DSME submit letters of intent by 27th
Creditors of Daewoo Shipbuilding & Marine Engineering Co Ltd are formally seeking bidders for a 50.37 percent stake in the world’s third largest shipbuilder by 27th. Korea Development Bank announced on 21st that companies which have interests in...
STX Shipbuilding managed to pull through capital raising
Kiwoom Securities Co. forecasted returns by saying that STX Shipbuilding’s financing problem is over. An analyst, Choi won-kyung said, “As a result of tender offer to acquire a stake in Norwegian shipbuilder Aker Yards which conducted for four...
Hyundai Heavy Industries’ Humiliation
Hyundai Heavy Industries (HHI)’s shares plummeted to a new 52-week low, with the total market value of 20 trillion won from 40 trillion won in a year earlier. HHI’s price-to-earnings ratio, or PER, nosedived to 9 times and the P/E ratio is low...
Tanker newbuilding market boom
In stark contrast to the bulk carrier market, which showed a sharp decrease in new order for bulkers compared to the previous week, tanker segment showed a steep increase of new orders. This trend has gotten worse in the wake of U.S. intervention...
South Gyeongsang Province, Korean Shipboard Equipment Indust...
According to Korean shipboard Equipment industry report released by Gyeongnam Development Institute’s in South Gyeongsang Province, Korean shipboard equipment industry posted an average annual 34.9 % growth and is expected to edge up 11.5% in impor...
DSME acquisition narrowing down to three-contenders’ battl
As Doosan Group on August 18th abruptly expressed its stance for not participating in the M&A battle for acquiring Daewoo Shipbuilding & Marine Engineering (DSME), the largest deal on the M&A market this year, the number of competitors narrowed down ...
Shipbuilding industry’s mixed economic prospect
There are mixed economic outlook for Korea’s leading shipbuilders. Because new variables such as steel plates’ soaring price and order cancellation is looming large amid the mixed economic outlooks. The different view is not only rooted in ...
VLCC newbuilding cost hitting a record high
A newbuilding price for VLCC appears to be hitting an all time record high, breaching $170 million per vessel. According to foreign media reports, South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) is reported to have clinched four un...
Tramper shipping company’s earnings look up in first half
A major shipping company which has benefited from an upbeat outlook of dry-bulk produced a good result and an increasing number of tanker shipping companies are also seen to be reaping a large amount of sales revenue as a freight rate, especially VLC...
STX acquired a majority stake in Aker Yards
With South Korea’s STX Group, led by STX Shipbuilding, acquiring a majority stake in Norwegian shipbuilder Aker Yards, it appears to have formed a solid ground in exercising a more stable managerial rights. According to securities and related in...
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