Industry Sectors:Finance & Insurance

Finance & Insurance

Cosco Shipping Development Co has projected a profit for the financial year ended 31 December 2016, emerging from the loss registered in 2015.
International law firm Hill Dickinson will be able to operate fully in Hong Kong as a single entity after its application was approved by the Law Society of Hong Kong.
Japan’s Orix Corp has confirmed the acquisition of $289m worth of shipping loans from the Royal Bank of Scotland (RBS).
Alternative investment firm Uni-Asia Holdings, which operates dry bulk vessels via shipowning arm Uni-Asia Shipping, has proposed an internal restructure by way of a scheme of arrangement.
Taiwan’s container line Yang Ming Marine Transport Corp unveiled that it has instituted a recapitalisation plan aimed at strengthening its balance sheet and improving liquidity.
COSL Offshore Management, subsidiary of COSL Drilling Europe, has filed a statement of claim to Oslo’s district court against Statoil demanding payment of around $15.24m over an altered drilling contract.
China’s bankrupt Nantong Mingde Heavy Industry has been bought over by conglomerate Xiamen Xiangyu Group Corporation in a RMB576m ($84.2m) deal.
Royal Bank of Scotland (RBS) has reportedly sold $600m worth of shipping loans as it continues moves to exit the sector.
Cosco Shipping Ports has announced a plan to acquire shares in Qingdao Port International Co by way of both equity interest transfer and cash.
Singapore’s ASL Marine has received strong support from nearly all its bondholders over extending the maturity of a series of notes by another three years.