South Korea
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Asia
Hyundai Heavy Industries to cut workforce again and close 20% of the group
Hyundai Heavy Industries is expected to cut its workforce again by around 10% as it restructures after suffering heavy losses incurred…
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Asia
KDB linked with Hyundai Merchant Marine takeover
Korea Development Bank (KDB) has stepped in to save struggling Hyundai Merchant Marine (HMM), multiple outlets in Seoul are reporting.…
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Asia
Baltic Dry Index ends 69-day rally, Pan Ocean capesize fixed on period
The Baltic Dry Index (BDI) dipped two points today to reach 669, ending a rally seen every consecutive trading day…
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Asia
Danaos most exposed if Hanjin Shipping starts to renegotiate contracts
South Korean media is awash with reports that Hanjin Shipping could follow Hyundai Merchant Marine in seeking urgent charter contract…
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Asia
Hanjin Heavy to cease commercial ship construction in Busan
South Korea’s oldest shipyard is to stop building commercial vessels, local shipbuilding news site Asiasis reports. As a part of…
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Asia
Explosion kills one, injures four on Heung-A ship
One Burmese seafarer died and another four were injured when a fire led to an explosion on a Korean-registered ship…
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Asia
Petronas to delay delivery of Samsung Heavy FLNG
South Korean shipbuilder Samsung Heavy Industries (SHI) is bracing itself for another big offshore contract to be delayed. The head…
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Asia
‘I am most concerned with HMM,’ says South Korea’s finance minister
South Korea’s finance minister has warned the nation’s shipping companies they need to get their acts together or else the…
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Asia
Firming dry bulk market sees Dong-A reverse cape sale plans
A seemingly firming dry bulk sentiment seen in recent days, with the Baltic Dry Index surpassing 600 points, has seen…
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Asia
Car carrier runs aground off Busan
A South Korean car carrier ran aground in stormy conditions on Sunday off Busan. The south of the country was…
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Asia
South Korea’s oldest shipyard mulls relocating
South Korea’s oldest existing shipyard might relocate from its central Busan location. Founded in 1937, Hanjin Heavy Industries & Construction’s…
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Asia
DSME takes Angelicoussis suezmaxes from Mangalia
Daewoo Shipbuilding & Marine Engineering (DSME) is pulling the plug on its Romanian subsidiary. The South Korean yard, under pressure…
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Asia
SPP Shipbuilding sells cancelled AHTS to Sevnor
Korea’s SPP Shipbuilding has sold an AHTS vessel, which was cancelled by a shipowner last year, to offshore and special…
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Asia
Chang Myung seeks court protection
Few countries have recorded so many shipping bankruptcies in the last couple of years as South Korea. Chang Myung Shipping,…
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Asia
HMM sells Hyundai Securities stake for $1.1bn
Hyundai Merchant Marine (HMM) has today signed a stock purchase agreement (SPA) to sell its stake in its financial affiliate…
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Asia
Hyundai Heavy hit with $104m tax evasion bill
Hyundai Heavy Industries, South Korea’s largest shipbuilder, has been hit with a tax evasion charge and will have to pay…
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Asia
Hanjin Shipping link scares Korean Air investors
Hanjin Shipping’s precarious financial position has killed off a bonds issuance from parent Korean Air. Investors have shied away from…
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Americas
US fines Korea’s Doorae Shipping nearly $1m for polluting discharge off Hawaii
US authorities on Tuesday fined the owners of a South Korean oil tanker $950,000 after oily bilge water was dumped…
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Asia
Hyundai Heavy tipped to win IRISL boxship trio
The Iranian slew of ship orders are due to get underway very shortly with South Korea’s Hyundai Heavy Industries (HHI)…
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Asia
HMM willing to sell tanker fleet
The fire sale at beleaguered Hyundai Merchant Marine (HMM) continues with news it is willing to sell its fleet of…
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