Bolloré bounce boosts CMA CGM Q2 revenues, but job worries persist
CMA CGM Group has announced a “robust performance” in the second quarter, with revenues up ...
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
There has been no official release to the international press by Zim, or its parent company Israel Corporation, but it appears from this article that negotiation with creditors – banks, shipyards and bondholders – have been completed, with the result that some $1.5bn in debts is to be collectively wiped off. Ouch. Israel Corporation, owned by the Ofer family, will have to inject another $200m in the struggling carrier and see its stake reduced to 33%. The one winner is the state of Israel, which sold its stake in 2004 in a then heavily criticised move. It now appears to have been remarkably prescient.
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Comment on this article
Michael Kusuplos
January 20, 2014 at 4:56 pmIsn’t funny how 10 years can change the perspective of so many individuals!