Deloitte Anjin will determine Sungdong’s liquidation value and going-concern value following the green light from the court.
Hyundai Mipo Dockyard follows similar action taken by Hyundai Heavy Industries in seeking voluntary retirements to deal with dwindling orders.
South Korea’s Ministry of Oceans and Fisheries will provide newbuilding financing as part of a government initiative to assist local shipowners to construct ships in the country’s shipyards.
Japan’s NYK Line will issue USD93.5 million of green bonds for LNG newbuildings and bunkering.
South Korean shipowners Polaris Shipping and Daelim Corporation are likely to make a joint order for two VLOCs to service contracts of affreightment with Brazilian mining giant Vale.
South Korean shipbuilder Hyundai Heavy Industries has set a target of USD65 billion in revenue by 2022 through its focus on high-end ships such as LNG carriers and launching new businesses.
Sovcomflot and Knutsen OAS Shipping each have declared options for a 96,000 m³ LNG carrier at Hyundai Heavy Industries for an undisclosed sum.
Japanese trading house Mitsui & Co has confirmed it has two Kamsarmax bulkers booked at China’s Yangzijiang Shipbuilding, plus two optional vessels.
Still recovering from the global financial crisis of 2008 and the collapse of oil prices in 2014, shipbuilders in China, Japan, and South Korea have consolidated, refinanced, and regrouped to stay afloat.
STX Offshore & Shipbuilding chief pledges to normalise the company within two years, as it aims to secure orders for LNG bunkering vessels and small gas carriers following its narrow escape from court receivership for the second time.