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DAEWOO SHIPBUILDING & MARINE ENGINEERING LTD

Aker Kvaerner Awarded Drilling Equipment Contract

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co Ltd in South Korea for delivery of drilling facilities for an ultra deepwater semi submersible drilling rig ordered by an international drilling contractor. The total contract value for Aker Kvaerner is approximately USD 86 million. The award is based on an option included in a contract Aker Kvaerner signed with Daewoo Shipbuilding & Marine Engineering Co. Ltd in February 2006. The work is undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner MH in Kristiansand. The scope of work for Aker Kvaerner MH is to deliver a complete drilling package including engineering, equipment deliveries and commissioning services. The ultra deepwater semi-submersible drilling rig is scheduled for delivery in 2009. The drilling rig will be designed for world-wide operation in harsh environment, including operation on the Norwegian continental shelf.


Aker Kvaerner Awarded Contract with Daewoo

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co Ltd in South Korea for delivery of drilling facilities for an ultra deepwater semi submersible drilling rig ordered by an international drilling contractor. The total contract value for Aker Kvaerner is approximately $86m. The award is based on an option included in a contract Aker Kvaerner signed with Daewoo Shipbuilding & Marine Engineering Co. Ltd in February 2006


Aker Kvaerner to Deliver Mooring Equipment to Daewoo

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co. Ltd in South Korea for delivery of mooring equipment. The total contract value for Aker Kvaerner is approximately NOK 60 million. The contract involves supply of mooring equipment for two semi-submersible drilling rigs to be built at Daewoo Shipbuilding & Marine Engineering Co. Ltd for the Norwegian rig owner SeaDrill. Four sets of double mooring winches and eigth underwater fairleads will be


Daewoo wins $430m Contract to Build Drill Ship

Daewoo Shipbuilding Marine & Engineering Co., won a $430m order to build an offshore drill ship. The deal from Odfjell Invest Ltd. calls for Daewoo Shipbuilding to deliver the semi-submersible ship by June, 2010, the company said. Daewoo Shipbuilding said that the deal includes an option to build another drill ship. The company won a total of $4.3 billion worth of orders in 2006 to build offshore facilities such as platforms and rigs


Daewoo Shipbuilding Opens N American Plant

According to a report from Steel Guru, Korea based Daewoo Shipbuilding & Marine Engineering and the Premier of Nova Scotia, Canada, celebrated the grand opening of DSME Trenton Ltd on June 14th 2011.   Source: Steel Guru  


Daewoo Shipbuilding to Restructure Following Dramatic Q2 Loss

Firm to sell non-core assets, exit from non-essential businesses; Daewoo reported $2.6 bln operating loss in Q2. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd said on Monday it would sell non-core assets, and shut down or exit non-essential units as part of restructuring after a multi-billion dollar loss in the April-June quarter. Daewoo Shipbuilding late last month reported a provisional second-quarter operating loss of 3.03 trillion won ($2


Daewoo Shipbuilding Wins 606-bln Deal

According to Asia Pulse Data Source, Daewoo Shipbuilding & Marine Engineering Co., has won a deal valued at 606 billion won (US$647 million) to build a drill ship. The deal calls on Daewoo Shipbuilding to deliver the vessel by July 2011, the company said in a regulatory filing, without identifying the customer. Daewoo Shipbuilding has won more than $22 billion worth of contracts so far this year to build 136 vessels.


Posco Seeks Partner for Bid

Doosan Group pulled out of the bidding for Daewoo Shipbuilding, driving down shares of one of the world's biggest shipyards.  South Korean steel maker Posco was reportedly seeking partners to bid for Daewoo Shipbuilding & Marine Engineering in a deal that would value the shipbuilder at as much as $9.6b.  Shares in Doosan Group companies rose after it said it would not bid for Daewoo, easing concerns over the financial health of the conglomerate


Hyundai, 2 Affiliates Go for Daewoo

Hyundai Heavy Industries said it will make an independent bid together with its two affiliates for a controlling stake in Daewoo Shipbuilding & Marine Engineering (DSME), according to Korea Times. The remarks come after SK Energy said it is considering joining a consortium led by POSCO. Industry experts say SK Energy will join the POSCO-led consortium and plans to invest less than about $90m, a token amount for the size of Daewoo Shipbuilding.


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


DSME's Bailout Plan Cleared by Pension Fund

Photo: DSME

 South Korea’s National Pension Service (NPS) agreed to a restructuring of bonds issued by Daewoo Shipbuilding & Marine Engineering (DSME).    Reuters reported that this move is expected to help the world’s largest shipbuilder tide over a financial crisis


Daewoo Shipbuilding Bondholders Okay Bailout Plan

File Image (CREDIT: AdobeStock / (c) Carabay)

Debt-to-equity swap plan is condition of $2.6 bln bailout.   South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Monday won near unanimous approval for a debt-to-equity swap plan in the first three of five bondholder meetings


Daewoo Shipbuilding unlocks $2.6 bln Bailout

File Image (CREDIT: AdobeStock / (c) Carabay)

Bondholders at final meetings agree to debt-to-equity swap; shipbuilder needs about $400 mln in operating funds by April-end.   South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd has won near unanimous agreement from bondholders to swap their debt for equity


DSME Deal Non-starter

File Photo: Daewoo Shipbuilding and Marine Engineering

 The creditors of Daewoo Shipbuilding & Marine Engineering (DSME) still remain undecided over afor the shipyard's latest deal, further complicating troubles for one of the country's major shipyards, Yonhap reported.   DSME  clinched a US$250 million deal to build three very


Daewoo Shipbuilding Seeking Stake Sale in Non-Core Assets

File Photo: Photo: Daewoo Shipbuilding and Marine Engineering

 South Korea's Daewoo Shipbuilding & Marine Engineering Co (DSME)  is accelerating its move to  sell all non-core assets o beef up its financial status amid concerns over a sharp fall in new orders, Yonhap reported quoting industry sources.     


Mega 20,150 TEU Containership Named MOL Triumph

The 20,150 TEU, 400m-long MOL Triumph is scheduled to be delivered March 27. (Photo: Samsung Heavy Industries)

A new 20,150 TEU containership has captured the “world’s largest” title: MOL Triumph, the first in a series of new mega containerships for Japan’s Mitsui O.S.K. Lines, Ltd., (MOL) was named at Samsung Heavy Industries, Ltd.’s (SHI) Geoje, South Korea shipyard.


Daewoo Shipbuilding to Get Fresh $2.6 Bln Bailout

File photo: Daewoo Shipbuilding & Marine Engineering Co Ltd

South Korean state banks are preparing a fresh $2.6 billion bailout for floundering Daewoo Shipbuilding & Marine Engineering Co Ltd, which has built up huge losses from offshore projects and risks missing debt repayments.   Daewoo


Korean Shipyards Cut Costs to Boost Profit

Photo: Hyundai Heavy Industries

 South Korea's Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) said that they will strive to boost their profitability via increased orders and continued cost-cutting measures, reports Yonhap.   According to Park Dae-young, president of SHI


ABB to Power and Remotely Monitor LNG FSRU Vessel

Photo courtesy of ABB

ABB will supply the power and electric propulsion system to a new Floating Storage and Regasification Unit (FSRU) for BW Group, which will also be remotely connected to ABB’s Collaborative Operations Centers.    The equipment onboard will provide data to the shore-side Centers


60 Liebherr Ship Cranes for Yamalmax Newbuilds at DSME

Photo: Liebherr

First vessel with four units of Liebherr CBW 2100 commissioned for deep temperature operation; 14 more ships assigned for Dynagas LTD, Teekay und MOL until 2019   Liebherr’s ship crane department has secured orders to equip 15 new vessels of the South Korean shipyard Daewoo


MHI Pact for Domestic Shipbuilders on Forming Alliances

Pic: Mitsubishi Heavy Industries

 Mitsubishi Heavy Industries (MHI) has reached basic agreements with Imabari Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. in the wake of ongoing discussions focused on forming alliances in the commercial ship business. Discussions toward concluding a similar alliance with Oshima


MHI, Shipbuilders Form Alliances

Mitsubishi Heavy Industries, Ltd. (MHI) has reached basic agreements with Imabari Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. in the wake of ongoing discussions focused on forming alliances in the commercial ship business. Discussions toward concluding a similar alliance with Oshima


Daewoo to Deliver Two More LNG Tankers in 2017

South Korea's Daewoo Shipbuilding expects to deliver two more ice-class tankers to lift liquefied natural gas (LNG) from Russia's Yamal LNG project this year, a company spokesman said on Monday. Daewoo Shipbuilding & Marine Engineering (DSME)


VLCC Compressor System Contracts to TMC

International compressor supplier TMC Compressors (TMC) has been awarded a contract to supply complete marine compressed air systems for two very large crude carriers (VLCC) currently being built by Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea.   


TMC Compressors for FRSU Newbuild

International compressor supplier TMC Compressors (TMC) said it has been awarded a contract by Daewoo Shipbuilding & Marine Engineering (DMSE) to supply a marine compressed air system to a newbuild floating storage and regasification unit (FRSU).   






 
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