Latest news from Heavy Lift & Project Forwarding International Magazine

Harim nears Pan Ocean takeover

June 17 - South Korean poultry processor Harim Corp is set to complete its purchase of Pan Ocean after creditors and shareholders approved a rescue plan for the country's biggest bulk carrier.

Harim had been selected as the preferred bidder having submitted KRW1.08 trillion won (USD970 million) for the acquisition last week.

Pan Ocean, formerly known as STX Pan Ocean, has been under court receivership since June 2013 and was put up for sale in March last year. It was split from STX Group as the parent company suffered a severe credit crunch.

In a vote held at a Seoul court last week, 87 percent of the creditors and 61.6 percent of the shareholders approved Pan Ocean's rescue plan on the condition that Harim takes over the company.

Harim is expected to complete the acquisition next month, pending court approval.

In May, Pan Ocean posted a Q1 2015 net profit of USD105.98 million - up by 208.5 percent over the same period of 2014.  The line recorded revenues of USD352.74 million - up by 8 percent year-on-year.

Heavy Lift | News

BigMove goes digital for licenses thumbnail image

BigMove goes digital for licenses

July 17 - BigMove – a European alliance of 13 medium-sized logistics companies – is introducing digital driving licenses for its network of 1,000 drivers.
Views: 4
ESTA joins EC best practice project thumbnail image

ESTA joins EC best practice project

July 16 - The European association of abnormal road transport and mobile cranes (ESTA) has been asked to support a European Commission study to “explore health, safety and environment (HSE) best practice in the wind power sector”.
Views: 497
LDA installs kite system  thumbnail image

LDA installs kite system 

July 16 - Louis Dreyfus Armateurs (LDA) has fitted its ro-ro vessel Ville de Bordeaux with an AirSeas kite system, as it looks to develop the use of wind propulsion technologies.
Views: 431
Sarens partners with Moir Crane thumbnail image

Sarens partners with Moir Crane

July 16 - Sarens has teamed up with Canada’s Moir Crane as the two companies look to capitalise on the region’s upcoming construction projects.
Views: 550

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