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Shipping industry silent on EU's "bold" no to South Korean yards

EU’s decline of major merger between South Korean shipyards DSME and HHI shows that Brussels is not afraid to make ”bold decisions,” assesses large law firm. The shipping industry’s own reaction is mostly silent.

Last week, the European Commission, headed by Margrethe Vestager, rejected the merger of HHI and DSME. | Photo: Francisco Seco/AP/Ritzau Scanpix

European rejection of the large-scale merger of shipbuilding groups Daewoo Shipbuilding & Marine Engineering (DSME) and Hyundai Heavy Industries (HHI) is good news for the liquefied natural gas (LNG) carriers and demonstrates the European Commission’s willingness to make ”bold decisions.”

So writes law firm Baker Botts in a comment on the decision, publicized last week.

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