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;

 

Share this article

Follow World Maritime News

Posted on December 14, 2011

In Depth>

Events>

<< May 2016 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

CLIA Cruise360 – A Panoramic View to Cruising

Developed and hosted by Cruise Lines International Association (CLIA), Cruise360 offers a truly panoramic view of the cruise industry…

read more >

Breakbulk Europe 2016

Breakbulk Europe’s targeted programming will ensure that you develop skills and strategy to help you do your job more effectively.

New this year, will be several micro-seminars that will take place in the exhibit hall during the exhibition. And we’ll hold a series of conference sessions, featuring VIP shippers and others, over the course of the two-day exhibition.

Visit the Breakbulk Europe Exhibition, a four-day event being held at the Antwerp Expo in Antwerp, Belgium, to network and connect with over 350 exhibitors and sponsors that provide specialized services. Exhibitors and sponsors include specialized ocean carriers, freight forwarders, ports/ terminals, logistics providers, ground transportation, heavy air, export packers, equipment companies and more.

  • Over 7,200 participants attended Breakbulk Europe 2015
  • Meet with over 350 international exhibitors and sponsors
  • Hear from industry experts during the conference sessions
  • Learn new skills in the educational workshops

More info

read more >

8th Annual: UK Ports Conference 2016

Now in its 8th year, the UK Annual Ports Conference has been expanded for 2016 into a two-day programme, with the option of booking…

read more >

5th Black Sea Ports and Shipping 2016

A two days Conference Programme will feature 30 world-class conference speakers addressing topical issues and challenges covering global…

read more >