Latest news from Heavy Lift & Project Forwarding International Magazine

Pan Ocean seeks court reprieve

July 22 - South Korean shipping line Pan Ocean has applied to exit its court ordered rehabilitation plan, while appointing new chief executive officers to lead the organisation.

In a filing released on the Singapore stock exchange, Pan Ocean claims it can repay its remaining creditors and could develop into a healthy corporation in times to come. The answer to Pan Ocean's application for the completion of rehabilitation proceedings will be disclosed at a later date.

Pan Ocean, formerly known as STX Pan Ocean, entered into receivership during June 2013 and commenced its rehabilitation plan during November the same year. HLPFI reported in June 2015 that South Korean poultry processor Harim Corp was prepared to complete the purchase of Pan Ocean after creditors and shareholders approved a rescue plan for the carrier, for the sum of KRW1.08 trillion (USD970 million). 

Meanwhile, Pan Ocean appointed two new chief executive officers - Kim Hong Kuk and Choo Sung Yob - to oversee the line's activities. Four independent directors were also appointed: Choi Seung Hwan; Chang Yoo Whan; Shin Jeong Shik and Christopher Anand Daniel.

www.panocean.com

Heavy Lift | News

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: 379
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: 361
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: 396
Karl Gross teams up with Natco thumbnail image

Karl Gross teams up with Natco

July 15 - Bremen-headquartered Karl Gross Group and Natco SA have formed an exclusive partnership in South Africa.
Views: 566

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