Growing effects of financial insecurity
Global monetary stringency shows its ripple effect gradually on the shipbuilding industry all over the world. Two shipyards in Germany have filed for insolvency due to insufficiency in their operating funds, and the financing problem in South Kore...
KDB to rein the tongues of takeover candidates of DSME
Prior to the regular bid for DSME, scheduled for October 13, Korea Development Bank started to rein the takeover-candidates’ tongues. According to the industry sources, KDB, after sending regular bid proposals, forwarded an official document ag...
Attracting foreign capital will be the essential factor in u...
Bidding battle in undertaking Daewoo Shipbuilding & Marine Engineering (DSME) is now almost over as the preliminary actual inspection which started September 16 is now getting into the second week. The inspection continues for 3 weeks till Octob...
SHI’s technological prowess makes it remain competitive
Goodmorning Shinhan Securities recently announced that Samsung Heavy Industries’ (SHI) global technological competitiveness would not falter, and made a downward readjustment on their stock target to KRW 41,300, remaining their investment suggestio...
DSME’s subsidiaries in KRW 1 trillion deficit - acquisitio...
Improperly-run enterprises, affiliated with Daewoo Shipbuilding & Marine Engineering, have arisen as a new factor in DSME bidding battle. Those troubled subsidiary companies are showing a loss of some KRW 1 trillion and the four acquisition candid...
KDB says, “Foreign capital, not a preferential condition i...
Korea Development Bank (KDB), the biggest stock holder of Daewoo Shipbuilding & Marine Engineering (DSME), announced that the ratio of foreign capital will not be a privilege in the process of forming an acquisition consortium. “There will neith...
Lehman’s filing for bankruptcy, direct hit on shipbuilding...
After Lehman Brothers’ filing for bankruptcy, global shipbuilding industry is keeping anxious watch on financial unrest and monetary stringency. The possibility of tighter financing is arising internationally, shipowners seem to be going to hav...
Actual inspection of DSME from September 16
The enterprises which participated in the bidding war for Daewoo Shipbuilding & Marine Engineering (DSME) will make a preliminary actual inspection of the South Korean shipbuilder since September 16. The actual inspection will take place for about...
Shipbuilding industry, unreasonable accounting method leads ...
Shipbuilding industry appears to be in trouble with an unreasonable accounting standard. Shipbuilders’ debt to equity ratio soared to 1,500 percent lately which stood at 400 percent in June 2007. Daewoo Shipbuilding & Marine Engineering (DSME...
Shipbuilding industry’s steel plate price up, ship price d...
Korean Investment Securities downgraded an outlook for ship related stocks to neutral. Kang Young-il, an analyst at Korea Investment & Securities said as of Sep 3rd, “Price for newbuilding is forecast to be spiraling downward after reaching a pe...
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