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The Chosun Ilbo News

23 Aug 2022

Shipbuilder DSME Preps Lawsuit Against Striking Contract Workers

(Photo: DSME)

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Wednesday said it is preparing to file a lawsuit for damages against the contract worker union that prevented production in June and July with a 51-day strike.The move could renew friction between the firm and contract workers, who occupied the shipbuilder's main dock to protest, they said, against wages falling behind those of regular workers. Read full storyDetails of the lawsuit have yet to be decided, a Daewoo…

29 Dec 2017

China Denies Selling Oil Illicitly to N.Korea

© Jess Yu / Adobe Stock

China on Friday denied reports it has been illicitly selling oil products to North Korea after U.S. President Donald Trump said he was not happy that China had allowed oil to reach the isolated nation. Trump said on Twitter the previous day that China had been "caught" allowing oil into North Korea and that would prevent "a friendly solution" to the crisis over North Korea's nuclear and missile programmes that it conducts in defiance of heavy U.N. Security Council sanctions. "I have been soft on China because the only thing more important to me than trade is war…

28 Dec 2017

Trump Troubled About Oil Flow into North Korea

© luzitanija/Adobe Stock

U.S. President Donald Trump on Thursday said he was "very disappointed that China is allowing oil to go into North Korea" and that such moves would prevent "a friendly solution" to the crisis over Pyongyang's nuclear program. "Caught RED HANDED - very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!" Trump wrote in a post on Twitter. China earlier on Thursday said there had been no U.N.

27 Dec 2017

Chinese Ships Illegally Selling Oil to North Korea

Images taken on October 19, 2017 depict a recent attempt by Korea Kumbyol Trading Company's vessel Rye Song Gang 1 to conduct a ship-to-ship transfer in an effort to evade sanctions (Photo: U.S. Treasury Department)

U.S. spy satellites have caught Chinese and North Korean ships illegally trading oil on the West Sea 30 times in the last three months, according to South Korean government sources. The reported smuggling comes in the wake of United Nations sanctions banning ship-to-ship trades with North Korea on the high seas since September. But according a report from The Chosun Ilbo, satellites images have since captured more than two dozen illegal transfers and even the names of the ships side by side illegally trading oil.

27 May 2016

Hanjin Vessel Seized in South Africa

Hanjin Shipping-operated bulker Hanjin Paradip has been arrested by a South Africa for alleged unpaid charter fees. The 82,158 dwt bulker, which has been used to transport grain and minerals, was detained in Richards Bay on May 24 due to the unpaid charter fees to an unspecified owner. The owner asked a South African court to impound the ship. The company's severe liquidity shortage has prevented it from paying the charter for months. South Korea's Chosun Ilbo quotes a spokesman saying that charter fees on the ship have gone unpaid because "we have yet to receive the money raised by selling ships and equity. Hanjin Shipping has entered restructuring.

28 Jun 2011

Hanjin Union Ends 190-Day Strike

According to a report from The Chosun Ilbo, the labor union of Hanjin Heavy Industries and Construction's shipbuilding unit agreed on June 27 to end a strike that has lasted for over six months. The company will not rehire laid-off workers, but will compensate them if they voluntarily retire. Both sides also agreed to drop the legal cases against each other.    Source: The Chosun Ilbo

16 Jul 2010

Daewoo Shipbuilding to Buy Stake in S. African Shipper

According to a July 16 report from The Chosun Ilbo, Daewoo Shipbuilding & Marine Engineering said that it has signed a memorandum of understanding to acquire a 49% stake in South African shipping company Impinda. (Source: The Chosun Ilbo)

12 Jan 2010

Korea Shipbuilders Win Orders Worth $1B

According to a Jan. 12 report from The Chosum Ilbo, Korean shipbuilders won new orders worth over $1b in the first 10 days of the new year, in a complete reversal of the situation last year. STX Offshore & Shipbuilding and Hanjin Heavy Industries delivered the good news on Jan. 11, and Daewoo Shipbuilding & Marine Engineering and Sungdong Shipbuilding & Marine Engineering won new orders earlier. Industry insiders said an overseas marketing drive in the second half of last year finally paid off. (Source: The Chosun Ilbo)

29 Sep 2009

Korean Researchers Crack LNG Carrier Problem

According to a Sept. 29 report from The Chosun Ilbo, a research and development team from the Korea Gas Corporation and the three major Korean shipbuilders has developed the core original technology needed to make a liquefied natural gas (LNG) storage tank in an LNG carrier. It is an important achievement since Korean shipbuilders, who are among world's busiest, have had to pay huge sums in royalties to foreign firms because they lacked the core original technology. (Source: The Chosun Ilbo)

19 Jun 2009

Shipbuilding Sees Possible Turning Point

According to a June 19 report from The Chosun Ilbo, STX Offshore & Shipbuilding announced it had won $340m in orders to eight build tankers for an unidentified European company. This includes an option for an additional four depending on progress. This is seen as a possible turning point in a stagnant shipbuilding market where new orders have been drying up since late last year. (Source: The Chosun Ilbo)

27 Mar 2009

February, Two Orders for Korean Shipbuilders

According to a March 26 report from the Chosun Ilbo, Korean shipbuilders received only two orders in February. Global shipbuilding industry researcher Clarkson said only seven shipbuilding contracts were made worldwide last month, with Korea receiving two orders, China four, and Europe one. (Source: The Chosun Ilbo)

02 Mar 2009

Only 9 Ships Built Worldwide in January

A March 2 report from The Chosun Ilbo stated that only nine orders for new ships were made in January worldwide, six percent of last year's 151 ships, according to the global shipbuilding industry researcher Clarkson. (Source: The Chosun Ilbo)

25 Jul 2006

Korean Shipbuilders Place in Top 10 for June Orders

Korean shipbuilders occupied seven out of the top 10 positions in the world last month in terms of orders. Hyundai Heavy Industries was the world’s largest shipyard in terms of order backlog as of late June with 11.74 million compensated gross tons (CGT), British shipbuilding market researcher Clarkson reported. Samsung Heavy Industries came second with an order backlog of 8.27 million CGTs, followed by Daewoo Shipbuilding & Marine Engineering (DSME) with 7.41 million CGTs and Hyundai Mipo Dockyard Co., one of two Hyundai Heavy Industries subsidiaries, with 4.11 million CGTs. Created after a merger of two shipyards in Dalian, China’s Dalian Shipbuilding Industry Corp.

15 May 2006

Daewoo Marine Wins $730m Order

Daewoo Shipbuilding and Marine Engineering announced it won a combined $730m orders to build four ships. They include liquefied natural gas re-gasification vessels (LNG-RV, or LNG carriers equipped with LNG terminals). The shipbuilder won a contract to build two LNG-RV with a capacity of 150,900 §© for Belgium's Exmar Marine N.V. and two large LPG vessels with a capacity of 83,000 §© for Greece's Gulf Marine Management S.A. The LNG-RV that Daewoo is to build is 291x43x26m. They can make some 19.2 knots (36 km/h). (Source: Chosun Ilbo)

19 Apr 2006

Q1 Shipbuilding Orders Hit Record High

According to Chosun Ilbo, Korea's new shipbuilding orders during the first quarter of the year amounted to $12bi, a record high. The orders account for 136 ships or a total volume of 4.9 million CGT, or compensated gross tons. The value of orders during the first quarter saw a 34 percent increase on-year. High value-added vessels like liquefied natural gas carriers and gas containers accounted for 37 ships. (Source: Chosun Ilbo)

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