South Korea
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Asia
Former Korea Development Bank chairman linked to DSME fraud scandal
The multi-billion dollar accounting fraud scandal that has rocked Daewoo Shipbuilding & Marine Engineering stepped up a gear today with…
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Asia
STX Heavy enters court receivership
One of South Korea’s largest engine manufacturers has become the latest STX affiliate to seek court protection. At 14.00 local…
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Asia
BW orders VLCC pair at DSME
Singapore’s BW Group has placed orders to build a pair of VLCCs at Korea’s Daewoo Shipbuilding & Marine Engineering (DSME),…
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Asia
Hyundai Heavy turns the corner, back in the black
The world’s largest shipbuilder looks to have turned the corner financially ahead of its Korean peers. Hyundai Heavy Industries today…
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Americas
‘We’ll not entertain the rate reduction’: Gerry Wang remains firm on Hanjin charters
Gerry Wang, the head of Seaspan Corp, has firmly reiterated his stance that he will not budge in charter renegotiations…
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Asia
Gestion Maritime sells its oldest bulker
Monaco-based Gestion Maritime has sold the eldest bulk carrier in its fleet. According to some information coming from broker sources,…
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Asia
Korean Air arrives with Hanjin Shipping rescue package
In what is likely to be another crucial week for the survival of Hanjin Shipping, reports are emerging in Seoul…
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Asia
Sinokor takes Zosco cape pair
Sinokor has taken two seven-year capesizes from China’s Zhejiang Ocean Shipping Co (Zosco). Brokers indicate the Korean player is paying…
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Asia
HMM takes another step towards financial redemption
The path to financial redemption for South Korea’s Hyundai Merchant Marine (HMM) moved ahead yesterday with news the line had…
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Asia
Harvest International Shipping bulker detained in Shanghai
Shanghai Maritime Court has detained Panama-flagged bulk carrier at the request of Shanghai Huiyang Ship Equipment due to unpaid debts…
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Asia
Hanjin Group chairman urged to cough up to help ailing shipping line
Hanjin Shipping’s main creditor has reiterated that the chairman of Hanjin Group needs to cough up cash to help the…
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Asia
Samsung Electronics supports yard with share purchase
Samsung Electronics will buy new shares in Samsung Heavy Industries (SHI) to help the yard’s liquidity crunch. “Samsung has no…
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Asia
Hanjin Shipping expected to be given extra month to get restructuring set
Hanjin Shipping is expected to be given an extra month to get its debt rescheduling program in place. Korea Development…
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Asia
Samsung Heavy linked to giant Indian FSRU contract
A report out by Seoul-based Hi Investment & Securities suggests Samsung Heavy Industries (SHI) is on the cusp of winning…
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Asia
Worker falls to his death at Hyundai Heavy
A 39-year-old worker became the eighth man yesterday to die this year at a yard controlled by Hyundai Heavy Industries…
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Asia
HMM negotiates 20% rate cut with Capital Product Partners
HMM has negotiated a 20% cut in rates for five containerships it has on charter from Capital Product Partners as…
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Asia
KDB seeks new CEO for HMM, might appoint a foreigner for the first time
In its 40th year of existence Hyundai Merchant Marine will sever ties with Hyundai Group on August 5 and belong…
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Asia
Samsung Heavy close to winning first contract of the year
Samsung Heavy Industries’ (SHI) barren spell is likely to come to an end soon. The major Korean yard has been…
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Asia
Hyundai Heavy enters floating power plant business
Korea Midland Power (KOMIPO) has signed a memorandum of understanding (MOU) with Hyundai Heavy Industries to create a floating power…
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Asia
HMM joins Maersk and MSC in 2M
Hyundai Merchant Marine (HMM) has signed on to join the 2M alliance from April next year. HMM will join Maersk…
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