South Korea
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Asia
Vital boost for HMM from likely brokerage sale
The light at the end of the tunnel just grew brighter for South Korea’s Hyundai Merchant Marine (HMM). Its parent…
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Asia
Former minister suggests merging South Korea’s big three yards
South Korea’s top three shipbuilding should be merged into just one or two entities, a former minister said in Seoul…
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Asia
HMM creditors approve self-rescue deal
Hyundai Merchant Marine’s (HMM) creditors, led by state-run Korea Development Bank, have approved the South Korean shipping company’s self-rescue plan,…
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Asia
HMM offloads Busan terminal stake to PSA
Hyundai Merchant Marine has completed its much telegraphed sale of its stake in a local terminal to Singapore’s PSA International.…
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Asia
Haniin Heavy and creditors agree new deal
South Korean shipyard Hanjin Heavy Industries & Construction will head into joint management with its creditors within the next six…
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Asia
HMM told to cut charter costs or go bankrupt
Shipowners who have ships on charter to under pressure Hyundai Merchant Marine (HMM) look like they will decide the fate…
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Asia
Hanjin Shipping confirms asset sales are on the cards
Hanjin Shipping, questioned by the Korea Stock Exchange, has confirmed earlier reports carried by this site that it is looking…
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Asia
Korean banks face huge losses from bailing out local shipping industry
The overextended state of South Korean shipping and shipbuilding is pushing state-run banks to breaking point. The vast swathe of…
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Asia
HMM applies for self-rescue deal
Hyundai Merchant Marine (HMM) has applied for self-rescue measures that could see the South Korean carrier co-managed by its creditors…
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Asia
Hyundai Motor will not ride to HMM’s rescue
Hyundai Motor has steered clear of being drawn into any rescue package for ailing shipping line, Hyundai Merchant Marine (HMM).…
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Asia
Woolim in for chemical pair
Local Korean tanker player Woolim Shipping has gone to compatriot yard, Yeunsoo Heavy Industries, for three 6,600 dwt IMO II…
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Asia
Hyundai Samho bags Middle Eastern suezmax orders
South Korea’s Hyundai Samho Heavy Industries has bagged an order for a pair of 158,000 dwt coated suezmaxes from (AMPTC),…
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Asia
HMM shareholders agree to 7-to-1 capital reduction
Shareholders of Hyundai Merchant Marine (HMM) today approved a capital reduction in order to keep the line listed in Seoul.…
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Asia
Hyundai Merchant Marine and KDB agree three-month debt break
Hyundai Merchant Marine (HMM) and Korea Development Bank (KDB) will sign a voluntary agreement on March 29 that will extend…
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Asia
SPP takeover in doubt
The planned takeover of part of SPP Shipbuilding by fellow Korean firm Samla Midas Group (SM Group) has run into…
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Asia
Seoul supports HMM restructuring
The PR firm working for Hyundai Merchant Marine (HMM) has contacted Splash to report that the South Korean minister of…
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Asia
Hanjin Shipping looks to gain $1bn from savings and sales
Like a number of compatriot lines, Hanjin Shipping is looking at drastic financial remedial action. With a debt ratio of…
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Asia
Bankrupt Korean bulker owner sees rehab plan vetoed for second time
Samsun Logix is one step nearer to oblivion. On Friday the South Korean bulker player saw its latest rehabilitation plan…
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Asia
DSME to issue new shares
Daewoo Shipbuilding & Marine Engineering (DSME) is planning to issue KRW600bn ($507m) in new shares this year in a bid…
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Asia
DSME to let go of 12,000 staff
Financially struggling Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) will slash its workforce by 12,000 to 30,000 by 2019.…
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