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Hanjin Shipping Sells Part Of Container Ship Business For $31 Million

South Korea's Hanjin Shipping Co Ltd said on Tuesday it decided to sell part of its container ship business to Korea Line Corp for 37 billion Korean won ($31.38 million). Korea Line will buy Hanjin's Pacific routes shipping business, relevant c ...

Daily Headline - global.abi.org - 11/21/2016 - 21:00 - 0 comments

Korea Line Outbids Hyundai Merchant Marine for Hanjin Shipping Assets

Shipping operator Korea Line Corp. won a contest for some assets of bankrupt Hanjin Shipping Co., whose collapse in late August stranded billions of dollars in cargo at sea, disrupting supply chains world-wide, The Wall Street Journal reported. In a ...

Daily Headline - global.abi.org - 11/14/2016 - 21:02 - 0 comments

STX Offshore Debt Restructuring Approved

South Korean shipbuilder STX Offshore and Shipbuilding has had its debt restructuring plan approved by its creditors, allowing it to continue operating, IHS Jane’s reported. The company, which owns a major commercial and naval shipyard in Saint-Nazaire i ...

Daily Headline - global.abi.org - 11/13/2016 - 15:49 - 0 comments

South Korea Says 94 Out Of 97 Hanjin Shipping Container Ships Completed Unloading

South Korea said on Tuesday that 94 out of 97 Hanjin Shipping Co Ltd's container ships have completed unloading as of Nov. 7, Reuters reported. Of the remaining 3 ships, two ships will be unloaded as soon as possible while relevant authorities are i ...

Daily Headline - global.abi.org - 11/07/2016 - 22:20 - 0 comments

Four Parties Enter Bids For STX Offshore, STX France Sale

Four parties have expressed interest in buying one or both of South Korea's STX Offshore & Shipbuilding Co Ltd and a controlling stake in STX France SA, a spokesman for the Seoul court overseeing STX Offshore's receivership said on Friday. ...

Daily Headline - global.abi.org - 11/06/2016 - 21:33 - 0 comments

Germany's HSH Nordbank Seals Charter Of Hanjin Ships To Maersk

Germany's HSH Nordbank has arranged a deal which will see six container ships from collapsed South Korean line Hanjin chartered out to Denmark's AP Moller Maersk, the state-backed lender said on Thursday, Reuters reported. This is one of the fi ...

Daily Headline - global.abi.org - 10/27/2016 - 20:07 - 0 comments

IMF Estimates Restructuring Cost At W31 Trillion

The cost to restructure debt laden shipping and shipbuilding industries here will be as much as 31 trillion won ($27 billion), according to the International Monetary Fund (IMF), The Korea Times reported. In a report, "Benefits and Costs of Corp ...

Daily Headline - global.abi.org - 10/23/2016 - 20:20 - 0 comments

Hanjin Shipping Picks Advisor To Sell Long Beach Terminal Stake

Hanjin Shipping Co Ltd chose an advisor to seek a potential sale of its stake in Long Beach Terminal, a spokeswoman said on Friday. Hanjin Shipping chose the advisor with the approval of the Seoul court overseeing the shipper's receivership, the spo ...

Daily Headline - global.abi.org - 10/20/2016 - 20:05 - 0 comments

South Korean Court To Allow STX France To Be Sold Separately

A South Korean court has decided to allow two units of the collapsed STX shipbuilding group to be sold either separately or together, according to a sales notice seen by Reuters on Tuesday, opening the prospect of a separate sale of STX France. The Frenc ...

Daily Headline - global.abi.org - 10/18/2016 - 18:44 - 0 comments

Hanjin Insurance Pay Out Could Hit $1.8 Billion: Credit Suisse

Credit Suisse analysts are warning the insurance fallout from the demise of Hanjin Shipping could be one of the largest combined maritime claims in history. The final bill could be as high as $1.8bn, with half of it in marine insurance, the investment ba ...

Daily Headline - global.abi.org - 10/17/2016 - 21:00 - 0 comments

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