21
Apr
10:07
South Korean shipbuilder bail out progresses
South Korea’s shipbuilding sector has struggled with heavy debts and insolvency and it is expect to generate less steel demand this year. Daewoo Shipbuilding & Marine Engineering however has made progress with a debt-for-equity swap which could sustain it until shipbuilding orders recover, Kallanish notes.
Daewoo Shipbuilding has agreed with its largest bond-holder, Korea’s National Pension Service, to swap its debt, which currently totals around…
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Anonymous
Very good overview of the weekly steel market.
Anonymous