South Korea
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Asia
HMM denies Hanjin merger talk
Hyundai Merchant Marine yesterday issued a statement to the Korea Exchange dismissing reports that it would merge with fellow Korean…
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Asia
Samsung Heavy rocked by another drillship cancellation
In another hammer blow to a Korean mega yard Pacific Drilling has torn up the contract for the ultra-deepwater drillship…
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Asia
KDB keen to offload DSME majority stake
Korea Development Bank (KDB), Daewoo Shipbuilding & Marine Engineering’s (DSME) main creditor, is looking to offload its controlling stake in…
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Europe
Vitol orders three suezmax tankers
Vitol has ordered three suezmax crude tankers from South Korea’s Sungdong shipyard for $66m each, brokers tell Splash. The 158,000-dwt…
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Asia
Fred Olsen Energy cancels disputed HHI rig contract
In an ongoing spat between Fred. Olsen Energy and Korean mega yard Hyundai Heavy Industries (HHI), a rig contract has…
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Asia
SPP employees warn yard could close from lack of orders
SPP Shipbuilding, one of the world’s leading builders of MR tankers, could close by the end of next year unless…
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Asia
DSME’s union bows to its creditors’ demands
Daewoo Shipbuilding & Marine Engineering (DSME) could be about to get extra funds from its creditors after the shipyard’s union…
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Asia
Bahri buys VLCC duo
Saudi Arabia’s Bahri has purchased two 321,200-dwt VLCCs from Daewoo Shipbuilding & Marine for $78m each after the vessels failed…
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Asia
Korea Inc comes in to provide refund guarantees for DSME
At the behest of South Korea’s deputy prime minister a number of the nation’s top financial institutions have come together…
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Asia
Navig8 Chemical orders four chemships at STX
Navig8 Chemical Tankers has ordered four 49,000-dwt IMO II chemical tankers from STX Offshore & Shipbuilding in South Korea. Six…
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Asia
Daehan Shipbuilding exits rehab
Korean shipyard Daehan Shipbuilding has exited rehabilitation after just over one year. A court in Seoul yesterday decided the yard…
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Asia
SK Shipping seeks financing for four LNG carriers
SK Shipping, the South Korean tanker giant, has made requests for proposal to around 20 local and foreign banks to…
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Asia
Dae Sun closes in on annual target with raft of orders
South Korean small boxship specialist Dae Sun Shipbuilding & Engineering is expected to nail down a series of orders soon.…
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Asia
Overseas losses add to DSME’s woes
Another huge hole in the accounting books of South Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) is likely to…
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Asia
Seoul reticent on who will run STX’s shipyards
Korean shipbuilding musical chairs has set the rumour mill into overdrive. Seoul’s ambition to streamline the number of shipbuilders in…
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Asia
More losses on the cards at DSME
More unexpected losses at Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) cannot be ruled out, its lead creditor warned…
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Asia
Dispute follows bulk carrier that hit a North Korean fishing vessel
A South Korean bulk carrier collided with a North Korean fishing vessel on October 1, but did not feel it…
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Asia
HMM readies bonds in urgent liquidity drive
Korean shipping lines are going all out to drive up liquidity at the moment, reshaping the cores of many famous…
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Asia
Hyundai Glovis wins $500m COA from Qatar
Qatar Primary Materials Co (QPMC) has contracted Hyundai Glovis to carry 50m tons of aggregates from the UAE and Oman…
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Asia
Navibulgar tipped to take on two more handy bulk carriers
Samsun Logix Corporation is trimming its smallest bulkers from its fleet list. Brokers report the Korean company, which is going…
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