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

Fesco and RZD team up to link Europe and Asia thumbnail image

Fesco and RZD team up to link Europe and Asia

May 24 - Fesco Transportation Group and Russian Railways Logistics (RZD Logistics) are launching a Trans-Siberian multimodal service to expedite the delivery of goods from Japan to Europe via Russia.
Views: 484
POSH to launch maritime training centre in Taiwan thumbnail image

POSH to launch maritime training centre in Taiwan

May 24 - POSH Kerry Renewables – a joint venture of PACC Offshore Services Holding (POSH) and Kerry TJ Logistics – has signed a memorandum of understanding (MoU) to develop Taiwan’s first specialised maritime training centre. 
Views: 380
PPG restructures training course thumbnail image

PPG restructures training course

May 24 - The Project Professionals Group (PPG) has restructured its project cargo forwarding training course into a one-day format.
Views: 396

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