The Greek shipowner’s ability to address the ebbs and flows which characterise the shipping industry has served them well in the past and they need to re-commit in order to continue the growth of Greek shipping, says analyst Petrofin Research.
Maritime companies have generally failed to gain respect from investors. With a few exceptions, share prices are below the net asset values - a proxy for the liquidation value if a company could be broken up, assets sold, and debt paid off.
Navig8 Chemical Tankers Inc. has entered into a sale and leaseback agreement with China’s ICBC Financial Leasing for four 37,000-dwt product tankers.
Hyundai Heavy Industries (HHI) signed a definitive agreement last Friday to acquire Daewoo Shipbuilding & Marine Engineering (DSME), supported by DSME’s main creditor Korea Development Bank (KDB).
Royal Boskalis Westminster N.V. (Boskalis) and its co-shareholder Kotug International B.V. (Kotug), have signed a letter of intent (LOI) to sell Kotug Smit Towage to Boluda Group.
Dalian Shipbuilding Industry Offshore (DSIC Offshore), a subsidiary of Dalian Shipbuilding Industry Co., Ltd (DSIC), had been requested by Dalian Municipal Intermediate People's Court to restructure due to debt issues with Dalian Shenghua Ship Engineering Company.