South Korea
-
Asia
‘Too many cooks’: Drewry’s verdict on THE Alliance
Shipping consultant Drewry has echoed comments made by other analysts on the potentially unwieldy nature of containershipping’s new grouping, THE…
Read More » -
Asia
SPP sale hits a snag
The protracted sale of a yard belonging to SPP Shipbuilding has hit another delay, with Samla Midas Group, the potential…
Read More » -
Asia
DSME to manage state-owned shipyard in Iran
Daewoo Shipbuilding & Marine Engineering (DSME) has signed a memorandum of understanding (MOU) with the Iranian government to run the Iran…
Read More » -
Asia
Tonnage ordered at South Korean shipyards falls by 94% during Q1
A new report has quantified the massive slump in newbuilding activity that has forced most major shipyards in South Korea to restructure…
Read More » -
Asia
DSME boss warns of further job cuts
The ceo of Daewoo Shipbuilding & Marine Engineering (DSME) will announce further restructuring efforts this week as the yard fights…
Read More » -
Asia
Crucial week for HMM as charter negotiations rev up
Six foreign shipowners have been invited to Seoul this coming week for crucial final negotiations as Hyundai Merchant Marine (HMM)…
Read More » -
Asia
Six-year-old cape fetches $38m for Hanjin
Hanjin Shipping has sold a six-year-old capesize, , for $38m to H-Line Shipping as part of efforts to raise cash…
Read More » -
Asia
HMM’s lead creditor comes out in support of orphaned liner
While many might have felt that Hyundai Merchant Marine’s (HMM) exclusion from today’s big box news, the creation of THE…
Read More » -
Asia
THE Alliance formed by Hanjin, Hapag-Lloyd, K Line, MOL, NYK and Yang Ming
Container shipping operators Hanjin, Hapag-Lloyd, K Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Yang Ming have confirmed the creation of a new…
Read More » -
Asia
Hyundai Merchant Marine confident it will join THE Alliance
Hyundai Merchant Marine (HMM), which looks like the loser in the game of container alliances at the moment, has been…
Read More » -
Asia
Hyundai Heavy submits self-rescue plan to its creditors
Hyundai Heavy Industries (HHI) has formalised its self-rescue plans and today submitted the scheme to its creditors, which are being…
Read More » -
Asia
Details of new container alliance emerge
The make up of a third global container alliance has been revealed by the Wall Street Journal. Japan’s Nippon Yusen…
Read More » -
Asia
DSME develops its own LNG containment system
Daewoo Shipbuilding & Marine Engineering (DSME) has finally developed its LNG containment system, potentially saving the Korean yard millions of…
Read More » -
Asia
Hanjin Heavy agrees $1.71bn property sale and cash injection with creditors
South Korea’s Hanjin Heavy Industries has signed a memorandum of understanding (MOU) with its creditors to receive a KRW 120bn ($103m) cash…
Read More » -
Asia
Investigators step up insider trading probe at Hanjin Shipping
The office and home of Choi Eun-yeong, former chairman of Hanjin Shipping, were raided this morning as prosecutors pursue insider…
Read More » -
Asia
Travel ban issued to former DSME execs as fraud investigation hots up
Two former heads of Daewoo Shipbuilding & Marine Engineering (DSME) have been handed a travel ban, as investigators look into…
Read More » -
Asia
HMM debt-to-equity swap plan to be discussed
Creditors next week will start discussing a debt-to-equity swap plan with Korean line Hyundai Merchant Marine (HMM), its lead creditor…
Read More » -
Asia
Dae Sun wins chemical tanker order
Dae Sun Shipbuilding & Engineering from South Korea has won an order from compatriot owner HNCC for a 3,500 dwt…
Read More » -
Asia
Hyundai Heavy readies to mothball drydocks
The world’s largest shipbuilder is readying plans to mothball drydocks as its orderbook dwindles and restructuring beckons. The unprecedented move…
Read More » -
Asia
Debts at South Korea’s troubled big three yards doubled in five years
With South Korea’s big three shipbuilders expected to announce mass layoffs as early as this week, reports of the debts…
Read More »