Hyundai Mipo Dockyard has suspended operations at one of its four drydocks through to the end of the year as it fights a dwindling orderbook.
The news is another blow to parent Hyundai Heavy Industries, the world’s largest shipbuilder, which has already made staff redundant, shuttered two drydocks at its headquarters in Ulsan and closed its Gunsan yard.
Hyundai Heavy’s bid to get 5,000 of its staff to take unpaid leave from tomorrow has sparked the unions into action with calls for a strike.
Hyundai Mipo has closed its smallest drydock, number four. The yard did receive some good news however this week with Bahri Dry Bulk signing for four bulk carriers worth a total of $120m, scheduled for delivery in 2020.