Daewoo Shipbuilding & Marine Engineering (DSME) announced on Oct. 31 that it has succeeded in loading a high manganese steel LNG fuel tank into a dual fuel-powered container carrier for the first time in the world.The company mounted a square-shaped high manganese steel LNG tank inside a 24,000-TEU
Union risk is looming large again in the Korean shipbuilding industry, as the unionists at the three affiliates of Hyundai Heavy Industries Group are each holding a strike vote. The three affiliates are Hyundai Heavy Industries, Hyundai Mipo Shipbuilding and Samho Heavy Industries.At Daewoo Shipbuil
Daewoo Shipbuilding & Marine Engineering (DSME) has recently won an order for two 200,000-cubic-meter LNG carriers at a price of US$250 million (about 360.5 billion won) for each. This is the most expensive LNG carrier order awarded to Korean shipbuilders this year. It is the highest price since the
Daewoo Shipbuilding & Marine Engineering (DSME), which is to be sold off to Hanwha Group, has won orders for four liquefied natural gas (LNG) carriers, which were worth 1.85 trillion won altogether.The company received orders for two LNG carriers each from clients in Asia and Europe. The carriers we
Since 2015, 4.1 trillion won in Korean taxpayers’ money has been put into Daewoo Shipbuilding and Marine Engineering (DSME) to keep the ailing company afloat, but it will be sold off to Hanwha Group for no more than two trillion won, which is less than half of the public money spent on it.In particu
Daewoo Shipbuilding & Marine Engineering (DSME) will be sold to Hanwha Group.The Korea Development Bank (KDB) announced on Sept. 26 that it will sell part of its stake in DSME to Hanwha Group for about 2 trillion won. After the sale, KDB's stake will be lowered from 55.7 percent to 28.2 percentT
Daewoo Shipbuilding & Marine Engineering (DSME) announced on Sept. 6 that it has won an order for seven liquefied natural gas (LNG) carriers worth about 2.04 trillion won from a client in Africa. These ships are expected to be delivered to the client by February 2026.Although DSME did not disclose t
Daewoo Shipbuilding & Marine Engineering (DSME) will file a suit for damages of about 50 billion won against the subcontractor branch of the Korean Federation of Trade Unions (KCTU), which illegally occupied Okpo Shipyard in Geoje of South Gyeongsang Province for 51 days.The company reported the dam
Daewoo Shipbuilding & Marine Engineering (DSME) is facing a loss of about 80 billion won in its submarine construction deal with the government of Indonesia.The company purchased parts for the submarine without receiving any down payment from the Indonesian government. For more than three years, the
Daewoo Shipbuilding & Marine Engineering (DSME) said on Aug. 5 that it has filed an arbitration request with the International Chamber of Commerce (ICC) regarding a claim for damages from INPEX, Japan's largest oil and gas exploration and production company.The Japanese company demanded damages
Unionized Daewoo Shipbuilding & Marine Engineering (DSME) workers released a statement on Aug. 1 to express concerns on the possibility of the company being divided into several units to facilitate its sale.After the recent strike by subcontract workers that continued for 51 days, divide and sell is
Korean shipbuilders' order intake in the first half of this year increased 5.7 percent from the same period of 2021.As of June, the combined order intake of the five major Korean shipbuilders -- Hyundai Heavy Industries, Hyundai Mipo Dockyard, Hyundai Samho Heavy Industries, Samsung Heavy Indust
South Korean shipbuilders’ contracts with Russia are being mentioned as a factor that may hinder their profitability improvement. They are aiming to turn a profit next year, but any payment failure on the part of Russian shipowners may delay the schedule. At present, contracts with Russia total US$5
Daewoo Shipbuilding & Marine Engineering (DSME) announced on July 25 that it has won an order for two large LNG carriers worth 649.5 billion won from a European client. These ships will be built at the Okpo Shipyard in Korea and delivered to the client in the second half of 2026.Each of the LNG carr
Subcontract workers’ strike at Daewoo Shipbuilding & Marine Engineering (DSME) has ended. With huge business losses caused by the strike, how to bring the company back to normal is being discussed again. According to many experts, to sell it as a whole is the best option for blocking further losses
The Korean Metal Workers’ Union (KMWU) under the Korean Confederation of Trade Unions initiated a general strike on July 20 in Seoul and Daewoo Shipbuilding & Marine Engineering in Geoje. The strike is to support subcontract workers working for DSME.“The South Korean government closed its ears to th
As subcontract workers’ strike at Daewoo Shipbuilding & Marine Engineering (DSME) continues for nearly 50 days, the nation's other shipbuilders including Hyundai Heavy Industries are keeping a close eye on the development of the situation.On July 20, Hyundai Heavy Industries Group called a meeti
The strike at Daewoo Shipbuilding & Marine Engineering (DSME) is showing no signs of ending. According to experts, this is because the domestic shipbuilding sector highly depends on external factors and the interests of contractors and subcontractors are intertwined in it.The negotiating parties in
Daewoo Shipbuilding & Marine Engineering (DSME) subcontract workers are continuing with their strike in Geoje, Tongyoung and Goseong and the company’s resultant losses are estimated at 992 billion won. According to DSME, the delayed launching of ships attributable to the strike has led to a daily sa
Unionized subcontract workers at Daewoo Shipbuilding & Marine Engineering (DSME) are still occupying the company’s Okpo Shipyard to hinder ship launching. Under the circumstances, the DSME union of regular employees is heavily criticizing them.The subcontract workers, who are Korean Confederation of