News on South Korea.

DSME has won an order for five mega ships

Daewoo Shipbuilding & Marine Engineering has secured an order for five new container ships set for delivery next year. The contract is worth a triple-digit million-dollar figure.

More ship orders send South Korean yard stocks soaring

Stock prices at the three major South Korean shipbuilders rose considerably over the past month. This is especially due to a wave of new orders, and the trend is expected to continue throughout the year, news agency writes.

South Korean yard merger could be met with resistance abroad

South Korea's Fair Trade Commission says that foreign regulators will likely keep a close eye on the merger between Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering. The new company's market share could weaken competition, notes the commission.

South Korean shipping companies apply for state lease scheme

11 small and medium-sized shipping companies have applied to the country's government for a state aid scheme in which the state buys ships and leases them back to the shipping companies again, reports Yonhap. The applications pertain ships for a triple-digit million dollar figure, according to the media.

South Korean shipbuilders back in first place

The shipyards in South Korea received the most orders for newbuilds in 2018. This puts the South Korean shipyards back in first place after having been beaten by their Chinese competitors in the past five years, according to numbers from Clarkson Research.

OECD to scrutinize state aid for South Korea's shipbuilding sector

Criticism of the South Korean government's subsidies to the country's shipbuilding and shipping sector have grown in scale this year with several massive aid packages. Later this week the OECD will meet to discuss what can be done. Certain countries are allegedly pushing for a tougher approach.

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