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...]

Daewoo Shipbuilding & Marine Engineering Unlocks $2.6 Billion Bailout

By Joyce Lee SEOUL, April 18 (Reuters) - South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd has won near unanimous agreement from bondholders to swap their debt for equity, meeting a condition that unlocks a $2.6 billion bank bailout for the world's biggest shipbuilder. Daewoo won approval from over 96 percent of bondholders at two meetings on Tuesday and … [Read more...]