HHI-KDB signed conditional MOU for DSME consolidation [General]
KDB announced on January 31 the bank signed a conditional MOU for M&A transaction between Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME) KDB explained that the deal had been pursed privately as it en...
2019-01-31 16:30:16
HHI and KDB sign 'Shipbuilding Consolidation' agre... [Shipbuilding]
Hyundai Heavy Industries Group revealed today that the company has signed a basic agreement with Korea Development Bank for 'Shipbuilding Consolidation Corporation Establishment'. HHI Group explained that it would attract investment by the sta...
2019-01-31 16:25:19
"HHI's move to buy DSME is industrial reshuffle" [Shipbuilding]
Regarding Hyundai Heavy Industries (HHI) that has recently been moving to take over Daewoo Shipbuilding & Marine Engineering (DSME), Choi Jong-gu, Chairman at the Financial Services Commission (FSC) of Korea, noted on January 31, "Things depe...
2019-01-31 15:56:13
Acquisition LOI under review for Orient Shipyard [Shipbuilding]
The disposal of Orient Shipyard’s Gwangyang Yard is trying another round this time. The yard is one of the largest repair yards in Korea, and multiple disposal attempts were made since 2014 to repay debts. It is said that a Korean securities...
2019-01-31 15:22:13
POSCO poised to raise thick plate price [General]
POSCO revealed an intention to raise thick plate price. A high official at POSCO commented on January 30 at Q4 2018 earnings call that “compared to other industries, shipbuilding is on track of recovery... we are considering a markup of thic...
2019-01-31 15:04:41
DSME picks up new talents [General]
Daewoo Shipbuilding & Marine Engineering (DSME) recently recruited 58 college graduates for the first time in four years. The company has hired no college graduates since 2014 during its management crisis. At the end of 2018, the compan...
2019-01-31 14:35:54
Greeks behind HHI’s first VLCC deal this year [Shipbuilding]
It seems a Greek owner is behind the 2+1 VLCC deal Hyundai Heavy Industries (HHI) Group recently won from ‘a European owner.’ Sources told that Evalend Shipping of Greece has made the deal worth around KRW320bn. Lloyd’s List reported ...
2019-01-31 14:13:56
HHI union postpones vote on tentative agreement [General]
Hyundai Heavy Industries (HHI) union postponed the vote on the tentative wage agreement which had been scheduled on January 31, in a surprise caused by HHI’s Letter of Intent for the acquisition of Daewoo Shipbuilding & Marine Engineering (...
2019-01-31 14:00:13
Alfa Laval PureSOx scrubber systems – 10 years at sea [Equipment]
The arrival of 2019 leaves just one year until the global sulphur cap becomes reality. But as the marine industry scrambles to ready itself, an important milestone has already been reached. The new year marks a decade since the first vessel set s...
2019-01-31 11:43:43
First design for pure-electric tanker completed [Shipbuilding]
Asahi Tanker Co. Ltd, together with its partner Exeno-Yamamizu Corporation Tokyo, has jointly developed the new domestic shipping tanker design which incorporates “zero emission electric propulsion”. In anticipation of future adaptations t...
2019-01-31 11:13:45
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