The state-run Korea Development Bank, the largest shareholder of Daewoo Shipbuilding and Marine Engineering (DSME), has signed a conditional deal with Hyundai Heavy Industries (HHI) to sell a 55.7% controlling stake in the yard, creating shipping’s first real ‘Boeing’ when it comes to ship construction.
Combined the two yards – which according to Clarkson data ranked number one and two in the world last year – have an orderbook of around 180 ships, and have 16 drydocks capable of building the most advanced ships in the world.
The deal is not concluded however as KDB stated it would approach the country’s number three yard, Samsung Heavy Industries, to see if it wanted to take over DSME.