SEOUL, Nov. 14 (Korea Bizwire) — South Korean shipyards appear upbeat over potential opportunities to expand their business in America after U.S. President-elect Donald Trump’s call for more bilateral cooperation in the sector. In his phone conversation with South Korean President Yoon Suk Yeol following his election victory last week, Trump said the U.S. seeks to work [...]
SEOUL, Jun. 21 (Korea Bizwire) — Hanwha Group said Friday it has invested US$100 million in Philly Shipyard Inc. to acquire a 100 percent stake in the U.S. shipbuilder, marking the first entry of a South Korean company into the U.S. shipbuilding industry. The acquisition involves the group’s two defense units, Hanwha Systems Co. and [...]
SEOUL, May 7 (Korea Bizwire) – Korea Post, which operates under the Ministry of Science and ICT, will collaborate with Samsung Heavy Industries’ Geoje shipyard until the end of the year to help foreign workers in the shipbuilding industry adjust to life in South Korea, the agency announced on May 6. The postal service will provide [...]
SEOUL, Mar. 5 (Korea Bizwire) — Hyundai Heavy Industries Co. said Sunday it will use robots to build ships for the first time in the industry to improve efficiency and cut costs. The world’s largest shipbuilder has recently completed a year of testing of a robotic system that automatically shapes a vessel’s 3-D curved surface [...]
SEOUL, May 10 (Korea Bizwire) – South Korean shipyards came in first in terms of new orders secured in April, with their order backlog continuing to slip, industry data showed on Wednesday. According to the data compiled by global research firm Clarkson Research Institute, Korean shipyards clinched new orders worth a combined 340,000 compensated gross [...]
TONGYEONG, Apr. 27 (Korea Bizwire) — The Tongyeong municipal government said Wednesday it will build a complex of cultural and tourism facilities and a park on the site of a bankrupt shipyard in the port city. ShinaSB has been under court receivership since last year as it was riddled with 1.84 trillion won (US$1.6 billion) [...]
SEOUL, Jan. 4 (Korea Bizwire) – South Korea’s shipbuilding industry is due to be outdone by Japan for the first time in 17 years in order backlog, tentative data from a global research firm indicated Wednesday, overturning its dominance that at one time was 10 times bigger than that of its neighbor. Estimates from Clarkson [...]
SEOUL, Nov. 18 (Korea Bizwire) – Hyundai Heavy Industries Co., a major shipyard here, has cut its order target for the year, joining other smaller local rivals’ move to adjust their annual order targets amid a protracted slump, industry sources said Friday. According to the sources, Hyundai Heavy revised down its order target to US$9.49 [...]
SEOUL, July 29 (Korea Bizwire) – South Korea’s major shipbuilders, led by Hyundai Heavy Industries Co., logged worse-than-expected losses in the second quarter, largely due to the delivery of low-priced ships and a delay in the construction of loss-making offshore facilities, data showed Wednesday. The country’s big three shipyards racked up a combined loss of [...]
Singapore, Mar 28, 2014 (Korea Bizwire) – The biennial Asia Pacific Maritime (APM), one of Asia’s largest and leading maritime shows, concluded with a forward-looking outlook. Three days of bustling business activity on the exhibition floor, including signed deals, announcement of new offices and facilities in Singapore, and the launch of new technology and products among [...]