Japan Takes South Korea to WTO Over Financial Support for Shipbuilders

By Tom Miles GENEVA, Nov 13 (Reuters) - Japan has launched a complaint at the World Trade Organization to contest what it says is illegal financial support given by South Korea to commercial shipbuilders, according to a WTO filing published on Tuesday. "The measures in question relate to the development, production, marketing, and/or sale or purchase of commercial vessels, … [Read more...]

Fund Manager Bets on Revival of South Korean Shipbuilders

By Heejin Kim and Kyunghee Park (Bloomberg) -- Park Hong-sik, a fund manager who correctly predicted the rally of South Korean technology stocks in 2017, has a new bet for this year: Shipbuilders. Four of the world’s five best-performing major shipbuilders this year are from South Korea, including Daewoo Shipbuilding & Marine Engineering Co., which has rallied 94 … [Read more...]

South Korean Shipyards in Tough Battle with Undercutting Chinese Rivals

By Mike Wackett in Busan (The Loadstar) - South Korean shipyards are in a battle with Chinese rivals, over construction of ultra-large container vessels, that they cannot win. That was the general consensus among delegates attending the 11th annual World Ocean Forum conference in Busan last week. In August, South Korea’s largest shipbuilder, Hyundai Heavy Industries … [Read more...]

World’s Top Two Shipyards Signal More Orders as Earnings Improve

By Kyunghee Park (Bloomberg) -- The world’s two biggest shipbuilders reported profit and issued an improved outlook, indicating South Korea’s shipyards may finally be emerging from two years of restructuring. Daewoo Shipbuilding & Marine Engineering Co., which averted a payment crisis this month after bondholders agreed to a debt revamp, said Thursday it is set … [Read more...]

DSME Gets Fresh $2.6 Billion Bailout

By Joyce Lee SEOUL, March 23 (Reuters) - South Korean state banks are preparing a fresh $2.6 billion bailout for floundering Daewoo Shipbuilding & Marine Engineering Co Ltd, which has built up huge losses from offshore projects and risks missing debt repayments. Daewoo, Hyundai Heavy Industries and Samsung Heavy Industries are South Korea's top shipbuilders - a … [Read more...]