The big three South Korean shipbuilders, which are all going through a restructuring, are not in a position to merge, according to reports citing Korea’s Financial Services Commission (FSC).
Daewoo Shipbuilding & Marine Engineering (DSME) and Kongsberg Maritime have signed a joint development agreement to develop a new LNG FSRU regasification control system.
Daewoo Shipbuilding & Marine Engineering (DSME) has won further financial support worth KRW3.2trn ($2.7bn) from its creditors, but it still faces risk of falling under receivership if the shipyard’s labour union object to the conditions for...
South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) has unveiled additional self-rescue measures with an aim to raise KRW700bn ($613m) in cash, according to Jung Sung-leep, chief executive and president of DSME.
Daewoo Shipbuilding & Marine Engineering (DSME) has sold its headquarters building in downtown Seoul, South Korea for KRW170bn ($149m) to a local asset manager Koramco, reports said.
Daewoo Shipbuilding & Marine Engineering (DSME) has signed a memorandum of understanding to sell its headquarters building in Seoul to Koramco as the preferred bidder at a price of KRW180bn ($151.6m), reports said.
South Korea’s big three shipyards have been urged by their creditors to carry out their respective restructuring plans as well as come up with additional rescue measures as they struggle with mounting losses, local media Yonhap reported.
South Korea’s three main shipbuilders are continuing to struggle for survival as the recession in the global shipbuilding market drags on, leading to an almost dearth of new orders so far this year for the Korean yards.
Daewoo Shipbuilding & Marine Engineering (DSME) has restated its 2015 financial results and reposted a loss that is reduced close to KRW2trn ($1.7bn), after auditors pointed out the error, reports said.
