South Korea
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Asia
DSME to issue new shares
Daewoo Shipbuilding & Marine Engineering (DSME) is planning to issue KRW600bn ($507m) in new shares this year in a bid…
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Asia
DSME to let go of 12,000 staff
Financially struggling Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) will slash its workforce by 12,000 to 30,000 by 2019.…
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Asia
Hanjin and HMM told to reduce debts if they want to access state funds
Korean authorities will turn the taps off leading lines until they bring their extraordinary debts under control. The Financial Services…
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Asia
SK Shipping hit by tax evasion claims
SK Shipping is being investigated by South Korea’s National Tax Service (NTS), although it has denied it is facing tax…
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Asia
Korea Eximbank entices lines to order locally
South Korea has moved to kickstart business among its shipyards and shipping lines. The Export-Import Bank of Korea (KEXIM) has…
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Asia
Hyundai Group chair quits HMM role as shares take another massive hit
Shares in beleaguered Hyundai Merchant Marine (HMM) plunged 21% in Seoul today on news that the line will push for…
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Asia
Korean shipbuilding orderbook slides to 10-year low
The order backlog at South Korean shipyards has fallen to its lowest level in 10 years, according to data from…
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Asia
Desperate HMM looks at selling tankers
Business Korea, a Seoul-based portal, is reporting struggling Hyundai Merchant Marine (HMM) is looking to sell off its tanker division…
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Asia
HMM restructuring continues at pace
Under fire officials from South Korea’s Hyundai Merchant Marine communication department have been in touch with Splash to stress that…
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Middle East
Bahri buys VLCC from Hanjin Shipping
The National Shipping Company of Saudi Arabia (Bahri) has confirmed it has signed a memorandum of agreement (MoA) to buy…
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Asia
‘Half-baked rumour’: HMM/Hanjin merger dismissed
Hyundai Merchant Marine (HMM) might be struggling to stay solvent amid mounting debts and urgent due repayments, but it is…
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Asia
Y-Entec in for chemical tanker
South Korean diverse construction conglomerate Y-Entec has headed to Vietnam for a small chemical tanker. The Seoul-listed entity has chosen…
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Asia
HMM merger talk with Hanjin reignites
The pressure on South Korea’s Hyundai Merchant Marine continues to mount with shipping consultant Drewry downgrading the line this week…
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Asia
Hanjin Shipping prepares asset sales to keep afloat
Hanjin Shipping, South Korea’s top carrier, is in discussions to sell more assets as it fights the downturn, according to…
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Asia
SPP Shipbuilding back in business
SPP Shipbuilding is officially back in business. The Korean yard, stymied by creditors from issuing refund guarantees for months, is now…
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Asia
HMM sets mid-March deadline for charter renegotiations
Hyundai Merchant Marine (HMM) has set a date of mid-March to renegotiate rates for its chartered-in fleet. A team is…
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Americas
DSME closes Canadian subsidiary
Struggling South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has closed its metal fabrication facility in Canada as part…
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Asia
DSME can expect no more bailouts this year
A line has been drawn in the sand for one of the world’s top shipyards. The new boss of the…
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Asia
Hyundai Group chair spending $24m to prop up HMM
Hyundai Group chairwoman Hyun Jeong-eun will cough up around KRW30bn ($24.4m) of her own money in a bid to save…
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Asia
STX yard salvation in doubt
The plan to spare STX Offshore & Shipbuilding the chop has hit a speedbump. The yard, once one of the…
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