Korea Development Bank, DSME’s largest shareholder and main creditor, and the Export-Import Bank of Korea said they would provide funds to boost the shipbuilder’s cash flow and convert its liabilities into equity to cut debt.
After falling in 19 of the previous 21 months, railway employment levels in the United States in February 2017 ticked up 0.28 percent from the previous month, according to recent data from the U.S. Surface Transportation Board.
The Athens, Greece-based containership lessor has entered into a Securities Purchase Agreement with Kalani Investments for the sale of up to 150,000 newly designated series B-1 and B-2 preferred shares, according to a statement form the company.
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United States gross domestic product increased 1.9 percent in the fourth quarter of 2016, according to the “second” estimate from the Department of Commerce, down from a 3.5 percent growth rate in the third quarter.
Various headwinds in 2016 sent the industry into a tailspin, culminating with the demise of Hanjin Shipping, a company many thought was too big to fail.
Federal Maritime Commission Acting Chairman Michael Khouri said the change will eliminate requirements that were obstacles to efficiency and added unnecessary costs.