DSME puts local yard up for sale

Troubled Daewoo Shipbuilding & Marine Engineering (DSME) is looking to sell subsidiary Samwoo Heavy Industry. KPMG Samjeong, DSME’s adviser, has sought interest in the shipyard from both domestic and overseas interests.

Samwoo Heavy Industry is located in Gwangyang and was founded in 2007. It is a manufacturer of ship and offshore plant equipment.

DSME’s painful restructuring has seen it put many assets up for sale. It has yet to find a buyer, however, for Daewoo Mangalia, the largest shipyard in Romania, whose orderbook is now running dangerously low.

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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