...
Liquidation looming for Sungdong
A recent calculation reported that Sungdong Shipbuilding & Marine is more valuable when it is liquidated. This is the first time a research claims that liquidation is economically more valid then the yard’s continued operation. Accord...
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