Seoul Central District Court has invited potential bidders to take on Goseong Offshore & Engineering, a subsidiary of STX O&S, as part of its rehabilitation plan to save the yard from liquidation.
A proposal by President Donald Trump to slash the US Coast Guard's budget to pay for a Mexican border wall produced swift outcry from both sides of the Congressional aisle.
The impairment charge related to the downturn in the offshore sector. The company saw further declines in revenue having enjoyed two years of growth.
Initiated in 2007 and supposed to have come on stream in April 2011, the terminal has been built under a USD1.4 billion joint venture between Karachi Port Trust (KPT) and Hutchinson Port Holdings’s subsidiary South Asia Pakistan Terminals (SAPT).
The company continues to battle with difficult conditions in the offshore marine services market. The deal is aimed at at preserving and strengthening its cash flow.
The new port will have better access, deeper water, and greater capacity than the current city-centre facilities it will replace.
The vessel will be chartered back to Golar LNG for 10 years, who will pay USD75 million for the bareboat charter.
Sonangol is developing a new business model to monetise two drilling rigs built by DSME, which will soon to enter service.
The Maritime and Port Authority of Singapore is spearheading initiatives that will help the local maritime industry innovate and grow through the use of technology.
The Export-Import Bank of Korea has stressed that it will continue to support the country's troubled shipbuilding sector amid the weak global economy.