As a global energy crisis deepens, demand for LNG floating storage and re-gasification units (LNG-FSRUs) is also on the uptick. They are emerging as a new cash cow for Korean shipbuilders, who boasts unrivaled leadership in this field.According to Clarkson Research, a British shipbuilding and shippi
South Korean enterprises’ debts are increasing rapidly with their corporate bond market shrinking fast. Their repayment capabilities are deteriorating amid high interest rates, inflation and economic slowdown. The number of companies with an interest coverage ratio of less than 1 is likely to increa
Korea Shipbuilding & Offshore Engineering (KSOE), a holding company of Hyundai Heavy Industries Group in the shipbuilding sector, has won orders for seven ships with an aggregate value of more than 2 trillion won.KSOE has signed a contract with Maersk, the world’s largest shipping company, to build
SK ecoplant is set to emerge as a major player in the domestic offshore wind power market. Through M&As and technology development, the company has secured expertise across the entire value chain of the offshore wind power business. It is seeking to go beyond the domestic market and establish itself
A research team led by Professor Hwang Ji-hyeon of the Korea Institute of Energy Technology (KENTECH) and the Institute of Future and Technology of Korea Shipbuilding and Offshore Engineering (KSOE) introduced the basic design of a 100MW offshore floating green hydrogen production platform to Gastec
SK ecoplant has signed an offshore wind power development agreement with Corio Generation, a wind power development company within Green Investment Group (GIG), and TotalEnergies, a global general energy company, the company announced on Sept. 5.GIG is a specialist green investor within Macquarie As
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. The US government announced on Aug. 31 (local time) that it will place restrictions on exports of high-performance GPUs from Nvidia and AMD to China and Russia. This is a negative development for 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
SK hynix Inc. announced on Aug. 2 that it has developed the industry’s highest 238-layer NAND Flash product.The company has recently shipped samples of the 238-layer 512Gb triple level cell (TLC) 4D NAND product to customers, with a plan to start mass production in the first half of 2023. “The lates
The authors are analysts of Shinhan Investment Corp. They can be reached at krpark@shinhan.com and mw.choi@shinhan.com, respectively. -- Ed. 2Q22 OP likely beat consensus at KRW190.8bn (+252% YoY)Korea Gas is expected to have recorded sales of KRW7.95tr (+64.1% YoY) and operating profit of KRW190.8b
The author is an analyst of KB Securities. He can be reached at newday@kbfg.com. -- Ed. Maintain BUY, target price of KRW110,000 Our TP of KRW110,000 (12m fwd BVPS x 0.82x target P/B) on KSOE is unchanged. Earnings estimate revisions, change in 12m fwd period, ROE adjustment and changes to 1y MSB yi
Daewoo Shipbuilding & Marine Engineering (DSME) announced on May 23 that it canceled a shipbuilding contract with a Russian shipowner on May 18.The contract is one of the three ice-breaking LNG carrier contracts they concluded in October 2020, which total 1.0137 trillion won. The first vessel was su
The Export-Import Bank of Korea announced on May 18 that it issued 1.5 billion euros of global bonds. The amount is the largest in the history of euro bond issuance by South Korean institutions.According to the bank, the bonds consist of 550 million euros of floating rate notes with a maturity of tw
Samsung Heavy Industries will develop offshore nuclear power plant facilities. It announced on April 7 that it has signed an MOU with Denmark’s Seaborg, a compact molten salt reactor (CMSR) developer, to develop a floating nuclear power plant facility using CMSRs.CMSRs can generate electricity with
Remi Eriksen, CEO of DNV, recently had an interview about the longstanding relationship between his company and Korea. DNV is the world’s largest international accredited registrar and classification society and is headquartered in Norway. It provides services to a range of industries, including the
Korea Southern Power Co. announced on March 15 that it has signed a business agreement with Shell, a global energy giant, to develop a floating offshore wind power generation complex in the East Sea 65 kilometers away from Ulsan City.The offshore wind power complex will have a power generation capac
The European Commission finalized the EU taxonomy on Feb. 2 in order to classify investment in nuclear power generation and natural gas-based power generation as an eco-friendly and sustainable way of investment.Earlier, the European Commission sent the draft of the taxonomy to the 27 member states
Samsung Electronics launched the Exynos 2200, a premium mobile application processor (AP) created in partnership with AMD, on Jan. 18. Samsung has collaborated with AMD for about two and a half years to develop the product. It will go into the Galaxy 22, which will be launched next month.The Exynos
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In line with global efforts towards carbon-neutrality, the domestic offshore wind market is set to bloom in the near future. We expect Hyundai E&C to become a major beneficiary of the domestic of
South Korea is dominating the global floating liquefied natural gas (FLNG) facility market. A FLNG facility is a floating production storage and offloading (FPSO) unit that can purify, liquefy, and store natural gas extracted from the sea.The Korean Ministry of Trade, Industry and Energy said on Nov