Daehan and K Shipbuilding to join forces

The redrawn Korean shipbuilding map is set for more changes with two mid-sized names joining forces.

After a local steel mill pulled out of the running last week, Korean private equity form KH Investment has been given the green light by creditors to take over Daehan Shipbuilding.

KN Investment also bought out STX Offshore & Shipbuilding last year, rebranding it K Shipbuilding.

Over the past decade the number of Korean shipbuilders has contracted considerably with many yards merging or going bust. One other merger that has been put on the back-burner this month is between Daewoo Shipbuilding & Marine Engineering (DSME) and Hyundai Heavy Industries (HHI), with the European Commission ruling against it, claiming the move would create a dominant construction force in the liquefied natural gas carrier market.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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