SEOUL, Mar. 8 (Korea Bizwire) — Hyundai Heavy Industries Co. on Friday signed a formal deal with the state-run Korea Development Bank (KDB) to buy its smaller local rival Daewoo Shipbuilding & Marine Engineering Co., heralding the world’s largest shipbuilding group with a some 20 percent market share. Hyundai Heavy became the sole bidder for [...]
SEOUL, Feb. 26 (Korea Bizwire) — Unionized workers at Daewoo Shipbuilding & Marine Engineering Co. went on strike Tuesday in a show of opposition to the planned sale to Hyundai Heavy Industries Co. Last week, workers at Daewoo Shipbuilding approved a walkout against the proposed deal. The shipbuilder’s union said its workers at the Geoje [...]
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 [...]
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 [...]
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 [...]
SEOUL, Oct. 17 (Korea Bizwire) — Unionized workers at Hyundai Heavy Industries Co. staged a partial strike Wednesday to protest a possible pay cut ahead a crucial decision by a labor relations commission, company and union officials said. The unionized workers downed their tools at a shipyard in the industrial city of Ulsan, about 410 [...]
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. [...]
SEOUL, Feb. 22 (Korea Bizwire) — Hyundai Heavy Industries Co., the world’s largest shipbuilder by sales, said Thursday it has received a US$58 million order to build 15 bullet tanks for storing liquefied petroleum gas (LPG) for a Nigerian firm. Hyundai Heavy said it is set to deliver the tanks to Nigeria’s Dangote Oil Refining [...]
SEOUL, Jan. 25 (Korea Bizwire) — Hyundai Heavy Industries Co., the world’s biggest shipbuilder by orders, has received a US$220 million gas carrier order in Kuwait, the company said Thursday. In the order placed by the Kuwait Oil Tanker Co. on Wednesday, Hyundai Heavy will build three very large gas carriers at its shipyard in [...]
SEOUL, Oct. 23 (Korea Bizwire) — Hyundai Heavy Industries Co., a major shipyard in South Korea, said Monday that it has clinched a deal worth 450 billion won (US$397 million) to build five very large ore carriers (VLOCs). Under the deal with Polaris Shipping Co., Hyundai Heavy will hand over the vessels in phases. The [...]