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S. Korean court to allow STX France to be sold separately - 18/10/2016
A South Korean court has decided to allow two units of the collapsed STX shipbuilding group to be sold either separately or together, according to a sales notice seen by Reuters on Tuesday, opening the prospect of a separate sale of STX France.
For the complete story, see:
http://www.reuters.com/article/southkorea-stx-idUSL4N1CO3KK
The WSJ - South Korea's STX Offshore files for U.S. bankruptcy protection - 20/10/2016
South Korea's STX Offshore & Shipbuilding Co. filed for bankruptcy protection in Texas in a bid to stop creditors from trying to seize its assets in the U.S. as the troubled shipyard looks to sell its business overseas.
For the complete story, see:
http://www.wsj.com/articles/south-koreas-stx-offshore-files-for-u-s-bankruptcy-protection-1476978197
The Korea Herald - Shipbuilding, shipping restructuring to cost W31tr: IMF - 23/10/2016
The cost of restructuring ailing Korean shipbuilders and shipping companies is estimated at 31 trillion won ($27 billion), with the cost projected to be offset after a decade, the International Monetary Fund's report said Sunday.
For the complete story, see:
http://www.koreaherald.com/view.php?ud=20161023000285
Yonhap News Agency - Shipbuilders' Q3 earnings better than expected - 19/10/2016
South Korea's major shipbuilders are expected to have posted better-than-expected earnings in the third quarter of the year on the back of their efforts to cut costs through tough restructuring, industry sources said Wednesday.
For the complete story, see:
http://english.yonhapnews.co.kr/news/2016/10/19/51/0200000000AEN20161019002700320F.html
Yonhap News Agency - Samsung Heavy chief says further job cuts possible if order target unmet - 19/10/2016
The chief of Samsung Heavy Industries Co. said Wednesday that further job cuts will be possible if the shipbuilder fails to meet this year's order target.
For the complete story, see:
http://english.yonhapnews.co.kr/northkorea/2016/10/19/0401000000AEN20161019010151315.html
http://www.macrosourcemedia.com/store/p7/High-Tech_Shipping_Market_Report_%2874_pages%29.html
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Media Releases
HHI - Hyundai Heavy Industries Wins an Order to Build Two 2,600 ton Frigates for the Philippine Navy - 24/10/2016
Hyundai Heavy Industries (HHI), the world's largest shipbuilder, announced today that it signed a contract to build two 2,600 ton frigates with the Department of National Defense, Republic of the Philippines.
The signing ceremony held in Manila, Philippines, was attended by Mr. Chung Ki-sun, executive vice president of Corporate Planning Office of HHI, Mr. Delfin Lorenzana, Philippines' Defense Secretary and Mr. Kim Jai- shin, Korean Ambassador to...