DSME got penalty for unfair subcontract [Shipbuilding]
Korea Fair Trade Commission (KFTC) announced on December 6 that it is imposing KRW206m of fine and issuing correction order on Daewoo Shipbuilding & Marine Engineering (DSME) for the delayed issuance of subcontract document after the commence...
2017-12-08 07:16:33
Olympic exercises VLCC option at HHI [Shipbuilding]
Olympic Shipping and Management of Onassis Group turn to have exercised an option for additional one VLCC at Hyundai Heavy Industries (HHI). According to foreign media and industry, the option was attached to previous two 319,000dwt tankers or...
2017-12-08 07:16:00
"No more small yard coursing" [Shipbuilding]
Congressman Kim Kyung-Soo, a member of the Minjoo Party of Korea, has urged the government to come up with responsible countermeasures for shipbuilding industry, noting, "The financial world's discussion on the liquidating and existence values of...
2017-12-08 07:15:28
"SHI faces limit on strategies" [General]
Regarding Samsung Heavy Industries' recent announcement regarding the prospect of losses and a plan to increase its capital by KRW 1.5trn (approximately $1.37bn), a Korean industrial expert commented, "Such a result has been driven by Samsung's e...
2017-12-08 07:14:11
ASEF gains consultative status from IMO [General]
The Active Shipbuilding Experts' Federation (ASEF) gained consultative status in the 30th Session of the International Maritime Organization's (IMO's) General Assembly on December 6. With this, ASEF has had rights to submit agenda document and sp...
2017-12-08 07:13:03
Korea-Indonesia shares maritime expertise [General]
Busan Metropolitan City and The Offshore & Shipbuilding Engineering Cooperative of Korea (KOSEC) is holding ‘Korea-Indonesia maritime technology exchange’ on December 7 at Jakarta, Indonesia. The exchange is in line with Korean governm...
2017-12-08 07:12:37
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