ShippingWatch

Media: EU to block major South Korean shipyard merger

The EU Commission is allegedly so skeptical about the intent of shipbuilder HHI to join forces with DSME that it means to block the merger, writes South Korean media. The commission declines to comment on the story to ShippingWatch.

The European Commission is said to be intent on blocking the acquisition by South Korea's Hyundai Heavy Industries (HHI) of competitor Daewoo Shipbuilding & Marine Engineering (DSME), reports Korea Times citing anonymous sources.

The EU Commission has been reviewing the plans to merge HHI and DSME since December 2019. Both shipbuilders are among the world's largest vessel suppliers, and the EU's competition authority has been concerned that merging two such major yards could lead to increased prices on newbuilds.

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