South Korea
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Asia
SPP urges South Korean president to save yard
Since imperiled SPP Shipbuilding’s urgent plea to its creditor to issue refund guarantees has fallen on deaf ears, management have…
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Asia
800 staff face the axe at troubled STX yard
Financially troubled STX Offshore & Shipbuilding (STX O&S) will slash 800 staff, roughly 30% of its approximate 2,600 workforce, as…
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Europe
Dong A Tanker sells two brand-new MRs
South Korea’s Dong A Tanker has sold two of its newly delivered MR product tankers to Greek buyers for $69.6m…
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Asia
DSME suing Songa Offshore for $179m
Daewoo Shipbuilding and Marine Engineering (DSME) has filed a claim submission for $179m against Songa Offshore, regarding the construction contract…
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Asia
STX Offshore & Shipbuilding on the brink
STX Offshore & Shipbuilding is on the verge of liquidation unless a large amount of money can be pumped into…
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Asia
South Korea to check profitability of all ship orders
The South Korean government has announced that the state-run financial institutions will commence profitability checks on shipbuilding orders and large…
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Middle East
Saudi Aramco eyes JV yard with Hyundai Heavy
Having just put one planned yard with Singapore’s Sembcorp Marine on the backburner, Saudi Aramco is eyeing up Hyundai Heavy…
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Asia
Navigator orders midsize LPG carrier at Hyundai Mipo
Navigator Holdings has announced today that it has entered into a contract with Korea’s Hyundai Mipo Shipyard for the construction…
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Asia
Another fire at DSME kills one, injures seven
A fire broke out at Daewoo Shipbuilding & Marine Engineering’s Okpo Shipyard today, which has killed one worker. Another seven…
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Asia
Seoul denies it its trying to force Hanjin and HMM to merge
Following a local media report this morning that the government is set to discuss the merger of the nation’s top…
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Asia
Merger rumours send HMM and Hanjin share prices into a tailspin
Rumours on plans to merge South Korea’s top two shipping lines simply refuse to die down, the uncertainty plaguing the…
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Asia
DSME selling Seoul headquarters
As is common among struggling shipping-related firms in South Korea, the extremely centrally-located Seoul headquarters of Daewoo Shipbuilding & Marine…
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Asia
DSME to slash order intake by 20%
Daewoo Shipbuilding & Marine Engineering (DSME), one of the largest shipyards in the world, will cut the amount of orders…
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Asia
SK denies DSME takeover talk
SK Group, South Korea’s third largest conglomerate, today denied it was taking over troubled yard Daewoo Shipbuilding & Marine Engineering…
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Asia
What a merger between Hanjin and HMM would look like
With details of the mega merger between Cosco and China Shipping expected to be revealed within days, it is across…
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Asia
Hanjin ‘reviewing’ sale of its stake in H-Line
Hanjin Shipping says it is “reviewing” the sale of its 22.2% stake in H-Line, which it hopes could raise up…
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Asia
Korea’s big three yards brace for more hits to their $66bn offshore backlog
The huge offshore gamble that South Korea’s big three shipbuilders embarked upon around a decade ago has come back to…
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Asia
KSS adds another VLGC
KSS Line has gone to Hyundai Heavy Industries (HHI) for an 84,000 cu m VLGC, paying $77m for the ship…
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Asia
Samsung Heavy cancels plans for a Southeast Asian yard
Amid straitened times on home soil Korean mega yard Samsung Heavy Industries (SHI) has canned long held plans to open…
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Asia
HMM denies Hanjin merger talk
Hyundai Merchant Marine yesterday issued a statement to the Korea Exchange dismissing reports that it would merge with fellow Korean…
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