Finance

  • $2b oil and gas hub plan up in smoke as land sale...

    A controversial deal for the $100 million-plus sale of a 407 hectare parcel of land to a consortium whose shareholders include former Santos chairman Stephen Gerlach, has collapsed after its would-be buyers missed a payment deadline.

  • Ukraine open concession tender of strategic ports

    Ukrainian government will open concession tender of country’s strategic ports in the beginning of 2017. The local authorities will list the Port of Oktyabrsk and Kherson Marine Trade Port for private investors, trying to replenish the budget and start massive privatization program in maritime sector.

  • Olympic Shipping to Get Finance

    The struggling Norwegian supply vessel shipping firm Olympic Shipping said a consortium of investors is willing to invest about 500 million Norwegian crowns ($61.79 million) in a refinancing of the company, reports Reuters.

  • Five star venue confirmed for The Maritime...

    The second annual The Maritime Standard Ship Finance and Trade Conference will take place in Abu Dhabi on November 14th. An exciting new venue has been confirmed with the event now being hosted at the five star Sheraton Abu Dhabi Hotel & Resort, offering delegates and guests plenty of networking opportunities with leading players in the market.
     

  • ASL Marine delays AGM as it seeks funding

    Singapore offshore shipbuilder and vessel owner ASL Marine Holdings has applied to the Singapore Exchange for a one month extension to both hold its AGM and release its latest set of quarterly results.

  • Shippers advised to closely monitor alliance...

    It is not only shippers that need to pay attention to the financial state of carriers they contract with after the mess Hanjin Shipping left behind — container lines will also need to be sure of the financial health of their alliance partners.

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Global Energy vessel purchase just about complete

Global Energy Development announced on Monday that, further to its announcement on 16 January, the foreclosure process associated with the Transaction B Assets was now complete and the assets had been transferred to Maritime Finance.

English

Cosco Shipping lost 1.44 billion USD in 2016

The net loss of Cosco Shipping Holdings in 2016 amounted to 9.9 billion CNY (1.44 billion USD), according to preliminary assessment and non-audited finance statement. The Chinese largest shipping company explains the loss with the low growth in demand for container shipping in the world market, as well as the continuing oversupply of tonnage. Cosco Shipping Holdings noted that the industry’s efforts to balance supply and demand were proved as unsuccessful. As a result the weak market throughput and low growth of container traffic lagged behind the pace of traffic growth and costs. This continue to affect the finance statements and hurt the liquidity of the container shipping companies.

English

Cosco Shipping lost 1.44 billion USD in 2016

The net loss of Cosco Shipping Holdings in 2016 amounted to 9.9 billion CNY (1.44 billion USD), according to preliminary assessment and non-audited finance statement. The Chinese largest shipping company explains the loss with the low growth in demand for container shipping in the world market, as well as the continuing oversupply of tonnage. Cosco Shipping Holdings noted that the industry’s efforts to balance supply and demand were proved as unsuccessful. As a result the weak market throughput and low growth of container traffic lagged behind the pace of traffic growth and costs. This continue to affect the finance statements and hurt the liquidity of the container shipping companies.

English

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