Korea Mulls Shipbuilding Finance Back-up Plan

MarineLink.com
Thursday, September 12, 2013

South Korea is considering whether to set up state-sponsored guarantee funds for the faltering shipping industry as part of the government's efforts to help ship owners raise funds, reports Xinhua, citing a senior South Korean regulatory official

An official at the Financial Services Commission (FSC), South Korea's financial regulator, is quoted by Xinhua as stating that the government plans to order a feasibility study by research institutes on the feasibility of setting up a shipping guarantee fund, with the report due for consideration in the first half of next year.

Similar types of funds for shippers have already been established in some European countries such as Germany and Denmark, the official indicated, noting that the funds would serve as a guarantor for loans to shipping companies.

Source: Xinhua
 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Zvezda Shipyard Comes Up Despite Western Sanctions

German and Finnish partners continue to build Russia’s Far Eastern “Zvezda” shipyard for Arctic oil exploration ships, in spite of Western sanctions, reports Sputnik.

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

Ferus Smit to Launch Newbuild Bulker

Ferus Smit will launch newbuild bulk carrier Arklow Breeze on Friday, March 20 at Westerbroek.   Arklow Breeze is the sixth and last vessel of a series to be

Finance

Indian Ports to Set Sail on Corporatization

Indian Finance Minister Arun Jaitley said in Union Budget 2015 that government-run ports in India will be encouraged to corporatize and become companies under the Companies Act.

Zvezda Shipyard Comes Up Despite Western Sanctions

German and Finnish partners continue to build Russia’s Far Eastern “Zvezda” shipyard for Arctic oil exploration ships, in spite of Western sanctions, reports Sputnik.

ADB Okays $30mln for Pak LNG Terminal

The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s

Government Update

Indian Ports to Set Sail on Corporatization

Indian Finance Minister Arun Jaitley said in Union Budget 2015 that government-run ports in India will be encouraged to corporatize and become companies under the Companies Act.

Crimea Nationalizes Cargo Port in Kerch

The Crimean State Council nationalized the Kerch-based cargo port Kamysh-Burun belonging to the Ukrainian financial-industrial group Altcom.   According to Crimean Parliament,

LA, Long Beach Ports Cooperation Approved

Federal regulators approve expanded working pact for Port of Long Beach and Port of Los Angeles to cooperate on congestion relief   The ports of Long Beach and

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
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: 0.1023 sec (10 req/sec)