Login
Triple-E 3.JPG
Photo: Thorbjørn Hansen

Daewoo CEO questioned over attempts to cover up losses

Suppliers:

The chief executive of struggling Korean shipbuilder Daewoo was questioned by state prosecutors on Tuesday over allegations that the yard tried to cover a major deficit in 2015 by underreporting losses.


BY DANIEL LOGAN BERG-MUNCH
Published 17.01.17 at 09:30

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

Kuehne+Nagel CEO: Container industry has a problem

D_Trefzger.jpg Suppliers:

One of Europe's biggest logistics and forwarding companies, Kuehne+Nagel, will take the container carriers' abilities to go digital into account when signing orders in the future, CEO Detlef Trefzger tells ShippingWatch.

South Korean yards cut their way to profits

Suppliers:

Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries have both delivered large profits in the first quarter. According to local media, the improvement is largely attributed to comprehensive streamlining efforts.

Kongsberg: These are the top four trends in digital shipping

Suppliers:

Hege Skryseth, CEO of new company Kongsberg Digital, offers ShippingWatch her predictions for the four biggest trends in digital developments within shipping. "Shipping is still conservative, but the sector is catching up," she says.

Rolls-Royce: This is where unmanned vessels will operate

Suppliers:

It is a fact that unmanned vessels will soon hit the water. VP of Innovation at Rolls-Royce, Oskar Levander, talks to ShippingWatch about his projections for which vessel types will be ready when, and what drives the development.

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.

The world's first unmanned offshore vessel operational in 2018

Suppliers:

Already two years from now, the first unmanned offshore vessel will be operational in the North Sea, states Kongsberg Maritime and Automated Ships, interviewed by ShippingWatch about challenges in regulation and insurance.

Current front page

Maersk Line to pay EUR 3.7 bln for Hamburg Süd

hamburgsud4.jpg Container:

Maersk Line will pay EUR 3.7 billion for German container carrier Hamburg Süd. The boards of directors at the two companies have now cleared the transaction, which is expected completed in late 2017.

Aker BP drills its way to impressive result

Offshore:

Last year's merger of Det Norske and BP seems to have paid off. The resulting company, Aker BP, is now raking it in.

OOCL grew its volumes in the first quarter

Container:

Orient Overseas Container Line, OOCL, carried more containers in the first quarter, but the prices have been somewhat under pressure since the beginning of the year.

US shale boom puts pressure on the entire industry

Tanker:

US shale oil is now being produced at such a rate that it could threaten the stability currently enjoyed by the sector, projects Rystad Energy. One of the major suppliers of offshore rigs, shipbuilder Keppel, does not see a recovery anytime soon.

Japan's three major container carriers believe in 2017 gains

Container:

The three major Japanese container carriers: MOL, NYK Line, and K-Line, which are poised for a merger, all have faith in advancements this year, as indicated in their annual reports published Friday morning.

Belgium's Exmar calls off purchase of Dutch gas fleet

Tanker:

Gas carrier Exmar went red in the first quarter in the weak LPG market where too many vessels are undermining an otherwise historically strong US gas export. The carrier has also called off negotiations to acquire a Dutch FSRU fleet.

ADVERTISEMENT

Vacancies

ADVERTISEMENT