AsiaShipyards

South Korean engine makers merge 

Photo of Sam Chambers Sam ChambersAugust 1, 2023
2,105 Less than a minute

South Korea will have a new mega marine engine manufacturer with news today that HD Korea Shipbuilding & Offshore Engineering (KSOE), the parent of Hyundai Heavy Industries, is acquiring STX Heavy Industries. 

KSOE is paying $65.1m to Pine Tree Partners to take a 35% stake in the rival engine maker. 

KSOE joined the race to acquire STX last December, alongside local engine maker HSD Engine and an undisclosed overseas company.

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Photo of Sam Chambers Sam ChambersAugust 1, 2023
2,105 Less than a minute
Photo of Sam Chambers

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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