South Korea: DNB Approves Debt Facility to Hyundai Merchant Marine for Five New Container Vessels

Hyundai Merchant Marine closed on a $500 million debt facility on Tuesday from a syndicate of financial institutions led by DNB Bank.

In order to fund the construction of five ultra-large container vessels being built at Daewoo Shipbuilding & Marine Engineering and planned to be delivered throughout 2014, HMM will utilize the loan from the Dutch bank.

The mega-ships will be deployed on the Asia-Europe trade route.

There are other financial institutions involved in this transaction such as ABN AMRO, Credit Agricole, Korea Finance Corporation and The Korea Development Bank.

European ship finance banks used to finance 70 percent of new ship orders before many loans were put into default due to the Great Recession. Currently, it is difficult for carriers to hope for a financial support.

Shipbuilding Tribune Staff, December 14, 2011;

 

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Posted on December 14, 2011

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TOC Americas

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers. Over time, TOC has evolved and whilst they continue to deliver the highest quality technical content in line with their heritage, they also recognise that they must now hear from stakeholders higher up the cargo chain. Therefore, there are now two distinct elements to the event:

The exhibition is a showcase for port & terminal technology and operations plus TECH TOC, the free to attend technical conference aimed at terminal operators and their suppliers. Many suppliers come together to showcase cutting edge solutions to their clients, the terminal operators and ports.

More recently, the events now placed a new focus on the container supply chain making them the premier business and networking event for the stakeholders, including shippers, carriers and 3pl’s as well as the global operators and port authorities. This conversation takes place in the more recently created Container Supply Chain Conference.

More info

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BWMTech North America 2016

Key sessions at BWMTech NA 2016:
• A guide to Ballast Water Treatment System Selection.
• Market Modelling: Forecasting the market response to ratification…

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Arctic Shipping Forum North America

The ASF Arctic Shipping North America 2016 Innovation Award will be presented to a company or individual that has developed an innovative idea…

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Singapore International Bunkering 2016

SIBCON 2016 will be about perspectives, conversations, dialogue, and above all networking. With all discussions under Chatham House rules…

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