Consortium for bidding of DSME confirmed
The consortium for bidding candidates for Daewoo Shipbuilding & Marine Engineering (DSME) and strategic and financial investors is confirmed, as the regular bidding date approaches. Bidding candidates should submit the final proposal for the conso...
DSME Merger will be named soon
The regular bidding for Daewoo Shipbuilding & Marine Engineering (DSME) will take place on Oct 13 as scheduled and priority negotiator is expected to be named on 25 at the earliest. According to industry sources, DSME acquisition candidate compani...
Special committee for shipbuilding business
Politics started to help with financial problem of the medium-sized shipyards in South Jeolla province, South Korea, which stopped some of their operation of factory due to their cash flow problem. A Democrat, Dong-Cheol Kim said, “A special com...
Bidding war for DSME going into mist
National Pension Service (NPS) declared they will not participate in the bidding competition for Daewoo Shipbuilding & Marine Engineering (DSME). On May 2, NPS was going to choose a consortium to attend by opening a committee meeting, however, it...
Vietnam approves loans for Vinashin
Vietnam News Agency reported that Mr Nguyen Sinh Hung deputy prime minister of Vietnam has allowed the Vietnam Shipbuilding Industry Group to access financial resources totaling more than USD 1.18 billion to realize its key projects. Of the funds,...
C&HI withdrew the plan to sell its steel business
South Korea’s C& Heavy Industries, known to be having cash problems recently, failed in the plan to sell its steel business department, which was aimed to secure liquidity. C&HI announced September 30, “We had decided to sell our steel busines...
STX consider Ship Financing Business
STX group is known to reconsider undertaking shares of a European financial firm specialized in shipping and shipbuilding. According to the TV Korea’s Economy, the executives of STX group are reconsidering undertaking a European financial firm ...
Crisis of emerging shipyards
Newly-rising Asian shipyards, especially South Korean and Chinese shipyards, which are to be constructed or being constructed, are being greatly affected by the global financial crisis. Recently, on the basis of the prosperity in newbuilding marke...
DSME ESOA to form the consortium
The recent peddling trip of DSME employee stock ownership association (Union President, Seongtae Gwon, the employee stock ownership association ) who declared to participate in the company’s sale through formation of a consortium has been brought i...
State export insurer actively supports shipbuilding
Korea Export Insurance Corporation (KEIC) announced September 27 that it has decided to provide KRW 1.39 trillion of export insurance for six ultra-large high value-added vessels to be constructed by domestic shipyards. The six ships are reportedl...
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