China State Bank Gives Shipbuilder US$6.5-Billion Credit Boost

MarineLink.com
Friday, July 19, 2013

CSSC and China Development Bank (CDB) have signed an additional agreement of financial cooperation in Beijing.

According to the agreement, CDB will put its advantages of investment, financing, bond, leasing and stock into full play, and provide CSSC with finance of 80 billion Yuan RMB in total in various ways.

Previously China State Shipbuilding Corp. had obtained Yuan RMB 260-Billion to help see it through the shipping industry's economic downturn.

The official release adds that the credit facility is: "... in order to support CSSC's full transformation development and building an industry-finance integration innovative enterprise with strongest shipbuilding capability, high integration of military & civilian, moderately diversified development and strong international competitiveness.[sic]

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Aker Evaluating Future of US Shipyard, ASC

Norway's Aker ASA may decide to merge or otherwise restructure two listed units that have seen strong benefits from the U.S. shale oil energy boom, Aker's Converto

MAN Propulsion Packages for New Icelandic Trawlers

MAN Diesel and Turbo inform that Icelandic owners, HB Grandi, Vinnslustodin hf. and Hradfrystihusid Gunnvör, have ordered newbuildings based on two different ship

Crowley Receives Heavy-Lift Deck Barge in Singapore

Crowley Maritime Corporation’s solutions group announced today that it has received the first two of potentially four, new heavy-lift, ballastable deck barges (HDBs)

Finance

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

Aker Evaluating Future of US Shipyard, ASC

Norway's Aker ASA may decide to merge or otherwise restructure two listed units that have seen strong benefits from the U.S. shale oil energy boom, Aker's Converto

300th Tug Brokered by Marcon Int'l

Marcon International, Inc. of Coupeville, Washington reported the sale of the U.S. flag, twin screw tug “Pacific Patriot” (ex-Pacific King) from Kirby Marine Offshore to U.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1102 sec (9 req/sec)