Hyundai Heavy Industries

Saudi Aramco-Hyundai In $5.2 Bn Shipyard Deal

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Saudi Aramco is to build the region’s biggest shipyard in a $5.2 billion joint venture with South Korea’s Hyundai Heavy Industries and others, the partners said on Wednesday. The yard, to be constructed on the kingdom’s Gulf coast, will have the capacity to produce four offshore rigs and 40 vessels, including three supertankers, a year, … Read more

S.Korea Throws Shipbuilder Daewoo New $6 Bn Lifeline

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South Korea offered troubled Daewoo Shipbuilding & Marine Co. a new $6 billion bailout on Thursday, as the giant firm’s financial crisis worsens. Daewoo is the world’s largest shipyard in terms of its order book and was previously given a 4.2 trillion won ($3.8 billion) aid package in 2015. It is majority-owned by state-owned banks. … Read more