South Korea
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Asia
Hanjin boss crashes out of Winter Olympics
Hanjin Shipping’s sharp downhill financial performance of late has forced the chief organiser of South Korea’s 2018 Winter Olympics to…
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Asia
Samsung Heavy ordered to produce restructuring plan
Creditors of South Korea’s Samsung Heavy Industries have ordered the shipyard to produce a self-restructuring plan, reports say. The state-run Korea Development Bank,…
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Asia
Hanjin Heavy gets another $105m from creditors
Hanjin Heavy Industries is to receive a further KRW 120bn ($105m) cash injection from its creditors, led by Korea Development Bank…
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Asia
Hanjin Shipping boss seeks support from owners
The Wall Street Journal has details of a letter sent by Hanjin Shipping ceo Suk Tae-soo, asking for help from…
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Asia
Hanjin expected to outline restructuring plans on Wednesday
Local media in Seoul is reporting Hanjin Shipping will unveil a creditor-led restructuring program on Wednesday. The plans are likely…
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Asia
DSME close to sealing Iranian jack-ups
Daewoo Shipbuilding & Marine Engineering (DSME) has revealed it is close to sealing an order from Iran for jack-up rigs.…
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Asia
Creditors put pressure on Cho family to help save Hanjin Shipping
Hanjin Shipping will need KRW1.2trn won ($1bn) to keep going for the next two years, according to a report written…
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Asia
Korean yard workers threaten action over mass layoff plans
Unions at two of South Korea’s largest shipyards have warned they will take militant action if job cuts proceed as…
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Asia
Samsung Heavy dealt another blow as Shell cans triple FLNG order
Samsung Heavy Industries has suffered another huge blow to its dwindling orderbook with Royal Dutch Shell cancelling plans for three…
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Asia
Hyundai Heavy Industries executives face the chopping block
Hyundai Heavy Industries (HHI) plans to lay off a quarter of its senior executives, equivalent to around 60 senior employees, before the end…
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Asia
Analysts in the firing line for failure to spot Hanjin’s demise
Analysts in Seoul failed to see the full plight of Hanjin Shipping, and are on the receiving end of considerable…
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Asia
Korean shipping lenders need a cash injection or could face collapse
South Korea’s ministry of finance is considering ways of increasing the capital of state-run lenders Korea Development Bank (KDB) and the Export-Import…
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Asia
Ulsan chosen to print ships
How soon till a ship comes hot off the press? Ulsan, the Korean industrial city where Hyundai Heavy Industries is…
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Asia
Seoul wades into shipping restructuring
The South Korean government will come to the rescue of the nation’s hard pressed shipping lines and shipbuilders. With many…
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Asia
Financial watchdog investigates former Hanjin chairman’s share selloff
South Korea’s Financial Supervisory Service is looking into speculation that Choi Eun-yeong, Hanjin Shipping’s chairman until 2014, profited from the…
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Asia
D’Amico sells ultramax to Korea Line
An ultramax just out of Yangfan’s shipyard in China has reregistered its owner name from Italy’s D’Amico to one of…
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Asia
Hyundai Merchant Marine facing court receivership
The clock is ticking for embattled Hyundai Merchant Marine (HMM). South Korea’s finance minister Yoo Il-ho said yesterday HMM will…
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Asia
Hanjin Shipping’s share price hits record low as it sets about restructuring
Hanjin Shipping’s share price touched record lows this morning in Seoul, hitting KRW2,580 as the line announced plans for a…
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Asia
Hyundai Heavy Industries to cut workforce again and close 20% of the group
Hyundai Heavy Industries is expected to cut its workforce again by around 10% as it restructures after suffering heavy losses incurred…
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Asia
KDB linked with Hyundai Merchant Marine takeover
Korea Development Bank (KDB) has stepped in to save struggling Hyundai Merchant Marine (HMM), multiple outlets in Seoul are reporting.…
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