Login
Hyundai Heavy Industries værft Ulsan Sydkorea.jpg
Photo: Lee Jin-man/AP/POLFOTO/arkiv

IMF: It will cost USD 27 billion to save South Korea's shipyards

Suppliers:

The International Monetary Fund estimates in a report that it will cost USD 27 billion to restructure and thus save the South Korean shipyard and shipping industry, reports The Korea Herald.


BY LOUISE VOGDRUP-SCHMIDT
Published 24.10.16 at 14:02

Log in to read articles

Some of our content is exclusively for subscribers.

Try ShippingWatch free for 14 days

Get 14 days free trial access

Sign up for ShippingWatch newsletter
Most read Suppliers

IBIA pleased with penalty for bunker company in Singapore

Hyundai Merchant Marine singapore havn container port Suppliers:

The International Bunker Industry Association praises the Maritime and Port Authority of Singapore for suspending violators from the major bunkering port, and the association is working with Singaporean players to close loopholes associated with bunker fraud.

Study: Problems with half of all ballast water systems

Suppliers:

Close to half of all ballast water management systems installed on vessels in the global fleet are not working or are deemed problematic, shows new study performed by classification bureau ABS.

Nigeria accuses Monjasa of illegal bunker trade

Suppliers:

14 foreign seafarers are charged by Nigerian police of engaging in illegal trading of bunker oil. The case involves Danish bunker company Monjasa, which denies the alleged illegal activities when asked by ShippingWatch, as well as UK-based Glencore Energy.

Media: Deloitte to receive penalty for role in South Korean yard scandal

Suppliers:

South Korea's Financial Services Commission will bar accounting firm Deloitte for a year following the scandal related to accounting fraud at Daewoo Shipbuilding & Marine Engineering.

Daewoo delivers big profit for second quarter

Suppliers:

South Korea's Daewoo Shipbuilding & Marine Engineering achieved a big profit for the second quarter, a development driven in part by cost reduction measures and orders for offshore rigs.

Bunker trader made it to the top of Dan-Bunkering

Suppliers:

32-year-old Christoffer Berg Lassen grew up in the small Danish city Middelfart where Dan-Bunkering is also located. In 2004, he started a traineeship at the company, and 13 years later he has taken over the reins as CEO.

Current front page

Maersk Line missed out on growth in the container market

sørenskou2.jpg Container:

CEO Søren Skou was unable to deliver what analysts, competitors, and undoubtedly shareholders had expected. The carrier has lost market shares at what looks like the worst possible time, observers note. Fully in line with expectations, says Skou.

Torm Executive Director eyes flat development in product tanker

Tanker:

Danish product tanker carrier Torm finished the second quarter this year with an operating profit of USD 36 million and a negative bottom line of USD 2 million in a challenging market.

Maersk Tankers books huge impairment on vessels

Container:

The Maersk Group's product tanker carrier, Maersk Tankers, lost more than USD 483 million in the second quarter, a deficit that pulls the group into the red. Port unit APM Terminals also booked impairments related to several ports.

Transocean punished for biggest offshore deal of oil downturn

Offshore:

Investors did not take kindly to the news that Transocean had agreed to buy Songa Offshore in the biggest offshore drilling industry deal since the oil price plunge began three years ago.

Offshore crisis hits Singapore companies yet again

Offshore:

Ezion, another one of Singapore's offshore companies, has filed for insolvency, and trading of the company's shares has been suspended. Shipping service company Marco Polo's shares have been suspended since May, and the company's latest interim report does not bode well for the future.

Here is an overview of the Maersk Group Q2 results

Carriers:

Maersk Line grew, benefiting from a strengthened container freight market, while major impairments at Maersk Tankers and APM Terminals dragged the group's overall results down. And the hacker attack came at a high price.

ADVERTISEMENT
ADVERTISEMENT

Vacancies

ADVERTISEMENT