S. Korean Shipbuilders rack up orders

Korean shipbuilders inked more orders than anyone else in May, overcoming stiff competition from Chinese competitors while Japanese companies trailed behind.

Time Running Out for World’s Top Shipbuilder as Creditors Argue

South Korea’s National Pension Service has a decision to make — help the world’s biggest shipmaker survive, or let it die.

China: Shipbuilder closing down yards to combat overcapacity

COSCO Shipping Heavy Industry Co Ltd, China’s third largest shipbuilder by output, plans to cut the number of shipyards that are able to manufacture offshore engineering products from five to two by 2020, its senior executive said on Friday.

Report: Hyundai Heavy’s Union Considering Strike

The labor union of South Korea’s shipbuilder Hyundai Heavy Industries (HHI) said that it would launch an industrial action as a response to the company’s plans to split its businesses, according to Yonhap News Agency.

Report: Ailing Shipbuilder DSME to Get USD 2.4 Bn from Creditors

Creditors of the financially-troubled Daewoo Shipbuilding & Marine Engineering (DSME) plan to financially support this South Korean shipbuilder with KRW 2.8 trillion (USD 2.4 billion), under proviso that the company’s labor union accepts the restructuring

Singapore Shipbuilder Says Australian Units Face Court Action

A Singapore-listed builder of ships that service offshore oil and gas facilities said some creditors are seeking to wind up its subsidiaries in Australia, adding to signs of strains in an industry beset by energy price declines.

Korean shipbuilders projected to see profit downturn in Q2

South Korean shipbuilders are likely to see a profit downturn in the second quarter of the year, hit by the ongoing industry-wide restructuring.