German ports-to-logistics group Rhenus will acquire a 40% stake in shipbroker and commercial manager Arkon Shipping.
The bidder quoting the lowest fee for the work will be awarded the deal which is expected to be finalised in the next few days.
The port authority (RPA) will also invest, building a new 1,100 m-long quay capable of berthing vessels ranging in size up to VLCCs with a draught of 21 m.
Part of the 6,825 gt vessel, which capsized during a routine Incheon-Jeju Island trip on 16 April 2014, was seen above the water at 03.45 h Seoul time.
Creditors of the cash-strapped Korean shipbuilder DSME are looking to secure another rescue package amid a slowdown in new shipbuilding orders.
South Korea’s Hyundai HI halts another dry dock operation in its main Ulsan shipyard, marking the shipbuilder’s second dock closure after Building Dock 4 was suspended last June in the wake of falling orders.
The agreement, approved at the weekly meeting of the Cabinet, gives CMPort the right to use the multipurpose berth and oil berth already built and undertake expansion in a proposed third phase.
The co-operation between Fuzhou and Malacca is also expected to enhance the strength of the ports in operation and management, logistics, and transportation, technology, and system control, as well as port safety.
Triyards said it has guaranteed up to USD30 million of a USD38.2 million joint bank facility granted to the company and Ezra.
Auditors flag going-concern issues for FSL Trust in relation to its 2016 financial statements as it may be unable to realise its assets and discharge its liabilities in the normal course of business.