South Korea’s Samsung Heavy Industries (SHI) announced on Wednesday that it has recorded a loss of KRW139bn ($120m) in 2016, considerably narrowing from the deficit of KRW1.21trn in 2015.

The Korea Marine Equipment Association (KOMEA) has set up its first overseas representative office in Singapore, leveraging on the city-state’s status as a marine hub.

South Korea’s Samsung Heavy Industries (SHI) has set itself a goal of achieving more than $6bn in orderbook in 2017, reports said.

Uni-Asia Holdings has informed that one of its bulk carriers had collided with a fishing boat in South Korean waters on 11 January, leading to the capsize of the fishing boat and death of the two boat crew.

South Korea’s Hyundai Merchant Marine (HMM) has entered into a memorandum of understanding with intra-Asia carriers Heung-A Shipping and Sinokor Merchant Marine to form a boxship consortium.

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).

DP World has acquired an additional 23.94% stake in Pusan Newport Company Limited (PNC) in South Korea from Samsung Corporation & Subsidiaries.

The Korean Register (KR) has elected Lee Jeong-kie as its new chairman and ceo, following the death in October of its previous chairman and ceo BS Park.

Container line Hyundai Merchant Marine (HMM) has introduced a new service connecting Vietnam to China, Hong Kong and South Korea.

South Korea’s Hyundai Heavy Industries (HHI) will be divided into six companies as part of its restructuring plan aimed at improving efficiency and raising competitiveness.