South Korea
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Asia
STX yard avoids liquidation
A South Korean court approved a filing by STX Offshore & Shipbuilding yesterday to be put under a court-led restructuring…
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Asia
Former Hanjin chairman faces prosecutors’ insider trading charges
Choi Eun-young, the former head of Hanjin Shipping, appeared before prosecutors in Seoul today, accused of insider trading. Choi, and…
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Asia
No more supercycles: Hyundai Heavy Industries
The glory days of the supercycle that saw ship orders spiral from 2004 to 2008 will never return, the world’s…
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Asia
HMM will issue $2.1bn of new shares
Embattled Korean line Hyundai Merchant Marine (HMM) plans to raise more than KRW2.5trn ($2.1bn) from a new share issuance in…
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Asia
‘Charter talks are progressing as planned’: Hanjin Shipping
Hanjin Shipping has stressed its negotiations with foreign owners on cutting charter costs are continuing. The negotiations are a key…
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Asia
Korea Development Bank takes over HMM
Korea Development Bank (KDB) is taking over troubled local line Hyundai Merchant Marine (HMM). HMM said it decided today to…
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Asia
SK Shipping takes two Hyundai LNG carriers for $400m
Hyundai Heavy Industries (HHI) has confirmed it has won its first LNG orders of the year. In a much telegraphed…
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Asia
Japan takes aim at Seoul’s shipyard rescue package
Seoul’s decision to come to the aid of its shipyards has been criticized by the Japanese government – the starting…
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Asia
Creditors approve restructuring plans of South Korea’s largest yards
South Korea’s largest two shipyards – Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) – have had their restructuring…
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Asia
Bondholders boost HMM’s alliance hopes
Hyundai Merchant Marine (HMM) announced that it has successfully completed all five bondholders’ meetings held on May 31 and June…
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Asia
KSS orders chemical trio at Dae Sun
South Korea’s KSS Line has ordered three small chemical tankers at compatriot Dae Sun Shipbuilding. The 3,500 dwt vessels are…
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Asia
‘Groundless rumour’: HMM slams Hanjin merger talk
Hyundai Merchant Marine (HMM) has slammed reports linking it to a merger with compatriot Korean line Hanjin Shipping. Local media…
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Asia
HMM urged to merge with Hanjin Shipping to join THE Alliance
THE Alliance, a brand new grouping of six containerlines, only has room for one South Korean member, according to a…
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Asia
Debts at Korea’s top yards soar past KRW100trn
The combined debt held by South Korea’s top nine shipbuilders topped KRW100trn won ($84.7bn) last year according to the data…
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Asia
HMM says charter negotiations will reach ‘swift agreement soon’
Hyundai Merchant Marine (HMM) has just announced that its charter negotiations with foreign shipowners are “expected to reach an agreement…
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Asia
Court to decide STX yard’s fate
STX Offshore & Shipbuilding officially filed an application in Seoul for court receivership late on Friday. The court will now…
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Asia
Heung-A in for chemical pair at Dae Sun
Dae Sun Shipbuilding & Engineering has won an order to build two 6,500 dwt chemical tankers from Heung-A Shipping. The…
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Asia
Hanjin Shipping bulker resumes sailing
Hanjin Shipping issues a release on Sunday to communicate that its bulker, has resumed its sailing on May 27. The…
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Asia
IMF questions Seoul’s maritime rescue plan
The International Maritime Fund (IMF) has weighed into and criticised Seoul’s efforts to save its leading shipping lines and shipbuilders.…
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Asia
HMM and Hanjin share prices soar on optimistic charter talks
The share prices of South Korea’s leading two shipping lines rocketed today on speculation that significant advances had been made…
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