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S. Korean Shipyards Fare Well in 2018

S. Korean Shipyards Fare Well in 2018

SEOUL, Dec. 24 (Korea Bizwire) — South Korean shipbuilders showed better-than-expected performances this year on a rise in new orders, especially those for LNG ships, industry sources said Monday. The country’s shipbuilding sector, once a cornerstone of the country’s economic growth and job creation, has been reeling from mounting losses in the past few years, [...]

S. Korea Unveils Measures for Troubled Smaller Shipyards

S. Korea Unveils Measures for Troubled Smaller Shipyards

SEOUL, Nov. 22 (Korea Bizwire) — South Korea announced Thursday a package of measures to help ease the hardships of small and midsized shipbuilders that are struggling from a lack of new orders. The shipbuilding industry, once a cornerstone of the South Korea’s economic growth and job creation, has been reeling from mounting losses caused [...]

Retail Sales, Industrial Output Face Slump in Restructuring-hit Regions

Retail Sales, Industrial Output Face Slump in Restructuring-hit Regions

SEOUL, Nov. 15 (Korea Bizwire) — Retail sales and industrial output in restructuring-hit regions remained in a slump in the third quarter, government data showed Thursday. According to the data compiled by Statistics Korea, retail sales in South Gyeongsang Province, North Jeolla Province and Ulsan declined 2.3 percent, 1.2 percent and 1.2 percent, respectively, in [...]

Layoffs in the Cards at Troubled Shipyards

Layoffs in the Cards at Troubled Shipyards

SEOUL, Nov. 13 (Korea Bizwire) — South Korea’s embattled shipbuilding giants may conduct a wave of year-end layoffs in line with self-rescue measures agreed upon with creditors, industry sources said Tuesday. Stung by snowballing losses from tumbling orders and heavy debt, Daewoo Shipbuilding and Marine Engineering Co. (DSME), Samsung Heavy Industries Co. and Hyundai Heavy [...]

“Outsourced Risk” : 80% of Shipyard Deaths Involve Subcontractors

“Outsourced Risk” : 80% of Shipyard Deaths Involve Subcontractors

SEOUL, Sept. 7 (Korea Bizwire) — The causes of large-scale industrial accidents at South Korean shipyards lie in the multi-layer subcontract practice prevalent in the industry, says an investigation committee launched by Ministry of Employment and Labor (MOEL). The committee was formed in response to major accidents in the shipbuilding industry in 2017, including a [...]

S. Korean Shipbuilders Beat Global Rivals in Orders in Q1

S. Korean Shipbuilders Beat Global Rivals in Orders in Q1

SEOUL, Apr. 6 (Korea Bizwire) — South Korean shipbuilders beat their global rivals in ship orders in the first quarter, according to data by Clarkson Research Services. In the January-March period, South Korean shipbuilders clinched orders equal to 2.63 million compensated gross tons (CGTs) to build 52 vessels. This accounted for 42.2 percent of ship [...]

S. Korean Yards Hold Largest Order Backlogs Among Global Shipbuilders

S. Korean Yards Hold Largest Order Backlogs Among Global Shipbuilders

SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s leading shipyards had the top three order backlogs among global shipbuilders at the end of 2017 due mainly to work received before the worldwide drop in demand, industry data showed Sunday. According to Clarkson Research’s latest World Shipyard Monitor, Daewoo Shipbuilding and Marine Engineering Co. (DSME) Okpo, [...]

Live Lizard Discovered in Shipping Container Raises Questions Over Cargo Screening

Live Lizard Discovered in Shipping Container Raises Questions Over Cargo Screening

ANSAN, Oct. 18 (Korea Bizwire) – Emergency quarantine protocols were put in place at the Port of Busan after foreign red fire ants were discovered at a nearby open-air yard for shipping containers late last month.  Questions over whether the protocols need to be expanded have been raised after a live lizard was discovered inside [...]