HHI-KDB signed conditional MOU for DSME consolidation
KDB announced on January 31 the bank signed a conditional MOU for M&A transaction between Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME) KDB explained that the deal had been pursed privately as it en...
POSCO poised to raise thick plate price
POSCO revealed an intention to raise thick plate price. A high official at POSCO commented on January 30 at Q4 2018 earnings call that “compared to other industries, shipbuilding is on track of recovery... we are considering a markup of thic...
DSME picks up new talents
Daewoo Shipbuilding & Marine Engineering (DSME) recently recruited 58 college graduates for the first time in four years. The company has hired no college graduates since 2014 during its management crisis. At the end of 2018, the compan...
HHI union postpones vote on tentative agreement
Hyundai Heavy Industries (HHI) union postponed the vote on the tentative wage agreement which had been scheduled on January 31, in a surprise caused by HHI’s Letter of Intent for the acquisition of Daewoo Shipbuilding & Marine Engineering (...
ExxonMobil advancing Gas-for-Power in Vietnam
ExxonMobil, with joint venture partners PetroVietnam and PetroVietnam Exploration Production Corporation, said today that it is advancing plans for a multi-billion dollar integrated gas-for-power development in central Vietnam. The company has aw...
DSME makes early payment before holidays
Daewoo Shipbuilding & Marine Engineering (DSME) is to pay around KRW30bn to its suppliers earlier than scheduled before Lunar New Year's Day. The original due date had been February 11, and DSME is to make the payment by January 31, which ...
HHI surprises market, expressing an intention to buy DSME
Hyundai Heavy Industries (HHI) Group has revealed its intention to buy Daewoo Shipbuilding & Marine Engineering (DSME). Sources told on January 30 that the Group had sent Letter of Intent for acquisition of DSME to KDB, the controlling sha...
HHI reaches 2nd tentative wage agreement
The labor and management of Hyundai Heavy Industries (HHI) reached a new tentative agreement on 2018 wages on January 29. The agreement includes △raising basic pay by KRW 45,000 △stabilizing employment by the end of 2019 △setting a level...
Explosion onboard Aframax tanker at Tuzla yard
Fire erupted in a boiler room of Aframax tanker LR2 POSEIDON on January 28 in Tuzla Ship Repair Yard, where tanker was undergoing maintenance repairs. Fire was preceded by an explosion which injured 10 workers, and killed two. Fire fighters...
Survitec received DNV GL approval
Survitec has received DNV GL Z-17 certification as a class-approved service provider for all DNV-GL classed vessels operating various brands of safety and survival equipment, including lifeboats, liferafts, marine evacuation systems (MES) and fir...
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