KFTC virtually lost appeal against Sungdong
It turned out that the Supreme Court of Korea has virtually decided in Sungdong Shipbuilding & Marine Engineering's favour in an appeal for correction order and penalty surcharge, which were issued by the Korea Fair Trade Commission (KFTC) to...
HHI union go on partial strike
The Korean Metal Workers’ Union (KMWU)’s HHI branch went into a partial strike from August 27 to express oppositions to the voluntary retirement program. The union would rally for three days during August 27 to 29, which is the second time...
KR leading IACS in the age of transition
“It is of great significance that KR assumes chairmanship of IACS in an age of transition in the maritime industry.” Lee Jeong-kie, Chairman of the Korean Register of Shipping (KR), said at the press conference held at the Korean Press Cen...
HMD sells its all shares in HHI
Hyundai Mipo Dockyard (HMD) has sold all of its stakes (3.9%) in Hyundai Heavy Industries (HHI) through a block sale (block deal) in order to relieve the structure of cross-shareholding. With this, the company has raised cash of about KRW 318bn (...
Aberdeen abandons Korean campus plan
Scotland's University of Aberdeen has finally abandoned a plan to open its campus in Korea after postponing the project by three times due to recession in offshore plant market and difficulty in accepting students. since August 2016 when it obtai...
Shearwater to acquire Schlumberger Marine Seismic
Shearwater GeoServices Holding AS and Schlumberger jointly announced on August 22nd, 2018 that they have entered into a definitive agreement for Shearwater to acquire the marine seismic acquisition assets and operations of WesternGeco, the geophy...
HHI Group completed holding company transition
Hyundai Heavy Industries (HHI) Group finally finished its shift to holding company system which started back in late 2016. HHI and Hyundai Samho Heavy Industries (HSHI) boards decided on August 22 to divide HSHI into investment body and operat...
Wärtsilä opens new Smart Technology Hub
Wärtsilä is building the Smart Technology Hub, a new centre of research, product development and production, in Vaskiluoto, Vaasa. As of 2020, all of Wärtsilä's functions and personnel in central Vaasa will transfer to the new hub, along with...
HHI-HSHI go divided combination
Hyundai Heavy Industries (HHI) and Hyundai Samho Heavy Industries (HSHI) boards decided to go divided combination to solve governance problems. The boards of the two companies decided on August 22 to divide HSHI into investment body and operat...
SMM: Towards a clean future
Low-sulphur ship fuel, decarbonisation, ballast water management: Stricter international emission limits have moved environment protection to the top of the maritime industry’s agenda. The topic will also feature prominently at SMM, the indus...
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