Gunsan supports HHI & GM Korea partners [General]
Partner companies of Hyundai Heavy Industries (HHI) and GM Korea in Gunsan City, North Jeolla Province, Korea, where they have struggled against a backdrop of the suspension of HHI's shipyard, as well as the closure of GM Korea's factory, receive...
2018-07-11 07:10:47
Chinese yards rearranging debts [Finance]
China Ocean Industry Group, the parent group of Jiangxi Shipbuilding signed a debt restructuring deal with another Chinese yard, Zhejiang Ouhua Shipbuilding. Under the agreement, China Ocean Industry is transferring 40% shares in its fully sub...
2018-07-11 07:10:16
Lawmaker proposes Labor Standards Act revision [General]
A Korean lawmaker proposed a revision of the Labor Standards Act to relax overtime regulation in some industries. The proposed revision would make bypass 12-hour weekly overtime limit possible by ministerial approval and agreement of the labor...
2018-07-11 07:09:42
STX canceled LOI over RG problem [Finance]
It is understood that STX Offshore & Shipbuilding (STX O&S) got one of its signed LOIs canceled due to KDB’s refusal on RG. The industry heard the LOI canceled was for one 50,000-dwt MR with a Taiwanese operator Sincere Navigation. ...
2018-07-11 07:09:14
Korea topped in 1H 2018 [Shipbuilding]
Korean shipbuilding industry topped the global arena in 1H 2018, the first time in three years. According to Clarkson Research, among 12.34m cgt (441 units) of orders placed in 1H, Korea took 4.96m cgt (115 units), or 40% of the total, while C...
2018-07-11 07:08:33
"Chinese shipyards to face limits" [Shipbuilding]
Korean shipbuilders are expected to benefit from poor results of Chinese shipbuilders. Yang Hyung-Mo, a researcher at eBest Investment Securities of Korea, said, "Chinese shipbuilders will not stick to their low price order sales strategy anym...
2018-07-11 07:08:00
"Ties between Korea & India to be strengthened" [Shipbuilding]
Korean President Moon Jae-In, in India on his maiden state visit currently, suggested the '3P +' initiative which combines '3P policy' with 'future-oriented cooperation', expressing his will to build future together with India. Addressing on J...
2018-07-11 07:07:23
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