AsiaShipyards

Singapore competition authority greenlights HHI and DSME merger

The Competition and Consumer Commission of Singapore (CCCS) has cleared the proposed merger of Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering.

CCCS concluded that the proposed merger will not infringe the prohibition of the Competition Act following an assessment which included two public consultations and the contacting of 157 stakeholders including competitors and customers. CCCS also engaged various government agencies to gather relevant information necessary for CCCS’s assessment of the proposed transaction.

Currently the proposed merger is still reviewed by The European Commission, the antitrust regulator of European Union, although the review has twice stalled due to the Covid-19 outbreak.

In February, the Japanese government filed a petition at the World Trade Organisation questioning the legitimacy of the merger.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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