Subscribe to RSS feedGermany blocks guarantees for owners
THE GERMAN Government has effectively ruled out providing state support for the country’s crisis-stricken KG companies and shipowners, as they seek to fund US$36.8bn in boxship newbuildings contracted at South Korean and Chinese yards.
National maritime coordinator Hans-Joachim Otto indicated he would not meet South Korean yards’ requests for government-backed loan guarantees in exchange for agreeing deferred payments and delivery delays with German owners.
“The German Government is not in negotiations with South Korea...
This full article is available to Lloyd's List DCN subscribers only.
If you are already a subscriber, please sign in below.
If you're not a subscriber and would like to experience the full benefits of Lloyd's List DCN with a 14 day trial, please click here.
Alternatively, click here to subscribe.
| Tweet |
Daily Top Stories
- Rena officers sent to prison
- New salvage facility for Cairns
- Worker dies in Newcastle wharf tragedy
- Major supramax markets diverge
- Panama Canal fees hike planned for July
- 12% of world tanker fleet facing scrapping
