Independent journal on economy and transport policy
08:02 GMT+1
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Korea Development Bank threatens to deny its support to Hanjin Shipping
the only percorribile road for the company of South Korean navigation seems to be that of the controlled administration
August 30, 2016
If in these last months adding of unknown quantities they had returned the future of Hanjin Shipping unforeseeable, today the fogs have thinned and seem that there is a single road that the company of South Korean navigation can cover: that to introduce to the court a request for being mail in controlled administration. After uncertainty months, in fact, today the main creditor of the society has announced that he will not support the plan of restructure of the company introduced from Hanjin Shipping.
To nothing they seem been worth the initiatives in order to improve the business economic perspectives that have carried Hanjin Shipping to agree with some financial institutions foreign countries the extension of the duration of the loans and with the owners of the ships rented from the company an adaptation of the installments of hire to the financial situation of Hanjin Shipping and to the conditions of the market of the marine transport of the container that a extremely negative phase is crossing.
Main Al creditor of the company, Korea Development Bank (KDB), that he boasts a credit exposure pairs to 660 billion won, these and other measures proposed or put into effect from Hanjin Shipping and illustrated in the last version of the introduced plan of restructure the creditors does not appear sufficient for a reorganization of the accounts. For a long time KDB asks the president and delegated aministratore for the company for nvigazione, Cho Yang - I have, a greater contribution financial. The innovation, extremely negative for Hanjin Shipping, is that today Korea Development Bank has announced that will not grant an ulterior support to the company, than from some months is up against a serious crisis of liquidity.
The indebtedness clearly of the South Korean company on 30 June piled to 6.100 billion won (5,4 billion dollars).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
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If in these last months adding of unknown quantities they had returned the future of Hanjin Shipping unforeseeable, today the fogs have thinned and seem that there is a single road that the company of South Korean navigation can cover: that to introduce to the court a request for being mail in controlled administration. After uncertainty months, in fact, today the main creditor of the society has announced that he will not support the plan of restructure of the company introduced from Hanjin Shipping.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
