Hyundai Heavy makes bid for DSME

Hyundai Heavy makes bid for DSME

Hyundai Heavy Industries (HHI) has confirmed it has been in discussions to buy a majority stake in Daewoo Shipbuilding & Marine Engineering (DSME) from the state-run Korea Development Bank.

DSME has been under state control for a number of years, hit hard by an accounting scandal and a downfall in orders.

Combined HHI and DSME would be the largest shipbuilder in the world by some distance with a joint orderbook of around 180 ships.

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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