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Hyundai Heavy-Daewoo Shipbuilding to Double Combined Orderbook for LNG Ships: Data

Hyundai Heavy-Daewoo Shipbuilding to Double Combined Orderbook for LNG Ships: Data

SEOUL, Feb. 19 (Korea Bizwire) — The proposed merger between Hyundai Heavy Industries (HHI) Co. and Daewoo Shipbuilding and Marine Engineering (DSME) Co. is expected to double the value of their outstanding orders for LNG ships to over US$12 billion, industry data showed on Tuesday. Hyundai Heavy, the world’s largest shipbuilder, is set to formally [...]

Hyundai Heavy to Sign Formal Deal to Take Over Daewoo Shipbuilding

Hyundai Heavy to Sign Formal Deal to Take Over Daewoo Shipbuilding

SEOUL, Feb. 12 (Korea Bizwire) — Hyundai Heavy Industries Co., the world’s largest shipyard by sales, is set to buy its smaller local rival Daewoo Shipbuilding & Marine Engineering Co., the state-run Korea Development Bank said Tuesday. KDB said Samsung Heavy Industries Co., a major South Korean shipyard, has stated its intention not to join [...]

Samsung Heavy Unlikely to Join Race for Daewoo Shipbuilding Takeover

Samsung Heavy Unlikely to Join Race for Daewoo Shipbuilding Takeover

SEOUL, Feb. 8 (Korea Bizwire) — Samsung Heavy Industries Co., a major South Korean shipyard, is unlikely to join the race to take over Daewoo Shipbuilding & Marine Engineering Co., as its parent Samsung Group is not interested in further expanding its shipbuilding business, industry sources said Friday. Last month, the state-run Korea Development Bank [...]

Hyundai Heavy Raises 1.2 Trillion Won in Rights Issue

Hyundai Heavy Raises 1.2 Trillion Won in Rights Issue

SEOUL, March 12 (Korea Bizwire) – Hyundai Heavy Industries Co., South Korea’s leading shipbuilder, said Monday that it has raised 1.23 trillion won(US$1.15 billion) in a rights issue. The new shares are set to be listed on the country’s main bourse on March 27. Hyundai Heavy said it will use about 820 billion won in improving its financial status and spend the remainder in research and development for eco-friendly and smart vessels. [...]

Hyundai Heavy Slammed by Work Safety Watchdogs After 11 Deaths

Hyundai Heavy Slammed by Work Safety Watchdogs After 11 Deaths

SEOUL, April 27 (Korea Bizwire) – With 11 Hyundai Heavy Industries (HHI) employees succumbing to injuries caused by work accidents last year, the shipbuilding company is facing criticism as well as the misfortune of being labeled the worst corporation with regard to workplace safety, with some of the harshest critics using the word ‘murder’ to describe [...]