General
No recession here: Alang ship-breaking yard
The global slump in the shipping industry is turning out to be boon for the ship breaking industry in Alang, where around 60 vessels have arrived for scrapping from December 1 to January 15. According to people associated with the industry, aroun...
2009-01-20 07:28:43
Hyundai "No.1": World’s First-class Products
Hyundai Heavy Industries (HHI) has become the company which has the largest number of ‘World’s First-class Products’ in South Korea. HHI has secured additional World’s First-class Product certificate for its six products from the Ministry ...
2009-01-20 06:35:51
Hudong-Zhonghua: No hit by Cancellation
Costamare Shipping's cancellation of three post-panamax boxships at Hudong-Zhonghua Shipbuilding will have little effect on the shipyard's production schedule. A source familiar with Hudong claims that the cancellation of the three 8,500-teu vessels ...
2009-01-19 09:39:19
Posco has no interest in Daewoo
South Korean steelmaker Posco won't acquire a controlling stake in Daewoo Shipbuilding & Marine Engineering, Posco's chief executive said last thursday. "We have no interest in buying the shipbuilder," Lee Ku-taek told analysts and reporters afte...
2009-01-19 09:06:56
STX Europe to lay off 1,060
STX Europe is seeking to lay off more than 1,000 workers at its Turku Shipyard in Finland. The former Aker Yards, now Korean controlled, has started talks with unions on the redundancies, which will hit both metal workers and office personnel. ...
2009-01-19 07:36:34
GL buys Singaporean oil and gas firm
Singapore-based "International Refinery Services Pte Ltd" (IRS) is the latest addition to Germanischer Lloyd (GL). With the acquisition of the asset management expert company, the GL Group is expanding its service portfolio for the petroleum, oil and...
2009-01-19 07:28:20
Samsung shakes up executive
Kim Jing-wan, presidents of Samsung Heavy Industries was promoted to vice chairman. The Samsung Group last friday carried out its biggest-ever shakeup of top management in a move seen as aiming to form younger leadership to weather the global eco...
2009-01-17 10:39:26
Shipbuilders contribute to employment retainment in Korea
Amid global economic recession and increasing job cuts, workers at South Korea's shipbuilding companies are facing little risk of job losses. According to the data from Tongyeong Employment Assistance Center under Ministry of Labor, released on Ja...
2009-01-16 15:49:39
A record high 2008 for Posco
Posco saw its fourth-quarter operating profit sink 30 percent compared to the third quarter due to the financial crisis, while annual results for 2008 including operating profit, net profit and sales were all record highs. The world’s fourth big...
2009-01-16 07:47:01
‘Hebei Two’ out of prison on bail
The Supreme Court of the Republic of Korea has granted bail to the two seafarers entangled in the Hebei Spirit case and released then from prison. This announcement has led to the cancellation of a rally in support of Captain Jasprit Chawla (pictured...
2009-01-16 07:19:29
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