DSME presents final rescue plan

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering will make deep cuts to employees' wages as part of the rescue plan, and the group will also divest assets, reports Korea Times about the plan presented Tuesday.

BY KATRINE GRØNVALD RAUN

Struggling Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) on Tuesday presented its much-anticipated restructuring plan. The company's employees, among others, will be impacted through reduced wages, while the shipyard is also planning to divest core subsidiaries, according to the Korea Times.

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DSME presents final rescue plan

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Korean state bank pulls STX Offshore towards receivership

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Front page now

Maritime & Merchant notes fierce competition in loans for shipping

14 arrested at demonstration in front of Maersk headquarters

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Record influx of container ships this year will not cause trouble until 2025

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UK Chamber of Shipping calls for more trade-friendly policies

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

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