SEOUL, Dec. 26 (Korea Bizwire) — Samsung Heavy Industries Co., one of the world’s leading shipbuilders, is encouraging its employees to use up their remaining paid vacation days as part of its efforts to cut costs, a company official said Tuesday. More than 4,000 of its employees are scheduled to go on vacation from Tuesday [...]
SEOUL, Dec. 6 (Korea Bizwire) — Samsung Heavy Industries Co., one of the world’s leading shipbuilders, said Wednesday that it will raise 1.5 trillion won (US$1.3 billion) in a rights issue by May to improve its financial status. The capital increase “is aimed at paying corporate bonds and other debts maturing in 2018, as well [...]
SEOUL, Sept. 26 (Korea Bizwire) – Samsung Heavy Industries Co, a major South Korean shipyard, said Tuesday that it has clinched a 1.1 billion-won (US$968 million) deal to build six container vessels. In a regulatory filing, Samsung Heavy said it would deliver the vessels by the end of 2019. The shipyard did not reveal the [...]
SEOUL, April 28 (Korea Bizwire) – Samsung Heavy Industries Co., a major shipyard here, said Friday that its first-quarter earnings more than tripled from a year earlier on cost-saving measures. Net profit reached 58.7 billion won (US$51.6 million) in the January-March period, compared to a profit of 15.9 billion won a year earlier, the company [...]
SEOUL, Jan. 5 (Korea Bizwire) – Samsung Heavy Industries Co., a major shipyard here, said Thursday that it has won a US$1.27 billion deal to build an offshore facility, marking the first mega deal of the year for South Korean shipbuilders struggling to bring in new orders. Under the deal with BP Plc, Samsung Heavy [...]
SEOUL, Dec. 2 (Korea Bizwire) – Global oil prices have rallied this week, and may settle above the US$50 level in the near future, a boon for Korean shipbuilders still struggling with falling new orders, industry sources said Friday. Oil prices continued to rise on Thursday extending their rally to a second consecutive day after [...]
SEOUL, Oct. 28 (Korea Bizwire) – Samsung Heavy Industries Co., a leading South Korean shipbuilder, said Friday it has clinched a 200 billion-won (US$170 million) deal to build three tankers. Under the agreement with Nordic American Tankers Ltd., a Norwegian shipper, it will construct three Suezmax oil tankers of about 157,000 deadweight tons (DWTs) to [...]
GEOJE, South Korea, June 28 (Korea Bizwire) – A group of workers at Samsung Heavy Industries Co., a financially troubled South Korean shipbuilder, voted Tuesday to go on a strike in protest of the management’s restructuring plan. Among a total of 5,396 members of the “labor council,” 4,768 participated in the ballot and 4,382, or [...]
SEOUL, June 15 (Korea Bizwire) – Samsung Heavy Industries Co., a local shipyard, on Wednesday unveiled its detailed self-restructuring program which centers on a cut in workforce and having executives return part of their salaries. Earlier, the shipyard has said it will conduct a self-rehabilitation scheme worth 1.5 trillion won (US$1.27 billion), including asset sales [...]