South Korea
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Asia
McKinsey urges Korea’s top yards to halve production capacity by 2020
Consultant McKinsey says there is no need for any mergers between South Korea’s top three shipyards – Hyundai Heavy Industries…
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Europe
Hyundai Heavy and Fred. Olsen Energy come to agreement over cancelled rig
Fred. Olsen Energy has finally reached a multi-million dollar agreement with South Korean shipyard Hyundai Heavy Industries (HHI) over a…
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Asia
Crew evacuated as timber slides off listing Russian ship
The crew of a listing Russian general cargo ship have been evacuated. The Alfa issued a distress signal yesterday afternoon…
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Asia
Samsung Heavy eyes taking Singapore on at ship repair
Samsung Heavy Industries (SHI) will pursue new revenue streams as it fixes its restructuring, the shipbuilder’s ceo, Park Dae-young said…
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Asia
DSME facing delisting
South Korea’s state-run Korea Development Bank (KDB) might have to backtrack on earlier statements claiming it would not throw more…
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Asia
Hyundai Heavy workers to go on indefinite strike from August 31
Workers at Hyundai Heavy Industries (HHI) three yards will go on an indefinite from August 31, protesting the huge restructuring…
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Asia
Doorae Shipping fined again for breaking anti-pollution law off Hawaii
US authorities on Tuesday fined the South Korean owners of tanker $275,000 for breaking a pollution law off Hawaii. The…
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Asia
Has Hanjin made a breakthrough days ahead of court receivership deadline?
There’s just 19 days to go until Hanjin Shipping must meet stipulations set out by creditors or risk entering court…
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Asia
Samsung Heavy rights issue coming soon
South Korea’s Samsung Heavy Industries (SHI), in the midst of a large restructuring, is pushing ahead with a rights offering…
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Asia
Hanjin Transportation may buy Hanjin Shipping’s Long Beach terminal
Hanjin Shipping may sell its container terminal at the Port of Long Beach in California to parcel delivery firm Hanjin…
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Asia
Sale of STX France expected to resume this month
STX Offshore & Shipbuilding will mount a third attempt to sell of its French subsidiary as early as next week.…
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Asia
Amidst the ordering downturn, South Korea has a new shipbuilder
While all around it are struggling to get any orders, one South Korean yard is celebrating its first ever ship…
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Asia
Seoul rules out rescuing Hanjin Shipping
South Korea’s lead financial regulator said today that Hanjin Shipping will receive no financial aid from the state. Reeling from…
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Asia
DSME’s 2015 loss was bigger than it reported, investigation finds
Financial authorities in South Korea have found that the operating loss posted by Daewoo Shipbuilding & Marine Engineering (DSME) in…
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Asia
DSME’s liquidity shortage set to worsen
The next few years will prove incredibly hard for Daewoo Shipbuilding & Marine Engineering’s (DSME) balance sheet, a new due…
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Asia
Authorities investigate HMM’s share price slide
The Financial Supervisory Service and the Korea Exchange are investigating the extraordinary plunges this week in the share price of…
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Asia
Ron Widdows tipped to take top job at HMM
Industry veteran Ron Widdows is one of the frontrunners for the vacant CEO position at Korea’s Hyundai Merchant Marine (HMM),…
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Asia
Court cases rack up against STX Offshore & Shipbuilding
Troubled South Korean shipyard STX Offshore & Shipbuilding has admitted a slew of court cases are heaping pressure on the…
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Asia
Hyundai Merchant Marine shares take record dive
Just as Hyundai Merchant Marine (HMM) might have thought it had weathered the worst of the financial storm, today it…
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Asia
Former Korea Development Bank chairman linked to DSME fraud scandal
The multi-billion dollar accounting fraud scandal that has rocked Daewoo Shipbuilding & Marine Engineering stepped up a gear today with…
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