HMM announced on May 10 that its world's largest containership, ‘the Algeciras,’ set a new world record by leaving Yantian, China fully filled with container boxes.The Algeciras made a call at Busan New Port on April 28, loaded 7,156-TEU cargoes and departed on April 30. After that, the ship arr
A christening ceremony for the world’s largest containership, the HMM Algeciras, was held at Okpo Shipyard of Daewoo Shipbuilding & Marine Engineering (DSME) in Geoje on April 23.The vessel is the first of the 12 24,000 TEU container carriers ordered by HMM in September 2018.The vessel is named afte
Qatar has signed a deal with a Chinese shipbuilder for the first batch of its project to build 120 LNG carriers.According to TradeWinds, the world’s biggest shipping news service, Qatar Petroleum (QP) has signed a milestone LNG newbuilding berth reservation deal for a potential 16 vessels worth 20 b
South Korea and Japan held talks on the merger between Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) on March 30 but failed to iron out their differences, the Korean Ministry of Trade, Industry and Energy said on March 31.The ministry said it had bilateral negotiations
The three major Korean shipbuilders had attained even less than 5 percent of their annual order targets until last month.By February this year, the combined order receipts of the three shipbuilders stood at US$1,177 million, only 3.8 percent of their annual target.Korea Shipbuilding & Offshore Engin
China, Japan and Singapore are pushing for mergers in the shipbuilding industry with a business combination review going on for Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering, which are the two largest shipbuilders in the world.In China, the State-owned Assets Supervision and
Japan is conducting a review of the proposed merger between Hyundai Heavy Industries Group and Daewoo Shipbuilding & Marine Engineering (DSME).The Japan Fair Trade Commission has started the first stage of a review on the business combination between Hyundai Heavy Industries Group and DSME after rec
The Japanese government’s WTO litigation against a business combination between Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering is to keep South Korea’s shipbuilding industry in check.Hana Financial Investment said in its recent report that Japan Marine United (JMU), which was
The Japanese government called into question the legitimacy of a merger between Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME) in making an issue of the South Korean government’s shipbuilding industry restructuring plan by bringing the case to the WTO. According t
Japan has brought the case of merger between Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering to the World Trade Organization (WTO) in an attempt to delay the launching of a mega shipyard to overhaul the shipbuilding industry of South Korea.The petition filed by Japan is likely
Hyundai Merchant Marine (HMM) plans to introduce the world's largest container ships on its Asia-Europe routes starting this April.HMM will put into operation a total of 12 24,000-TEU super large vessels, one per week, staring this April, the Busan New Port Terminal said on Jan. 12.The container
Samsung Heavy Industries is likely to sweep orders from Russia for ice-breaking LNG carriers to be used for its Yamal LNG project.Novatek, a state-run Russian energy company, recently asked the Russian government to approve its plan to place an order for 10 additional icebreaking LNG carriers worth
Daewoo Shipbuilding & Marine Engineering (DSME) and Hyundai Heavy Industries Group have won orders near the end of the year.DSME received an additional order of six container vessels worth 891.8 billion won (US$768 million) from an African client on Dec. 27. DSME will deliver the vessels to their ow
Korean shipbuilders are pulling out all the stops to land more orders as the year nears its end.Hyundai Heavy Industries Group announced on Dec. 22 that it has signed a US$376 million contract for two 174,000-cubic-meter LNG carriers with an overseas shipping company.The vessels ordered this time ar
The European Commission (EC) has launched an in-depth review of Hyundai Heavy Industries’ acquisition of Daewoo Shipbuilding & Marine Engineering (DSME).The European Commission's Fair Competition Subcommittee said on Dec. 17 (local time) that it will carefully assess whether the proposed transac
Daewoo Shipbuilding & Marine Engineering (DSME) has won a US$380 million order for three high-value-added vessels including one LNG carrier.DSME announced on Dec. 9 that it received an order for one LNG carrier and two ultra-large crude oil carriers from Maran Gas and Maran Tankers under Angelicouss
An offshore plant order drought will continue into next year, affecting the three major Korean shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries, industry analysis reports say.One major reason is that big projects are being canceled one
Samsung Heavy Industries has reached about 90 percent of its annual order target by signing a contract to build LNG carriers for US$1.5 billion.Samsung Heavy Industries announced on Nov. 25 that it has signed a conditional contract with a Eurasian ship owner. The contract will run until September 20
Samsung Heavy Industries’ labor and management representatives have recently visited Malaysia together to attend an event organized by the company’s client. It is a stark contrast to situations at other Korean shipbuilders that are still suffering from labor conflicts.Nam Joon-woo, president of Sams
Hyundai Heavy Industries Group has obtained approval from Kazakhstan of its plan to merge with Daewoo Shipbuilding & Marine Engineering (DSME).Kazakhstan is the first country to approve the merger plan. Hyundai Heavy Industries Group said on Oct. 29 that Kazakhstan authorities approved its plan with