SEOUL, Feb. 1 (Korea Bizwire) — It is expected that a merger between Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. will create massive synergy not only in the South Korean shipbuilding industry, but also in maritime defense. Both companies are listed as major manufacturers of naval vessels and submarines, in charge [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s Hyundai Heavy Industries Group is seeking to buy its smaller rival, Daewoo Shipbuilding & Marine Engineering, industry sources said Wednesday, in what could be a major shakeup in the sector. The country’s top shipbuilder is in talks with state-run Korea Development Bank (KDB), a creditor bank that [...]
SEOUL, March 7 (Korea Bizwire) — South Korean shipbuilders beat their global rivals in February ship orders, bagging more than half of all orders placed, data by Clarkson Research Services showed Wednesday. Local shipbuilders received orders to build 17 vessels in total, accounting for 52.3 percent of overall ship orders placed globally, the research firm [...]
SEOUL, Jul. 24 (Korea Bizwire) – South Korea’s major shipyards, led by Hyundai Heavy Industries Co., are projected to have racked up solid profit during the second quarter of the year, aided by the increased delivery of ships, cost-cutting measures and a rise in new orders, industry sources said Monday. According to the data compiled [...]
SEOUL, July 11 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a troubled shipbuilder in South Korea, said Tuesday that it has delivered a drill ship, the third of five offshore facilities scheduled for this year. Daewoo Shipbuilding won a 620 billion-won (US$539 million) deal to build the drill ship for Transocean of the United [...]
SEOUL, June 5 (Korea Bizwire) – South Korea’s shipbuilders are expected to recover this year after suffering from a global industrywide slump in 2016, observers here said Sunday. Industry watchers said Samsung Heavy Industries Co. clinched deals worth US$4.8 billion coming into this year, which accounts for 74 percent of its annual target of $6.5 [...]
SEOUL, May 31 (Korea Bizwire) – Creditors of cash-strapped Daewoo Shipbuilding & Marine Engineering Co. are set to inject fresh funds into the embattled shipyard next week, later than earlier scheduled, due to the delay in the debt rescheduling scheme, industry sources said Wednesday. According to the sources, the state-run Korea Development Bank-led creditors are [...]
SEOUL, May 17 (Korea Bizwire) – Cash-strapped Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, is set to receive 500 billion won (US$448 million) in fresh loans from its creditors later this month, industry sources said Wednesday. The financial aid, part of the second bailout fund drawn up by its creditors, will be [...]
SEOUL, May 12 (Korea BIzwire) – South Korean shipbuilding companies including Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries are branching out into the Norwegian market, with the trio expected to attend this year’s Nor-Shipping, one of the biggest international shipping exhibitions in the world, which will be held in Oslo [...]
SEOUL, April 17 (Korea Bizwire) – The main bondholder of Daewoo Shipbuilding & Marine Engineering Co. on Monday agreed to the voluntary debt rescheduling measures proposed by the state-run Korea Development Bank (KDB). The National Pension Service Investment Management said it held a meeting of its investment committee and accepted measures to keep afloat the [...]