Korean shipyards estimated to have clinched record new orders in first half 07. 13, 2017 | admin | comment 0 PUBLISHED :July 03, 2017 – 11:02UPDATED :July 03, 2017 – 11:02[THE INVESTOR] South Korean shipbuilders, led by Hyundai Heavy Industries, are estimated to have clinched a record number of new shipbuilding orders in the first half of the year, with their combined tally more than doubling from a year earlier, industry data showed on July 3.Hyundai Heavy and other local shipyards have bagged orders wo...
Daewoo Shipbuilding set to complete debt-for-equity swap with bondholders 07. 13, 2017 | admin | comment 0 2017-07-07 13:21Cash-strapped Daewoo Shipbuilding & Marine Engineering Co. is expected to secure at least 800 billion won ($692 million) in cash through additional debt-for-equity swaps, industry sources said Friday.According to the sources, Daewoo Shipbuilding is planning to start the process of swapping debts for equity with bondholders next month as the country’s top court rejected an individua...
Hyundai Heavy calls out union over ‘overblown’ shipping data 07. 13, 2017 | admin | comment 0 2017-07-05 15:41Amid tense labor disputes, Hyundai Heavy Industries is speaking out against its labor union, arguing that members are distorting information related to the industry’s business conditions, such as shipbuilding orders and operating profits for the year.The union recently claimed the company received orders for 62 vessels totaling $3.8 billion from January to May, five times more comp...
Hanjin Heavy to guarantee US$32m debt of Filipino subsidiary 07. 13, 2017 | admin | comment 0 PUBLISHED :July 11, 2017 – 09:21UPDATED :July 11, 2017 – 09:21[DISCLOSURE] Hanjin Heavy Industries & Construction (097230)announced on July 10 that it has decided to guarantee US$32 million debt of its wholly-owned Filipino subsidiary HHIC-Phil.This amounts to 4.13 percent of its equity capital and the guarantee period is until July 13, 2018.By Hwang You-mee (theinvestor@heraldcorp.com)
Hyundai Heavy inks MOU for marine engine plant in Saudi Arabia 07. 13, 2017 | admin | comment 0 PUBLISHED :July 05, 2017 – 14:21UPDATED :July 05, 2017 – 14:21[THE INVESTOR] Hyundai Heavy Industries, a major shipyard here, said Wednesday that it had signed a memorandum of understanding with Saudi Aramco and others to build a plant in Saudi Arabia that will make engines used for ships and power generation.The Hyundai Heavy-Aramco consortium will spend US$400 million to set up an engine plant i...
Korean shipyard stocks stung by low oil prices 07. 13, 2017 | admin | comment 0 PUBLISHED :June 27, 2017 – 14:05UPDATED :June 27, 2017 – 14:05[THE INVESTOR] Hyundai Heavy Industries and other major shipyards in Korea have seen their stock prices slide for days due to a fall in oil prices, analysts said on June 27.HHI was trading at 173,000 won (US$152) on the Seoul bourse as of 10:10 a.m., down 0.29 percent from the previous session‘s close. The price is down from its yearly ...