DSME ‘5K’ movement: Cost reduction, ‘OK’
Daewoo Shipbuilding & Marine Engineering (DSME) launched a cost-reduction movement called ‘5K’. DSME said it plans to increase the amount of cost reduction by around KRW 500bn or KRW 5,000 (5K) eok (hundred million) (USD 361m) to reach KRW 624...
AEMTC Cooperates with GL for maritime training
A collaboration on advanced maritime training has been agreed between Anglo-Eastern Maritime Training Centre (AEMTC) and GL Academy. The Principal of AEMTC, Capt. K.N. Deboo, Dr Hermann J. Klein, Member of the Executive Board Germanischer Lloyd, ...
Samsung hit by a claim concerning Hebei Spirit
Samsung Heavy Industries has been hit by a $200m compensation claim relating to the Hebei Spirit oil spill. In a statement to the stock exchange in Korea, Samsung said the claim had been brought by the International Oil Pollution Compensation Fund...
Blueprint for S. Korea’s first large-scale repair yard
A rough sketch has been made for the construction of a large-scale ship-repair yard complex and an oil junction/storage base at the Busan New Port in South Korea. According to Busan city, Ministry of Land, Transport and Maritime Affairs (MLTM) of ...
Woo new CFO at STX Europe
Ole Heggheim, Chief Financial Officer and executive vice president of STX Europe, has decided to resign from his position. Byung-Ryun Woo has been appointed as new CFO, and Hans-Jørgen Wibstad has been appointed as senior vice president for Performa...
HHI inks MOU to construct wind power generator mill
Hyundai Heavy Industries builds the largest wind power generator factory in South Korea. HHI on February 2nd announced that it has signed a Memorandum of Understanding with North Jeolla Province for the construction of a wind power generator facto...
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME), after the sale of its controlling stake falls apart, plans to reshuffle its management and organization sooner or later which has been delayed due to the sale procedures. Th...
Putin expects global economy to rebound in late 2009
Russian Prime Minister Vladimir Putin has said that he believes the global economy will start recovering from the current crisis by the end of this year. "We believe elements related to positive development trends will become tangible at the end of t...
Hudong Heavy Machinery
Hudong Heavy Machinery’s current order backlog amounts to 23 million tons and 2008 shipbuilding completion is expected to exceed 5 million tons. 2009 shipbuilding completion will show an increase of 600,000-700,000 tons against 2008, the increase m...
Gazprom, Shell may delay exports of Russia's first LNG ...
Japanese utilities may face a delay in receiving the first liquefied-natural gas cargoes from an OAO Gazprom-led project in Russia, an official said. Sakhalin Energy Co. may start shipments of the clean-burning fuel by March from Sakhalin-2 proje...
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