ShippingWatch

South Korean merger stranded on European fear of expensive tankers

The acquisition of shipbuilder DSME looked like the near-perfect extension of HHI, which, ultimately, became the nail in the coffin for the year-long competition case. In Brussels, prominent people expect the decision to hold up in court – however, the question is whether shareholders are already looking for new buyers.

Photo: Daewoo Shipbuilding & Marine Engineering/Yonhap

BRUSSELS – On a surface level, it was an obvious acquisition. Almost a match made in heaven.

When South Korean shipbuilders Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME) initiated plans to merge, it was two of the world's leading yards measured on transport of liquefied natural gas (LNG) that sought to combine forces. They had the technology, the experience, apparently a strong urge, and a shared market to conquer.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Growth prompts OSM to send 150 managers on a leadership course

An equal approach to management and a desire to be more aligned are some of the reasons why OSM is sending both top and mid-level managers on a custom-made leadership course. ShippingWatch has spoken to OSM’s new chief culture officer about the initiative.

MSC, Lufthansa mull acquiring Italian state aviation firm

The world’s largest container line, MSC, and German aviation company Lufthansa have offered to take over Italian state airline ITA, the former Alitalia. MSC and Lufthansa have requested a 90-day exclusivity period to closely examine ITA.

Further reading

Related articles

Latest news

See all jobs