Qatar Petroleum is expected to select builders for its LNG carriers within this year, raising expectations of the big three Korean shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries.Earlier market watchers speculated that Qatar migh
The Big 3 Korean shipbuilders -- the Hyundai Heavy Industries Group, Daewoo Shipbuilding & Marine Engineering (DSME), and Samsung Heavy Industries -- are winning a growing number of orders for LNG-fueled vessels. They are already well recognized for their technological prowess in building LNG carrie
Although Korean shipbuilders maintain the world's number one position in the LNG carrier market, they rely on a French company for a key technology for storing LNG and pays it 5 percent of its contract money as a royalty whenever they build an LNG carrier.To store and transport LNG, a membrane s
The three major Korean shipbuilders are making all-out efforts to develop technology for eco-friendly and smart ships.Demand for eco-friendly ships is forecast to balloon as the International Maritime Organization's strong greenhouse gas emissions regulations are to go into effect next year.The
The Daewoo Shipbuilding & Marine Engineering branch of the Korean Metal Workers’ Union is planning to stage a demonstration on Oct. 1 in Brussels, Belgium, where the EU headquarters is located, against a business combination between Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industri
The Korean shipbuilding industry took first place for the fourth consecutive month, winning 74 percent of the world's shipbuilding orders in August. However, some public opinions are criticizing the Korean shipbuilding industry, saying that Korean shipbuilders are rejecting a golden opportunity
The CEOs of Korea’s three major shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries –- are rolling up their sleeves to land orders for LNG carriers.They will attend Gastech 2019, which will run in Houston, the United States, from Sep
Korea Shipbuilding & Offshore Engineering, a subsidiary of Hyundai Heavy Industries Holdings, announced on Sep. 4 that it started discussions with the Japan Fair Trade Commission regarding Hyundai Heavy Industries Group’s acquisition of Daewoo Shipbuilding & Marine Engineering.“Prior procedures are
Hyundai Heavy Industries Group has filed an application for a merger with Daewoo Shipbuilding & Marine Engineering (DSME) with the State Administration for Market Regulation of China."Today, we submitted an application for an enterprise combination review through a local consultant in China," said a
A series of mergers between Chinese shipbuilders are threatening South Korean mid-size companies which are already struggling to survive. The mergers are a favorable development for winning China’s approval of the proposed merger between Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine
South Korean shipbuilders’ performance in the first half of this year is not up to the mark. The amount of new shipbuilding orders they won in the first six months of the year fell short of half of their yearly goals.The poor performance is attributed to a drop in the amount of new shipbuilding orde
South Korean shipbuilders are leading the ultra large containership market as well as liquefied natural gas (LNG) carrier.Daewoo Shipbuilding and Marine Engineering Co. (DSME) is planning to deliver one of five 23,000 TEU containerships ordered by Swiss-based shipping line Mediterranean Shipping Co.
Japan and China are taking action to keep the Korean shipbuilding industry in check.The Japanese government, condemning Korea Development Bank’s injection of public funds into Daewoo Shipbuilding and Marine Engineering (DSME) as an unfair trade practice (an illegal subsidy), has decided to take the
Concerns are growing that Japan's economic retaliation against Korea, which started in the semiconductor and display sectors, may expand and hit the Korean industry as a whole. Japanese media outlets reported that Japan would expand the list of the items subject to export restrictions in the fut
Hyundai Heavy Industries Group, a major shipbuilding conglomerate in South Korea, has officially started the process to earn approval from anti-trust regulators for its proposed takeover of Daewoo Shipbuilding and Marine Engineering Co. (DSME).Korea Shipbuilding & Offshore Engineering Co. (KSOE) ann
Korea’s major industries are beleaguered. Externally, exports of semiconductors, displays, and petrochemicals, which are the backbones of the Korean economy, have been on the decline due to a drop in demand stemming from the U.S.-China trade dispute. Internally, labor unions’ hard lines and excessiv
Hyundai Heavy Industries has barely succeeded in dividing itself for the acquisition of Daewoo Shipbuilding & Marine Engineering (DSME), overcoming strong opposition from its unionized workers. Now the company is facing resistance from the DSME labor union in carrying out due diligence.Hyundai Heavy
The Korean shipbuilding industry is faltering due to sluggish global shipbuilding orders. Korean shipbuilders are lagging behind their Chinese rivals in landing orders in the second quarter after losing first place to China in the first quarter.Global shipbuilding orders continued to shrink in April
The domestic shipbuilding industry is screaming for joy over a recent surge in orders for liquefied natural gas (LNG) carriers.Currently, the Big 3 Korean shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries – each have a backlog of m
The Korean shipbuilding industry is showing signs of recovery.Samsung Heavy Industries announced on April 22 that it has signed a contract with an Asian shipping company to build a floating production storage and offloading (FPSO) unit for 1.1 trillion won on the condition that the client receives a