Embattled EMAS Offshore Limited (EOL) and two of its wholly-owned subsidiaries have voluntarily filed a restructuring application to the High Court of Singapore, and entered into a binding term sheet with certain potential ‘White Knight’ investors as part of the financial restructuring.
China Merchants Port Holdings has inked a deal to purchase a controlling stake in Brazil’s TCP, marking the Chinese group’s business expansion to the Latin America region.
China’s privately-owned Yangzijiang Shipbuilding is looking to raise SGD209.61m ($154.42m) by way of private placement of 137m ordinary shares to institutional and other investors.
Offshore services provider Marco Polo Marine has provided close to SGD300m ($220m) in impairments and allowances during its third quarter of financial year 2017 on the back of a protracted downturn in the oil and gas sector.
Embattled Nam Cheong has made asset impairments and writedowns of MYR1.88bn ($444m) during the second quarter, sending the OSV builder into a first half loss of MYR2.07bn.
Gulf Navigation Holding (GulfNav) is on course for a major expansion of its business as it reports a 33% jump in first half profits.
Singapore-listed Ezion Holdings has suspended the trading of its shares as it revealed that the company is in talks with various stakeholders for a financial restructuring.
Taiwan’s dry bulk carrier shipowner Wisdom Marine is looking to raise up to TWD320m ($10.8m) via the issuance of new shares for the purpose of financing new ships.
Hyundai Heavy Industries (HHI) has sold its entire stake in Hotel Hyundai for KRW200bn ($180m) to private equity investment firm Hahn & Company as part of the shipbuilder’s management improvement plan implemented since June 2016.