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S. Korean Shipbuilders May Bag More Orders After Saudi Oil Attack

S. Korean Shipbuilders May Bag More Orders After Saudi Oil Attack

SEOUL, Sept. 17 (Korea Bizwire) — South Korean shipbuilders may receive more orders following drone strikes on Saudi Arabia’s crude processing facilities, analysts here said Tuesday, as the incident is likely to push up demand for liquefied natural gas (LNG) tankers and offshore facilities. Saudi Arabia shut down about half of its oil production Saturday [...]

3 Major Shipbuilders Accused of Not Duly Paying Subcontractors

3 Major Shipbuilders Accused of Not Duly Paying Subcontractors

SEJONG, Sept. 10 (Korea Bizwire) — Major South Korean shipbuilders have been accused of not duly paying subcontractors for their works, industry sources said Tuesday. The Fair Trade Commission launched probes into Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. over their alleged failures to pay subcontractors between [...]

Shipyards Set to Miss Annual Targets amid Slump

Shipyards Set to Miss Annual Targets amid Slump

SEOUL, Aug. 25 (Korea Bizwire) — South Korean shipbuilders are anticipated to miss their annual order targets in 2019 amid the drawn-out U.S.-China trade dispute and the global economic slowdown, industry watchers said Sunday. The country’s top three shipyards — Hyundai Heavy Industries Group, Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. [...]

S. Korean Shipbuilders Striving to Break GTT Monopoly in LNG Containment Systems

S. Korean Shipbuilders Striving to Break GTT Monopoly in LNG Containment Systems

SEOUL, Jul. 9 (Korea Bizwire) — It’s no secret that South Korean shipbuilders are flying high in the liquefied natural gas (LNG) carrier market, having bagged more than 80 percent of global orders in recent years. But the real winner in the global LNG carrier market is Gaztransport & Technigaz (GTT) S.A., the world’s No. [...]

Shipyards Set to Miss Order Targets for 2nd Year amid Trade Dispute

Shipyards Set to Miss Order Targets for 2nd Year amid Trade Dispute

SEOUL, Jun. 7 (Korea Bizwire) — South Korean shipbuilders may not meet their annual order targets in 2019, industry observers said Friday, as global shipbuilding orders are falling in the face of the escalating U.S.-China trade dispute. South Korea’s three major shipbuilders — Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering [...]

Seoul to Spend More on Struggling Shipyards

Seoul to Spend More on Struggling Shipyards

SEOUL, Apr. 24 (Korea Bizwire) — South Korea’s industry ministry said Wednesday it would spend 70 billion won (US$61 million) to support local shipbuilders’ efforts to recover from an industrywide slump. The Ministry of Trade, Industry and Energy said the newly earmarked spending will center on helping local shipyards tap deeper into the market for [...]