Yangzijiang Shipbuilding's net up 45% [Finance]
Profits for Yangzijiang Shipbuilding grew 45% last year to hit an all time high. The Singapore-listed, Chinese shipbuilder reported a net profit of RMB2.29bn ($335m) for 2009 up 45% from RMB1.58bn in the previous year. Net income jumped 63% i...
2010-02-24 08:10:59
KOSA holds general meeting [Equipment]
The Korea Iron and Steel Association (KOSA) (chairman: Jung Jun-yang) held the 43rd regular general assembly at steel club at POSCO center, Seoul at 11AM on Feb. 23rd, to settle 2010 business plan and budget. According to the business plan, KOSA d...
2010-02-24 07:27:58
Governor offers selective supports [Finance]
The Ministry of Knowledge Economy (MKE) of Korea announced on Feb. 23rd that it will provide selective supports to cope with depression of shipbuilding industry which is one of major industries of Korea. The ministry said at conference for examina...
2010-02-24 07:25:50
HMD busy & profitable until 2012 [Shipbuilding]
Hyundai Mipo Dockyard (HMD) of Korea is expected to make the most stable profit by solely securing works by the end of 2012 among listed Korean shipbuilders. Jeon Jae-cheon analyst of Seoul-based Daishin Securities said, "HMD is the only domestic ...
2010-02-24 07:22:45
General strike notice at Hanjin [General]
The labor union of Korea’s Hanjin Heavy Industries & Construction, which has been in confrontation with the management over the large-scale layoff, has decided to go on a general strike on Feb. 26th. The union announced on Feb. 23rd that it will ...
2010-02-24 07:19:56
Keys to successful DSME M&A [Finance]
Of some big ones in the process of M&A this year, Daewoo Shipbuilding & Marine Engineering (DSME) is attracting much attention. The time is ripe for discussing the second bid for DSME after the attempt of Hanwha Group to take over the DSME ended ...
2010-02-24 07:17:13
Chicken game looming [Shipbuilding]
Korean shipbuilders who are suffering from a severe order drought are trying hard to find the ways to get over the difficulties by restructuring themselves and relocating their workforce. But their efforts are viewed as short-term measures. If th...
2010-02-24 07:14:10
Hyundai pens $1.4bn Myanmar project [Offshore]
Hyundai Heavy Industries held a formal signing ceremony on Tuesday for the $1.4bn Myanmar SHWE gas field project. The ceremony was attended by Hyundai Heavy president Oh Byung-uk, Daewoo International president Kim Jae-yong, etc. The project is...
2010-02-23 14:14:18
CSBC focuses on ship repairing [General]
CSBC Corporation, one of top shipbuilders in Taiwan, recently expressed optimism on upcoming market. Mr Zheng Wenlong, chairman of CSBC, expressed that the spring would not be far away for shipbuilding industry, at least for the group itself. C...
2010-02-23 12:32:43
Pakistan receives China-built FFG [Equipment]
The second guided missile frigate (FFG) built by Chinese builder has formally joined Pakistan’s navy recently. The chief of staff from the country’s navy expressed that Pakistan had imported two F-22P type FFGs from China while the third one w...
2010-02-23 12:31:41
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