Finance
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...
2008-09-18 13:44:10
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...
2008-09-15 22:39:44
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...
2008-09-09 10:13:30
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...
2008-09-09 09:55:05
SK Energy considers joining a Consortium
SK Energy considers joining a consortium led by POSCO for acquiring a controlling stake in DSME. An official of SK Energy said on 2nd, “We are currently reviewing on whether to participate in a consortium requested by POSCO as a financial invest...
2008-09-04 10:01:18
Dalian Daeyang Shipping Co. gets $58 million loan
Citibank Korea Inc. recently decided to arrange a $58 million syndicated loan jointly with Hana Bank, Industrial Bank of Korea, Korea Exchange Bank and Kookmin Bank for Dalian Daeyang Shipping Co. Daeyang Shipping Co. from South Korea invested in ...
2008-09-03 09:39:10
Chinese shipbuilding industry entering in medium and long te...
With global shipbuilding industry’s boom starting from 2002, the shipbuilding industry has been showing a super cycle, driven by the emerging market, including China. Hanhwa Securities forecasted in a recent report that due to the global market...
2008-09-02 09:37:39
Mid-size tanker price rise
Amid a New building price for mid-size tanker is on the rise, tanker freight rate succeeded in turnaround. Jo Yong-jun, a researcher at Shinyoung Securities, made a statement that newbuilding price, especially Aframax cost increased $500,000. T...
2008-09-02 09:35:06
Daehan to ask orderer for financial support
South Korea’s Daehan Shipbuilding is reportedly asking ship-orderer (owner) to pay part of ship price earlier. According to foreign news sources, the yard seems to be having a financial difficulty owing to the increase in ship equipment and mate...
2008-09-01 10:41:21
Mounting doubts on HHI
With Hyundai Heavy Industries(HHI)’s emergence in Daewoo Shipbuilding and Marine Engineering(DSME)’s bidding battle as an another hopeful contender in acquiring the majority stake in DSME, a fierce four way battle appears to be entering a more di...
2008-08-29 10:26:55
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