Subscribe to our Mailing Lists (It's free!)
Friday, May 30, 2025
SAFETY4SEA
  • Home
  • Safety
    • All
    • Accidents
    • Alerts
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
    schedule

    A testing & inspection schedule for fire protection equipment onboard

    lessons learned

    Lessons learned: Ensure worksite is left safe for other users

    fire protection equipment

    Onboard inspections: 13 fire protection equipment items to check annually

    Yet another commercial vessel gets attacked in the Red Sea

    Russian seafarers evacuated from oil tanker in Yemen

  • SEAFiT
    • All
    • Intellectual
    • Mental
    • Physical
    • Social
    • Spiritual
    culture of respect

    Addressing crew shortage: Establish clear expectations for respectful and professional behaviour

    Book Review: Building leaders the MMMA way

    Book Review: How to avoid a climate disaster

    mental health

    MOL takes step to enhance the mental health of its crew

    Book Review: Building leaders the MMMA way

    Book Review: The Art Of War

  • Green
    • All
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
    biofuels

    Rystad Energy: Biofuel supply is not keeping up with demand

    green shipping recycling

    Asian Shipowners show commitment to HKC compliance

    South Korea electric vessel standards

    South Korea updates electric vessel standards

    Rotor Sails

    Norsepower to equip six newbuild tankers with Rotor Sails

  • Smart
    • All
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
    AI critical thinking

    Shaping the future: Critical thinking in the age of machines

    MASS

    LR: MASS safety hinges on clearly defined operational boundaries

    ammonia

    Companies shake hands to digitalize ammonia bunkering

    digitalization

    New dataset aligned with IMO Compendium post-FAL 49

  • Risk
    • All
    • CIC
    • Detentions
    • Fines
    • PSC Focus
    • Vetting
    NCL Salten

    Inspection onboard NCL Salten reveals deficiencies

    India monsoon

    India: Mooring and anchoring during the Monsoon season

    hull

    Libya mandates underwater hull inspections

    Indian Ocean MoU Annual report

    Indian Ocean MoU PSC Annual Report 2024

  • Others
    • All
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Shipping
    • Sustainability
    • Videos
    schedule

    A testing & inspection schedule for fire protection equipment onboard

    fire protection equipment

    Onboard inspections: 13 fire protection equipment items to check annually

    tariffs Trump

    U.S. appeals court restores President Trump’s tariffs

    black sea

    EU develops strategy to boost Black Sea security and stability

  • Columns
    green shipping

    Decarbonization and emission compliance through efficiency measures

    hurricane

    Marine insurance for ports and shipping amid the looming hurrican threat

    Implementing the Hong Kong Convention: Key considerations

    Implementing the Hong Kong Convention: Key considerations

    Trending Tags

    • Book Review
    • Career Paths
    • Human Performance
    • Industry Voices
    • Interviews
    • Maripedia
    • Maritime History
    • Regulatory Update
    • Resilience
    • Seafarers Stories
    • SeaSense
    • Training & Development
    • Wellness Corner
    • Wellness Tips
  • Events
  • Plus
No Result
View All Result
  • Home
  • Safety
    • All
    • Accidents
    • Alerts
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
    schedule

    A testing & inspection schedule for fire protection equipment onboard

    lessons learned

    Lessons learned: Ensure worksite is left safe for other users

    fire protection equipment

    Onboard inspections: 13 fire protection equipment items to check annually

    Yet another commercial vessel gets attacked in the Red Sea

    Russian seafarers evacuated from oil tanker in Yemen

  • SEAFiT
    • All
    • Intellectual
    • Mental
    • Physical
    • Social
    • Spiritual
    culture of respect

    Addressing crew shortage: Establish clear expectations for respectful and professional behaviour

    Book Review: Building leaders the MMMA way

    Book Review: How to avoid a climate disaster

    mental health

    MOL takes step to enhance the mental health of its crew

    Book Review: Building leaders the MMMA way

    Book Review: The Art Of War

  • Green
    • All
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
    biofuels

    Rystad Energy: Biofuel supply is not keeping up with demand

    green shipping recycling

    Asian Shipowners show commitment to HKC compliance

    South Korea electric vessel standards

    South Korea updates electric vessel standards

    Rotor Sails

    Norsepower to equip six newbuild tankers with Rotor Sails

  • Smart
    • All
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
    AI critical thinking

    Shaping the future: Critical thinking in the age of machines

    MASS

    LR: MASS safety hinges on clearly defined operational boundaries

    ammonia

    Companies shake hands to digitalize ammonia bunkering

    digitalization

    New dataset aligned with IMO Compendium post-FAL 49

  • Risk
    • All
    • CIC
    • Detentions
    • Fines
    • PSC Focus
    • Vetting
    NCL Salten

    Inspection onboard NCL Salten reveals deficiencies

    India monsoon

    India: Mooring and anchoring during the Monsoon season

    hull

    Libya mandates underwater hull inspections

    Indian Ocean MoU Annual report

    Indian Ocean MoU PSC Annual Report 2024

  • Others
    • All
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Shipping
    • Sustainability
    • Videos
    schedule

    A testing & inspection schedule for fire protection equipment onboard

    fire protection equipment

    Onboard inspections: 13 fire protection equipment items to check annually

    tariffs Trump

    U.S. appeals court restores President Trump’s tariffs

    black sea

    EU develops strategy to boost Black Sea security and stability

  • Columns
    green shipping

    Decarbonization and emission compliance through efficiency measures

    hurricane

    Marine insurance for ports and shipping amid the looming hurrican threat

    Implementing the Hong Kong Convention: Key considerations

    Implementing the Hong Kong Convention: Key considerations

    Trending Tags

    • Book Review
    • Career Paths
    • Human Performance
    • Industry Voices
    • Interviews
    • Maripedia
    • Maritime History
    • Regulatory Update
    • Resilience
    • Seafarers Stories
    • SeaSense
    • Training & Development
    • Wellness Corner
    • Wellness Tips
  • Events
  • Plus
No Result
View All Result
SAFETY4SEA

Hyundai Heavy union greenlights wage deal amid deeper loss

by The Editorial Team
February 9, 2018
in Shipping
shipyards mergers

Above image is used for illustration purposes only

FacebookTwitterEmailLinkedin

Thousands of union members at Hyundai Heavy Industries Co. voted in favor of a wage agreement with management, as the company reported a net loss widened to 572.3 billion won in the fourth quarter of 2017, from 351.8 billion won in the red a year earlier, due to declining order backlogs.

South Korea’s largest shipbuilder said that its operating losses came to 342.2 billion won in October through December, compared with an operating profit of 61.2 billion won from a year earlier, while sales fell 32.9% -on year to 3.48 trillion won in Q4, according to Yonhap news agency.

The voting was held at the shipyard in Ulsan, where 56.3% of the 8,724 members who cast ballots voted in favor of the pact signed by workers and the company. This vote meant a consensus between the union and management that they both need to quickly resolve wage deals ahead of future uncertainty. However, more than 1,100 members did not participate in the vote.

 

RelatedNews

Major industry players announce stock-for-stock merger

Drewry: Multipurpose vessel market faces multiple risks

Under the deal, each HHI worker will receive a month of extra salary plus 1.5 million won (USD 1,380) in bonus, with their basic pay frozen for 2016-2017, Yonhap explained. For 2017, the company is offering an additional 1.5 million won in cash to encourage workers to ride out the current slowdown in the industry. They will receive 230% of their monthly salary in performance-based pay for the 2016 fiscal year that ended on May 31 and 97% for the 2017 fiscal year.

The shipbuilder said in early January that it is targeting new orders of USD 13.2 billion worth within 2018, up 76% from last year’s USD 7.5 billion.

In the last years, South Korean shipbuilding industry is hit by a decrease in new orders, as a result from global economic downturn and Chinese competition. In 2017, HHI decided to impose rotational leave scheme for its workers, to tackle the problem of idle workforce, while more recently, it revealed plans to sell USD 1.22 billion new stocks to improve financial situation.

Hyundai Heavy union greenlights wage deal amid deeper lossHyundai Heavy union greenlights wage deal amid deeper loss
Hyundai Heavy union greenlights wage deal amid deeper lossHyundai Heavy union greenlights wage deal amid deeper loss
Tags: HHIshipbuildingshipping marketwages
Previous Post

BP exercises options on Blackford Dolphin semi-submersible drilling rig

Next Post

California to obstruct US offshore oil and gas exploitation program

Related News

tanker
Shipping

BIMCO oil tanker outlook: Uncertainty shakes markets

May 28, 2025
Nakilat
Green Shipping

Steel cut in South Korea for 17 new LNG carriers

May 27, 2025
Baltic Exchange
Shipping

Baltic Exchange: Maritime market highlights 19-23 May

May 23, 2025
Trump tariffs
Shipping

Xeneta: How the tariffs truce impacts transpacific shipping

May 23, 2025
Danish SHipping
Shipping

Danish Shipping: Industry to slightly hold back due to uncertainty

May 22, 2025
Hanwha Philly Shipyard
Shipping

Hanwha to invest $72M on high-tech upgrades in Philly Shipyard

May 21, 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Explore more

No Result
View All Result
MARITIME EVENTS

Explore

  • Safety
  • SEAFiT
  • Green
  • Smart
  • Risk
  • Others
  • SAFETY4SEA Events
  • SAFETY4SEA Plus Subscription

Useful Links

  • About
  • Disclaimer
  • Editorial Policies
  • Advertising
  • Content Marketing
  • Contact

© 2025 SAFETY4SEA

No Result
View All Result
  • Safety
    • Accidents
    • Alerts
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
  • SEAFiT
    • Intellectual
    • Mental
    • Physical
    • Social
    • Spiritual
  • Green
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
  • Smart
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
  • Risk
    • CIC
    • Detentions
    • Fines
    • PSC Case Studies
    • PSC Focus
    • Vetting
  • Others
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Shipping
    • Sustainability
    • Videos
  • Columns
    • Book Review
    • Career Paths
    • Human Performance
    • Industry Voices
    • Interviews
    • Maripedia
    • Maritime History
    • Opinions
    • Regulatory Update
    • Resilience
    • Seafarers Stories
    • SeaSense
    • Tip of the day
    • Training & Development
    • Wellness Corner
    • Wellness Tips
  • SAFETY4SEA Events
  • SAFETY4SEA Plus Subscription

© 2025 SAFETY4SEA

Manage your privacy
We use technologies like cookies to store and/or access device information. We do this to improve browsing experience and to show (non-) personalized ads. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Manage options
{title} {title} {title}
No Result
View All Result
  • Safety
    • Accidents
    • Alerts
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
  • SEAFiT
    • Intellectual
    • Mental
    • Physical
    • Social
    • Spiritual
  • Green
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
  • Smart
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
  • Risk
    • CIC
    • Detentions
    • Fines
    • PSC Case Studies
    • PSC Focus
    • Vetting
  • Others
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Shipping
    • Sustainability
    • Videos
  • Columns
    • Book Review
    • Career Paths
    • Human Performance
    • Industry Voices
    • Interviews
    • Maripedia
    • Maritime History
    • Opinions
    • Regulatory Update
    • Resilience
    • Seafarers Stories
    • SeaSense
    • Tip of the day
    • Training & Development
    • Wellness Corner
    • Wellness Tips
  • SAFETY4SEA Events
  • SAFETY4SEA Plus Subscription

© 2025 SAFETY4SEA