The Supreme Court has ruled in favor of the labor union of Hyundai Heavy Industries in a 630 billion won lawsuit over the inclusion of regular bonuses in ordinary wages.The ruling deals a harsh blow to Hyundai Heavy Industries, which is facing the possibility of its bid to acquire Daewoo Shipbuildin
Reuters reported on Dec. 11 that the European Commission is unlikely to approve Hyundai Heavy Industries Group’s acquisition of Daewoo Shipbuilding & Marine Engineering. According to the report, this is because the former failed to come up with a solution to potentially limited competition.The Europ
The Korean Fair Trade Commission is expected to make a decision on the proposed merger between Korea Shipbuilding & Offshore Engineering (KSOE) and Daewoo Shipbuilding & Marine Engineering (DSME) in the middle of next month in consideration of the European Union’s schedule for a review of the matter
Daewoo Shipbuilding & Marine Engineering (DSME) has won an additional order for a large offshore wind turbine installation vessel (WTIV) worth 382.9 billion won from Eneti Inc. of Monaco.The ship will be built at DSME’s Okpo Shipyard and delivered to the client by the first half of 2025.Eneti ordere
Daewoo Shipbuilding & Marine Engineering (DSME) has won orders for six LNG carriers worth 1.5 trillion won. The latest orders boosted the company's order intake so far this year beyond US$10 billion (about 11.81 trillion won), the first time in seven years.DSME recently signed contracts with two
Daewoo Shipbuilding & Marine Engineering (DSME) has successfully developed a methanol steam reforming plant for submarine fuel cells and delivered it to the Agency for Defense Development.The company held a delivery ceremony at its Siheung R&D Campus on Nov. 18.The plant produces high purity hydroge
Qatar has placed the first batch of liquefied natural gas (LNG) carrier orders with Korean shipbuilders. As the total project size amounts to 23 trillion won, Korean shipbuilders are expected to enjoy an order rally.QatarEnergy, formerly Qatar Petroleum (QP), announced on Nov. 7 that it has placed a
Daewoo Shipbuilding & Marine Engineering (DSME) announced on Nov. 4 that it has developed the industry's first integrated mixed reality-based vessel platform "DW-3000F Surface Vessel MR System," which combines the advantages of virtual reality (VR) and augmented reality (AR).The MR system allows
The Fair Trade Commission (FTC) is expected to conditionally approve the merger between Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME).The commission is likely to reach a conclusion to the proposed business combination, which has been reviewed for the past three y
A restructuring of the Korean shipbuilding industry has been drifting for two years and nine months because of the European Union’s reluctance to endorse a business combination of Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME).Among the six countries that had been
The Korean Fair Trade Commission (FTC) has turned out to be the only one among the fair trade watch dogs in six countries that has not yet completed the first phase of the review regarding the merger between Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME).Among the
Daewoo Shipbuilding & Marine Engineering (DSME) has won an order for four liquefied natural gas (LNG) carriers from an Asian client. The deal, worth 990 billion won, helped the shipbuilder attain its annual order goal, the first time in seven years.The ships ordered this time are 174,000-cubic-meter
Korean shipbuilders' order book for offshore plant projects are expanding after a long order drought.Korea Shipbuilding & Offshore Engineering (KSOE) has recently signed a contract with a U.S.-based crude oil developer to build one floating production system (FPS) for 659.2 billion won.KSOE land
Despite brisk order intake in the first half of this year, Korean shipbuilders are not happy because a poor report card is expected ahead of the second quarter earnings announcement.The three major Korean shipbuilders -- Korea Shipbuilding & Offshore Engineering (KSOE), Daewoo Shipbuilding & Marine
Korean shipbuilders are racing to develop next-generation ships powered by fuel cells.Samsung Heavy Industries plans to test a liquefied natural gas (LNG) carrier powered by solid oxide fuel cells (SOFCs) in the second half of this year. The shipbuilder is planning to test the LNG carrier at LNG dem
Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company in charge of the shipbuilding business of Hyundai Heavy Industries Group, attained 94 percent of its order target for 2021 as of July 2. Accordingly, the shipbuilder is highly likely to exceed this year’s order goal.KS
Daewoo Shipbuilding & Marine Engineering (DSME) announced on June 22 that it has formed a global research and development network to develop hydrodynamic technology for eco-friendly smart vessels.The network consists of 15 organizations from at home and abroad, including four universities, five vess
A panel discussion was held on June 15 to shed light on the problems of the merger between Hyundai Heavy Industries Co. (HHIC) and Daewoo Shipbuilding and Marine Engineering (DSME).The meeting was organized by Min Hyung-bae and Lee Jung-moon, lawmakers of the Democratic Party, Seo Il-joon, a lawmake
The author is an analyst of NH Investment & Securities. He can be reached at jinmyung.choi@nhqv.com. -- Ed. We maintain a Positive rating on the shipbuilding industry. Strong shipbuilding orders are expected to continue into 2H21 led by both ongoing strong demand for containerships and imminent Qata
Korean shipbuilders are stepping up their efforts to win orders for offshore plants whose demand is on the recovery amid rising oil prices.Daewoo Shipbuilding & Marine Engineering (DSME) is expected to sign a contract to build a floating production storage and offloading (FPSO) unit (P-79) with Braz