Search results for: Harim Group

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  • 20 July 2015
    Business & Finance

    Singapore-listed bulker owner Pan Ocean Co., Ltd. has appointed Harim Group’s chairman Kim, Hong Kuk as Chief Executive Officer. South Korean shipping company signed the investment contract with its preferred bidder Harim Group & JKL Consortium in February. The consortium, made up by poultry processor Harim and Korean private equity group JKL Partners, assigned USD 968 million for the acquisition […]

  • 20 July 2015
    Business & Finance

    Singapore-listed bulker owner Pan Ocean Co., Ltd. has appointed Harim Group’s chairman Kim, Hong Kuk as Chief Executive Officer. South Korean shipping company signed the investment contract with its preferred bidder Harim Group & JKL Consortium in February. The consortium, made up by poultry processor Harim and Korean private equity group JKL Partners, assigned USD 968 million for the acquisition […]

  • 12 February 2015
    Business & Finance

    South Korean shipping company Pan Ocean has signed the investment contract with its preferred bidder Harim Group & JKL Consortium today. The consortium, made up by poultry processor Harim and Korean private equity group JKL Partners, is expected to pay up to USD 968 million for the acquisition. The contract signing follows an approval from the relevant Korean bankruptcy court. […]

  • 30 July 2015
    Business & Finance

    Seoul Central District Court has approved the completion of rehabilitation procedure of South Korean bulk shipping company Pan Ocean Co., Ltd. “Considering the company’s assets, liabilities, management condition and etc, it is expected that there would be no difficulties of repayment to the creditors, the court decided to discontinue the rehabilitation procedures upon receiving an […]

  • 21 July 2015
    Business & Finance

    South Korean bulk shipping company Pan Ocean Co., Ltd. has filed an application for completion of its rehabilitation procedure to Seoul Central District Court. The application comes on the back of the completion of the company’s restructuring process which saw repayment of the claims of creditors and other interested parties, along with the merger with Harim Group & […]

  • 21 July 2015
    Business & Finance

    South Korean bulk shipping company Pan Ocean Co., Ltd. has filed an application for completion of its rehabilitation procedure to Seoul Central District Court. The application comes on the back of the completion of the company’s restructuring process which saw repayment of the claims of creditors and other interested parties, along with the merger with Harim Group & […]

  • 30 July 2015
    Business & Finance

    Seoul Central District Court has approved the completion of rehabilitation procedure of South Korean bulk shipping company Pan Ocean Co., Ltd. “Considering the company’s assets, liabilities, management condition and etc, it is expected that there would be no difficulties of repayment to the creditors, the court decided to discontinue the rehabilitation procedures upon receiving an […]

  • 12 June 2015
    Business & Finance

    Pan Ocean’s rehabilitation plan has been approved by the Seoul Central District Court, following the agreement of more than two thirds of unsecured claims creditors (87.0%) and more than half of shareholders (61.6%), the bulker owner said in a stock exchange filing. The company submitted the revised rehabilitation plan to the court on 21st April 2015, and submitted the […]

  • 19 January 2015
    Business & Finance

    South Korean-based shipowner Pan Ocean has issued another batch of shares within its restructuring scheme worth USD 123 million. The total shares for this debt-to-equity amount to 13.2 million, in addition to the 214.5 million already in circulation. Issuing shares for the confirmed claim amount on the rehabilitation plan are 165,926 through 2nd share consolidation and the effective […]

  • 17 December 2014
    Business & Finance

    Harim Group & JKL Consortium has been selected as the preferred bidder for Pan Ocean’s fleet. The consortium, made up by poultry processor Harim and Korean private equity group JKL Partners, is expected to pay up to USD 968 million for the acquisition. The South Korean shipping company said in a filing to Singapore Exchange […]

  • 2 March 2015
    Business & Finance

    South Korean bulk shipping company Pan Ocean has reported a net profit of USD 750.9 million in its full year results for 2014 on the backdrop of its successful restructuring process. The company said that its increased profit reflects the gain on exemption of dept through debt-to-equity conversion, along with contract termination of high cost chartered […]

  • 23 December 2014
    Business & Finance

    South Korean Pan Ocean Co., Ltd.  has signed a Memorandum of Understanding with Harim Group, South Korean poultry processor  and JKL Partners, a private equity fund, setting the stage for its acquisition by the consortium.   The consortium was selected as preferred bidder on December 16, 2014, after withdrawal of four other suitors, including KKR private […]

  • 13 April 2015
    Business & Finance

    Singapore-listed bulker owner Pan Ocean revealed intentions to issue new round of shares within its debt-for-equity swaps with creditors. The restructured company plans to issue another 757,844 shares at KRW 10,000 each on April 29th. The decision comes within Pan Ocean’s strategy of settling claims arising from its recent bankruptcy. “This debt-to-equity conversion is for the two kinds of creditors. […]

  • 23 March 2016
    Business & Finance

    Freshly rehabilitated South Korean shipping company Pan Ocean Co. has entered into a Contract Of Affreigtment (COA) with Brazilian mining conglomerate Vale, for the shipping of iron ore of approximately 32 million tons. The contract is signed for 20 years from the fourth quarter of 2016 to the fourth quarter of 2036 and is valued at […]

  • 31 March 2017
    Business & Finance

    Korea’s shipping company Pan Ocean recorded USD 83 million in profit for 2016, more than doubling its profit posted a year earlier that came at USD 34 million. The profit surge was recorded despite poor dry bulk market. However, the company expects the market to revive as more bulkers are projected to be phased out […]

  • 5 November 2014
    Business & Finance

    Rehabilitation of the debt-laden Korean bulk carrier operator Pan Ocean seems to be on track based on the recent financial highlights for the third quarter. The company recorded a KRW196.2Bn (USD 191 million) profit for the quarter, compared to a loss of USD 533.92 million in the same period in 2013, according to a filling to Singapore stock exchange. […]

  • 6 June 2016
    Business & Finance

    Japanese shipping company Kawasaki Kisen Kaisha (K Line) has secured a long-term contract to transport steaming coal for Tenaga Nasional Berhad (TNB), the largest electric utility company in Malaysia. Namely, K Line has established a joint venture company owning Malaysian-flag panamax vessel with Halim Mazmin Group (HMG) in order to participate in a tender for […]

  • 21 November 2016
    Business & Finance

    New work to assess the environmental impacts of wastes from mining operations which have been disposed into the marine environment is set to begin shortly. The work will be undertaken by a dedicated working group, established by the Joint Group of Experts on the Scientific Aspects of Marine Environmental Protection (GESAMP). GESAMP, which is a […]

  • 18 February 2015
    Business & Finance

    Malaysian-based shipping company Hubline has decided to exit the container shipping business and focus on break bulk.

  • 4 June 2015

    Environmental groups moved for an immediate stay of two orders of the Federal Energy Regulatory Commission that allow Dominion Cove Point LNG to construct and operate an LNG export terminal in rural Calvert County.

  • 4 June 2015

    Environmental groups moved for an immediate stay of two orders of the Federal Energy Regulatory Commission that allow Dominion Cove Point LNG to construct and operate an LNG export terminal in rural Calvert County.

  • 17 February 2017
    Authorities & Government

    The U.S. District Court for the District of Columbia denied the motion for preliminary injunction to temporarily halt the final ratification of a lease for a wind energy site off New York, provisionally won by Statoil.