Daewoo Engineering & Construction (Daewoo E&C) announced on July 13 that it received the Excellence Award for Integrated Management System from the British Standards Institute (BSI) Asia Pacific on July 12.The award is offered by BSI to companies that achieved an excellent performance based on an in
Korea Shipbuilding & Offshore Engineering (KSOE) has won orders for 10 large liquefied natural gas (LNG) carriers worth a total of 2,869 billion won. The latest deal boosts the shipbuilder's order intake this year to 34 LNG carriers, the largest number in the world.KSOE announced on July 7 that
The authors are analysts of Shinhan Investment Corp. They can be reached at sehunjang@shinhan.com and shawn1225@shinhan.com, respectively. -- Ed. 2Q22 preview: Earnings to exceed market consensus as in 1Q22Daewoong Pharmaceutical is expected to have generated operating profit of KRW30.1bn (+12.8% Yo
Korean shipbuilders' order intake in the first half of 2022 reached 9.79 million CGT valued worth US$26.5 billion, accounting for 45.5 percent of the global total of 21.53 million CGT. Korea regained the world’s No. 1 position in four years since 2018.The figure represents the highest order inta
The war in Ukraine is having lingering effects on South Korean enterprises, including shipbuilders and automakers.Daewoo Shipbuilding & Marine Engineering signed a contract with a Russian shipowner in October 2020 to supply three LNG carriers. One-third of the contract was canceled in May this year,
Global orders for LNG carriers totaled 7,678,585 CGT (89 standard ships) in the first half of this year, according to Clarkson Research, a British shipbuilding and shipping market analysis agency. The figure represented a 416 percent increase from 148,6795 CGT or 18 standard ships in the first half
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com. -- Ed. July top picks: Celltrion Healthcare, Daewoong Pharmaceutical, Alteogen, Dongkook Pharmaceutical, Dentium, and LegoChem BiosciencesThree investment strategies and top picksOur healthcare sector
Daewoo Shipbuilding & Marine Engineering (DSME) announced on June 30 that it has canceled a contract for an LNG carrier under construction as the European shipowner failed to make the interim payment within the due date.Industry insiders believe that the vessel is an icebreaking LNG carrier to be us
Clarksons Research announced on June 29 that a total of 108 LNG carriers were ordered in the first half of this year. The figure is an all-time high, exceeds last year’s total, 86, and increased even with the overall new ship orders on the decline in that period.More than half of the orders went to
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In May, nationwide pre-sale volume amounted to 17,000 units, with a subscription ratio of 7:1. Although the number of undersubscribed pre-sale sites remained similar m-m at six, subscription rati
Daewoo Engineering and Construction (Daewoo E&C) announced on June 27 that it won an oil refinery quick fix project from Warri Refinery & Petrochemical Co. (WRPC), a subsidiary of Nigerian National Petroleum Corp. (NNPC), on June 24.A letter of award (LOA) was signed by Jeong Tae-won, head of Daewoo
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. We raise our 2Q22 sales and OP estimates (parent basis) for Daewoong Pharm to W299.5bn and W29.2bn, respectively, as we hike our Nabota sales forecast to W131.4bn. We draw attention to the planned la
Maersk, which signed a methanol-fueled ship contract with Korea Shipbuilding & Offshore Engineering last year, is expected to order more ships of that type, which have a price of more than 200 billion won each.The contract signed last year is to build 12 methanol-fueled container carriers, about 16,
South Korean enterprises’ concerns are mounting over the soaring won-dollar exchange rate.According to industry sources, Korean Air’s profit decreases by 41 billion won each time the rate rises 10 won per U.S. dollar. “In April and May, the average exchange rate was 1,251.11 won, up 11.6 percent fro
Daewoo E&C’s Overseas Real Estate Development Team, led by vice chairman Jung Won-joo of Jungheung Group, the builder's parent group, visited Vietnam from June 18 to 23 to meet with high-level government officials and check business issues, the company announced on June 23.Jung met with Vietnam’
The author is an analyst of Shinhan Investment Corp. She can be reached at sunmi.kim@shinhan.com. -- Ed. Silently in motionNew apartment presales doing well so farThere have been no notable issues for major domestic construction companies in 2Q22. As of June, new apartment presales of top-tier build
Daewoo Shipbuilding & Marine Engineering (DSME) announced on June 16 that it has applied high manganese steel, developed by POSCO after 10 years of research, to a liquefied natural gas (LNG) fuel tank for the first time in the world.The two companies will build Korea’s unique LNG fuel tank ecosystem
Daewoo E&C is stepping up efforts to enter overseas nuclear power plant markets.The company is the only Korean builder that can provide a total solution for the entire process of a nuclear power plant project, from design and construction to decommissioning.Daewoo E&C is pursuing the Czech nuclear p
Dual-fuel vessel orders are increasing after the low-sulfur fuel oil price hit an all-time high recently. An increasing number of shipowners are opting for those vessels such as LNG-powered ships in order to meet environmental regulations.This year, the three major South Korean shipbuilders received
Chinese shipbuilders are entering the global LNG carrier market, which has been dominated by South Korean shipbuilders.For example, last month, Jiangnan Shipyard signed a contract with a subsidiary of the Abu Dhabi National Oil Co. to supply four LNG carriers each with a capacity of 175,000 cubic me