General
Hyundai boxship quartet canceled
Korea's Hyundai Heavy Industries announced that it had decided to cancel the contract for four large boxships ordered by an European shipowner. The termination amount is KRW 477bn ($426m). The company said, "this is due to a cancelation reque...
2011-01-03 08:35:53
Hyundai boss predicts fierce competition
Dr. Min Kye-sik, representative director and chairman of Korea's Hyundai Heavy Industries, cast an outlook on the future shipbuilding industry in the year-end bash on 31st December last year, as saying, "due to the worldwide glut of ships, falling sh...
2011-01-03 08:24:50
Dalian Port abandons two boxships
On December 19th, Dalian Port of China issued announcement that it decided to abandon purchase project for two boxships. The previously collected funds would be used in port construction. Originally, Dalian Port intended to buy two 3,000TEU boxshi...
2010-12-30 13:57:37
Hanjin labors in all-night demonstration
1,100 workers at Youngdo Shipyard of Korea's Hanjin Heavy Industries & Construction have started holding an all-night demonstration inside the yard factory from 28th to 31st December. Hanjin Heavy Industries & Construction Branch of the national ...
2010-12-30 11:44:33
Hyundai marks 58% growth in new orders
Korea's Hyundai Heavy Industries revealed that its total of new orders for the first 11 months of this year reached $16.597bn, increasing by 58.2% compared to the total of $10.491bn from the same period of last year. In terms of new order values by e...
2010-12-30 09:45:43
Jobs cut at STX Europe
180 jobs are being cut at STX Europe’s Turku facility in Finland, Juha Heikinheimo, president and chief executive of STX Finland Oy said. These job losses are comprised of redundancies and some employees taking pensions, media reports in Finland...
2010-12-30 08:48:32
STX issues massive promotion
Korea's STX Group, which will celebrate the 10th anniversary of its launch in 2011, has carried out a regular promotion in the largest scale in the company's history for overall 116 executives. In the promotion conducted today, three people were ...
2010-12-29 15:53:04
No holidays for Korean shipbuilders
As a fast recovery in new order intake brings about a big amount of workload, no shipbuilders in Korea can have extra holidays for the New Year's day which falls on a weekend. According to industry sources, large shipbuilders, such as Hyundai Hea...
2010-12-29 10:26:19
Alang ship breakers end strike
The four day long strike by ship breakers at Alang, Asia’s largest ship breaking yard ended on Friday evening after the representatives of ship breakers met officials of central excise and other departments concerned to discuss their problems. The ...
2010-12-29 08:33:48
"Hanjin will save Youngdo at any cost!"
Korea's Hanjin Heavy Industries & Construction management revealed its stance on the recent workforce restructuring in the shipbuilding sector yesterday. Hanjin announced its staff reduction plan against 400 production workers in the shipbuilding...
2010-12-29 07:26:02
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