Industry Sectors:Finance & Insurance

Finance & Insurance

The credit exposure for South Korean banks to the country’s big three shipbuilders has been trimmed by KRW5.36trn ($4.67bn) in 2016 compared to the previous year due to restructuring efforts…
EMAS Offshore Limited has updated investors that the company and all its lenders are continuing to negotiate and finalise agreements on refinancing of financial obligations.
China Cosco Shipping Corporation Limited (Cosco Shipping) has set up a new insurance unit named Cosco Shipping Captive Insurance Co in Shanghai.
Gulf Navigation has ended its dispute and settled with DVB Bank SE, BNP Paribas, and DNB Bank relating to a case in 2014 when two VLCCs financed by the lenders…
Hanjin Shipping has been officially declared bankrupt, closing the book on the world’s seventh largest container shipping line.
China Cosco Shipping Corporation Limited (Cosco Shipping) has set up a logistics investment fund, backed by the provincial government, to raise around RMB6bn ($874.2m) for investments in areas including cold…
There were few Valentine’s Day surprises for the freight market this week, as the market has reverted to its seasonal mode of slowing seaborne trade.
Rickmers Maritime auditors warn of another $360m of impairments against the value of its fleet if it liquidates as the Singapore shipping trust fights for survival.
Malaysian domestic line PDZ Holdings has revealed that it owes approximately $851,971.79 in bunker bills to fuel suppliers related to its feeder boxship PDZ Mewah, which has been impounded last…
MISC unit Gumusut-Kakap (L) Ltd (GKL) has won its claim for increased day rates against Sabah Shell Petroleum Company Ltd.and has been awarded $254.4m by the Kuala Lumpur Regional Centre…