The value of the UK Maritime Sector has been reemphasised in a new report launched by Maritime UK for London International Shipping Week.

China Shipbuilding Industry Corp (CSIC) is making a move to increase its stake in its two shipbuilding subsidiaries by buying their equity interests currently in the hands of other state-owned enterprises (SOEs).

A subsidiary of China Merchants Port Holdings Company (CMPH) has entered into an agreement to buy a majority stake in Zhongshan Port & Shipping Enterprise Group.

Cosco Shipping Development Co’s (CSDC) vessel owning subsidiary Oriental Fleet LNG 01 Limited has secured $112m of loans from Bank of Communications Hong Kong Branch (BoCom HK).

Embattled OSV builder Nam Cheong has urged noteholders to support the company’s financial restructuring involving approximately $220m of unsecured debts.

Pacific Radiance, owner and operator of OSVs, has commenced discussions with its bank lenders to restructure its debts.

Braemar Shipping Services is moving into finance with maritime advisory the acquisition of NAVES Corporate Finance.

Engineering and fabrication shipyard Triyards Holdings has voluntarily suspended its shares trading on the Singapore Exchange (SGX) as the company revealed deeper financial troubles and is seeking to restructure its debts.

Yang Ming Marine Transport Corp is seeking to raise up to TWD5bn ($170m) through a 500m shares issuance programme.

Baker Technology’s subsidiary and Point Hope have emerged as the ‘white knight’ investors for beleaguered EMAS Offshore Limited (EOL), which will receive a $50m investment from the investors.

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