Bulk Carrier Delivered to Uni-Asia Holdings
Uni-Asia Holdings Limited announced an update on the progress of the vessel acquisition project of Regina Bulkship S.A., a 51% owned subsidiary under Uni-Asia Shipping Limited, a wholly owned subsidiary of the company. Regina Bulkship S.A. has acquired a 37,000 dwt newbuilding handysize bulk carrier pursuant to an agreement with Imabari Shipbuilding Co., Ltd. on March 3, 2014. The vessel was successfully delivered on February 9, 2015 by Imabari Shipbuilding Co., Ltd. and was immediately time chartered out to Pacific Basin. Regina entered into a loan agreement with Mega International Commercial Bank Co., Ltd., Offshore Branch for a term loan facility to be used solely for the purpose of the acquisition of the vessel…
TMT CEO Files $100m IP Suit Over Vessel Sale
Hsin-Chi Su, Chairman and CEO of Today Makes Tomorrow Group (TMT) launched a suit in Texas federal court on July 28, 2014, alleging that a planned bankruptcy sale of three company ships, including M.V.D Whale, M.V.G Whale and M.V.H Whale, to Mega International Commercial Bank Co. Ltd. (Mega Bank) will strip him of intellectual property worth more than $100 million for each ship. According to Ken Liang's deposition at the court, Mega Bank is the agent for vulture fund Oaktree Capital Group. U.S.
