Receiver Berthold Brinkmann, acting for the troubled Hamburg-based JJ Sietas shipbuilding group, says that five concrete offers have been received for the three companies in the group. This is the result of the second phase of the search for investors by the receiver. During the first phase, a number of potential investors were approached by HSH Corporate Finance, which had been commissioned with the task, and interested parties were asked to submit indicative offers. During the second phase, these offers were to be put into more concrete terms and confirmed after an in-depth due diligence assessment. Brinkmann commented: "The five binding offers that we have meanwhile received for the Sietas Group companies include both an overall solution as well as the acquisition of individual companies. I am optimistic that we will be able to find a solution for all three companies – Sietas shipyard, Neuenfelder Maschinenfabrik and Norderwerft."

Five concrete offers have been received for the companies of the Hamburg-based Sietas Group. This is the result of the second phase of the extensive search for investors by the receiver of the Sietas shipyard, Berthold Brinkmann. During the first phase, a number of potential investors were approached by HSH Corporate Finance, which had been commissioned with the task, and interested parties were asked to submit indicative offers. During the second phase, these offers were put into more concrete terms and confirmed after an in-depth due diligence assessment. Receiver Berthold Brinkmann said on May 22nd, 2012: “The five binding offers that we have meanwhile received for the Sietas Group companies include both an overall solution as well as the acquisition of individual companies. I am optimistic that we will be able to find a solution for all three companies – Sietas shipyard, Neuenfelder Maschinenfabrik NMF and Norderwerft." Informing the board of creditors about the confirmed bids, Brinkmann said the five bidders are mostly strategic investors from the shipbuilding industry. www.heavyliftpfi....

Maersk Line, the container-ship division of Denmark's A.P. Moller-Maersk A/S , plans to raise its Latin American cargo rates by as much as 30 percent this year to stanch losses and pay for 16 ships being built for the region, the company said. The decision to raise Latin American rates comes as Maersk, the world's largest container shipping company and a barometer for world trade, struggles to recover from a world economic downturn. uk.reuters.com/ar...