Shipping & Marine
Daily Briefing: Otto Marine’s Australian units face court action; Ezra rebound seen as fleeting
Daily Briefing: Otto Marine’s Australian units face court action; Ezra rebound seen as fleeting
And foreign factors benefit luxury home market in Singapore.
Pan-United Corp suffers $2.2m loss in shipping business
Its construction business is also going through challenging times.
Otto Marine to wind up two Australian subsidiaries
It will generate approximately $840,000.
Marco Polo rebuffs media reports on continuing as going concern
A statement on customary risk factors was misrepresented.
Cash crunch forces Marco Polo to flag doubt on continuing as a going concern
It sought approval to defer redeeming $50m in bonds.
Vard Holdings wins shipbuilding contract with US Coast Guard
It is a design for offshore patrol cutter vessels.
Rickmers seeks restructuring to relieve debt woes
It wouldn't be able to repay $245.2m of senior secured bank debt due March 2017.
Samudera Shipping reveals up to $4.1m slot exchange deals with bankrupt Hanjin Shipping
The group seeks replacement cargo on affected sectors.
Marco Polo Marine mulls over delaying payment on bonds in Singapore
Noteholders are ready to back the group’s decision.
Pacific Radiance settles contract dispute with two shipyards
It will receive a refund of up to $14.4m.
Why Yangzijiang is hurriedly junking stakes in associate firms
Its scrapping saga also led to giving up on rig building.
Rickmers Maritime receives $350.6 debt refinancing offer
Sinking industry slashed the company’s debt capacity.
AVIC International Maritime bags $4.5m vessel design job
Construction will commence in spring 2017.
Yangzijiang sells its 20% stake in associate firm for $6m
Will there be a significant impact on its earnings?
Neptune Orient Lines to be officially delisted as CMA CGM completes acquisition exercise
The firm will be delisted on 6 September.
Grand Banks Yachts floats back to black with $7,000 profit
This is thanks to improving yacht sales and orders.
ASL Marine sinks into the red with $6.7m losses
The engineering business was plummeting.
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