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Max Tingyao Lin
Capesizes and very large crude carriers lead the way as investors adopt risk-averse approach
Debt-to-equity swap investors albeit state-backed will need to withdraw properly
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Vessels to be built by Guangzhou Shipyard International
As part of tightening oversight in the aftermath of irregularities at DSME, the government body will also introduce a harsher penalties on the firms that engage in illegal accounting practices
Despite a sharp jump in orders, the total profits of the major yards have slid into negative territory amid huge pressure on costs
Orders so far this year are now valued above $1.5bn for the company, which has been loss-making amid falling revenue.
Government says it may have no choice but to ‘take care’ of the shipbuilder if it does not come up with concrete normalisation plans by April 9
Government sets up a special Won130bn loans fund for businesses and extends expiry dates for existing loans
Local banks in Tongyeong and Jinhae — home cities to SSME and STX O&S — might be affected by the exposure
SSME will file for court receivership while STX O&S will come up with cost-cutting measures in April
Moves to find a replacement for the sole surviving US Coast Guard heavy icebreaker have been made at a glacial pace
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