Embattled Korea Line Corporation announced on October 13 that it has issued a revised rehabilitation plan, Seatrade Asia online reports. Changes from the one that was vetoed a month ago by creditors include the repayment method, protecting shareholders’ rights, as well as making plans for a new share placement.
In other Korea Line news, shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has become a fully fledged shipowner and operator of four VLCCs and two capesize bulkers, having taken over DK Maritime and KLDS Maritime from Korea Line for a nominal fee of just $1 each. ?DSME and Korea Line formed the two companies in 2008 as 50:50 jvs.
In other Korea Line news, shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has become a fully fledged shipowner and operator of four VLCCs and two capesize bulkers, having taken over DK Maritime and KLDS Maritime from Korea Line for a nominal fee of just $1 each. ?DSME and Korea Line formed the two companies in 2008 as 50:50 jvs.