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Marine Freight & Logistics

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Swissco updates on meeting with holders of S$100 mln notes due 2018

Tuesday, 11 Oct 2016 08:55pm EDT

Swissco Holdings Limited : Update On Informal Meeting With Holders Of S$100 mln 5.7% Notes Due 2018 . noteholders informed that company will not be able to pay interest due under terms and conditions of notes on next interest payment date . Announce a suspension in trading of shares of company with effect from today, 12 october 2016 . expects to be able to fund its current operations from its cash, revenue from existing businesses and possible asset disposals .At same time, company and Ernst & Young are actively working on a debt restructuring plan.

A.P. Moller-Maersk says to split into two companies

Wednesday, 21 Sep 2016 11:58pm EDT

A.P. Moller-Maersk : Reorganising A.P. Moller-Maersk into two separate divisions; Transport & Logistics and Energy . Says Oil and oil related businesses, either individually or in combination, to be separated from A.P. Moller-Maersk . Progress update on strategic review and change of management . Says Transport & Logistics will consist of Maersk Line, APM Terminals, Damco, Svitzer and Maersk Container Industry based on a one company structure with multiple brands . Says Energy will consist of Maersk Oil, Maersk Drilling, Mersk Supply Service and Maersk Tankers . Soren Skou will continue as group CEO of A.P. Moller-Maersk . Says main growth focus of A.P. Moller-Maersk going forward will be delivering best in class transportation and logistics services as an integrated Transport & Logistics company . Says Maersk Line will grow market share organically and through acquisitions . Maersk Oil will mature existing key development projects, while keeping exploration activities and expenses at a low level . Says Jakob Stausholm will be appointed group CFO of A.P. Moller-Maersk as of 1 December . Says Kim Fejfer will step down as member of registered management effective on 1 October and as CEO of APM Terminals effective on 1 November.

Vallianz Holdings updates on internal group restructuring

Monday, 11 Jul 2016 06:55am EDT

Vallianz Holdings Ltd : Has transferred its entire equity interest in the capital of the certain entities to Vallianz International Pte. Ltd. . Says transfers are not expected to have any material financial impact on EPS of group for current financial year ending 31 December 2016 .

Marenave Schiffahrts: extension of the reduced repayment rates

Friday, 1 Jul 2016 07:10am EDT

Marenave Schiffahrts AG : Extension of the reduced repayment rates . Quarterly minimum repayment amount per single ship company shall amount to at least USD 100,000 .Bank consortium has agreed to only seriously demand payment from single ship companies.

Kuehne und Nagel International focuses management structure in Europe

Thursday, 16 Jun 2016 11:36am EDT

Kuehne Und Nagel International AG :Will establish two organisational units Central / Eastern Europe and Western Europe as of Oct. 1.

DryShips says doubts ability to continue as a going concern for a reasonable period of time

Monday, 6 Jun 2016 04:58pm EDT

DryShips Inc : As of March 31, co in breach of some financial covenants, while 3 bank facilities matured, co hasnt made final balloon installments . Three lenders have declared an event of default - SEC filing . For some bank facilities, the company has elected to suspend principal repayments and interest payments . Cash expected to be generated from operations or proceeds from the sale of vessels will not be sufficient to cover co's working capital deficit . Present conditions, events raise substantial doubt about the company's ability to continue as a going concern, for a reasonable period of time .Present conditions, events raise substantial doubt about the company's ability to continue as a going concern, for a reasonable period of time.

China COSCO Holdings updates regarding restructuring of its controlling shareholder<1919.HK><601919.SS>

Monday, 30 May 2016 09:47am EDT

China COSCO Holdings Co Ltd <601919.SS>: Further announcement on controlling shareholder restructuring <1919.HK> . "has also been notified that cosco shipping currently does not have any plan to change the principal business of the company" .

Viking Supply Ships closes office in Canada

Wednesday, 20 Apr 2016 08:05am EDT

Viking Supply Ships AB:Says closes office in Canada.Decided to close office in St. John's, Newfoundland with effect as of April 28, 2016.

AP Moeller Maersk says Maersk Oil to axe 100 jobs in Angola and the US

Thursday, 31 Mar 2016 10:05am EDT

AP Moeller Maersk A/S:Says to reduce the Chissonga organisation.Says to close Houston office and reduce the Luanda team, impacting about 100 staff positions in total.Says options for the Chissonga project in Angola include a future project developed jointly with other hydrocarbon discoveries in the same region.Says remains committed to the Chissonga project.

NAIGAI TRANS LINE to merge with unit

Tuesday, 9 Feb 2016 10:00pm EST

NAIGAI TRANS LINE LTD:To merge with its wholly owned Tokyo-based subsidiary with effective on April 1.Says the unit to be dissolved after the transaction.

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