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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 [...]

S. Korean Shipbuilders Fare Well on Surge of LNG Carrier Orders

S. Korean Shipbuilders Fare Well on Surge of LNG Carrier Orders

SEOUL, Dec. 9 (Korea Bizwire) – South Korea’s major shipyards have shown decent performances this year on the back of a surge in orders to build LNG carriers, industry data showed Sunday. For the year up to Thursday, 52 orders for LNG carriers were received by local entities, with Hyundai Heavy Industries Co. bagging the [...]

Shipbuilder Woes Caused by Drop in Work, Compounded by Labor Standoff

Shipbuilder Woes Caused by Drop in Work, Compounded by Labor Standoff

SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s major shipbuilders’ troubles caused by drop off in work are being exacerbated by an ongoing labor-management standoff that may further complicate efforts by shipyards to get back on track, industry watchers said Sunday. Hyundai Heavy Industries Co. (HHI), Samsung Heavy Industries Co. and Daewoo Shipbuilding and Marine [...]