The majority of employees working at South Korea’s DSME decided to go on strike in a bid to oppose a takeover by Hyundai Heavy Industries , on February 19. The decision to go on strike was supported by a majority of DSME workers South Korea’s Yonhap informed.
In order to promote the Make in India initiative and give incentives for ship building activity in the country, the Indian Ministry of Shipping revised its guidelines for chartering of ships by providing Right of First Refusal to ships built in India. Whenever a tendering process is performed to charter a vessel, a bidder offering a ship built in India will be given the first priority to match the L1 quote.
State-run Korea Development Bank announced it will help Hanjin Heavy Industries & Construction, South Korea’s oldest shipbuilder, to stand on its feet, following the shipbuilder’s move to file for rehabilitation. KDB reported on February 13, that it would help Hanjin Heavy negotiate with a number of Filipino financial institutions who are owed vast sums of money by the Korean yard.
South Korean shipbuilders ranked second globally in total new orders for January, surpassed by China. According to the Clarkson Research Institute, South Korean shipyards were awarded new orders with an overall worth of 580,000 compensated gross tons, in order to build 12 ships. Japan came third with 13.69 million CGTs.
The Commonwealth of Australia and Naval Group signed the Future Submarine Program Strategic Partnering Agreement. The agreement establishes the principles of cooperation between the two partners for the Attack class Submarine Program. This program will see the delivery of 12 regionally superior submarines to Australia with leading edge capabilities.
Samsung Heavy Industries Co. is not interested in taking part in the race of purchasing Daewoo Shipbuilding & Marine Engineering Co., as its parent Samsung Group doesn’t wish to expand its shipbuilding business, according to Yonhap. Yet, on January 2019 Hyundai Heavy Industries expressed its interest on buying, the second-placed, Daewoo Shipbuilding and Marine Engineering Co Ltd.
Croatia’s shipbuilder Uljanik, who is currently experiencing difficulties, has chosen the domestic shipyard Brodosplit as its partner. As Uljanik informed, the contract will give emphasis on the acceptable and viable restructuring program of Uljanik shipyard. Uljanik is Croatia’s largest shipbuilder, as it has two shipyards in Pula and Rijeka. It has experienced financial troubles and for months it has been searching for a partner to invest in it.
The labour union at Hyundai Heavy Industries, demanded from the company to provide job guarantees to its employees if it wants to go ahead with the takeover of Daewoo Shipbuilding & Marine Engineering. Namely, during January, Korea Development Bank, DSME’s largest shareholder, signed an MoU with Hyundai Heavy Industries to sell its stake.
Japanese engineering company Mitsubishi Heavy Industries, Ltd. (MHI) announced the appointment of Seiji Izumisawa as new President and CEO, effective from 1st April 2019, and as a Chief Strategy Officer (CSO), a role he holds currently.
The French Direction Générale de l’Armement signed a contract for four new Logistic Support Ships for the French Navy, on 30 January 2019. These ships will replace the Navy supply ships currently in service. The first two units will be delivered by 2025. The contract aims to replace the current single-hull oil tankers, with modern, double-hulled and internationally compliant vessels.
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