South Korea to Combine World’s Two Biggest Shipbuilders in $2 Billion Deal

By Hyunjoo Jin SEOUL, Jan 31 (Reuters) - Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market. The move comes as the worldwide shipbuilding sector recovers from a global economic … [Read more...]

Hyundai Heavy Seeks Stake in Rival DSME -Official

SEOUL, Jan 30 (Reuters) - South Korea's Hyundai Heavy Industries Group, the world's biggest shipbuilder, is interested in buying a stake in second-ranked rival Daewoo Shipbuilding & Marine Engineering, a Hyundai official told Reuters on Wednesday. The comments follow the group's holding firm saying on Monday it planned to sell part of its stake in refiner Hyundai Oilbank … [Read more...]

DSME Warship Blueprints Stolen in North Korea Hack -S.Korea Lawmaker

By Haejin Choi SEOUL, Oct 31 (Reuters) - North Korea probably stole South Korean warship blueprints after hacking into Daewoo Shipbuilding & Marine Engineering Co Ltd's database in April last year, a South Korean opposition lawmaker said on Tuesday. North Korea has often been implicated in cyber attacks in South Korea and elsewhere but Pyongyang has either ignored or … [Read more...]

MSC Confirms Order for Eleven 22,000 TEU Containerships

On the heels of CMA CGM's order for nine record-breaking 22,000 TEU containerships, Mediterranean Shipping Company has confirmed it has placed its own order for eleven new vessels each with a capacity of 22,000 TEU. Although the newbuilding order has not been officially announced, a spokesperson for MSC has confirmed the order in a statement to gCaptain. The order was … [Read more...]