Korea’s 3 Major Shipbuilders on Track for Meeting Annual Order Goals

Korea’s three major shipbuilders are likely to attain their new order targets for this year. Currently, they have achieved 60% to 70% of their annual goals. They believe they will have no problems in meeting their goals as new orders tend to be concentrated in the second half and at the end of the year.
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South Korea’s crude oil imports from Iran dropped 45.8% year on year in July in the wake of the re-imposition of US sanctions, while intakes from Kazakhstan, the US and Mexico jumped as alternative sources. The Northeast Asian country imported 6.2 million barrels of crude from Iran last month, compared with 11.44 million barrels a
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State-run Korea Gas Corp (KOGAS) is in talks to buy 12 liquefied natural gas (LNG) cargoes for delivery in the winter months, two industry sources said. The company is still in discussion with sellers and is yet to award the contract, one of the sources familiar with the matter told Reuters. The cargo delivery period
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The Union Cabinet, chaired by the Prime Minister, has given its ex-post facto approval to the Memorandum of Understanding (MoU) between India and Korea on Trade Remedy Cooperation. The MoU was signed in July 2018 during the state visit of the President of Korea to India. The MoU will promote cooperation between the two countries
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SEOUL: The newly launched Korea Ocean Business Corporation announced support for 10 small to medium shipping lines to help revive the Nation’s maritime sector. Local news report states that the state-run corporation will provide sale and lease back assistance for 10 vessels, a move designed to give the companies fresh funds without business disruption. The
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Korean shipbuilders posted operating losses in the second quarter amid a slow recovery in demand for ships and a rise in material prices. Hyundai Heavy Industries on Monday posted 175.7 billion won ($154.8 million) in operating losses during the second quarter. It is the third consecutive quarter that the shipbuilder has posted an operating loss.
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South Korea imported 8.22 million mt of thermal coal in June, down slightly from the 8.24 million mt it imported in May and the lowest monthly total since October 2017, according to customs data. The June total was also down 6.8% from the year ago month. While imports from the key origins of Indonesia, Australia,
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NEW DELHI: India and South Korea signed 11 agreements recently to expand business ties and more than double mutual trade to $50 billion by 2030. Bilateral trade between the world’s seventh and 11th largest economies rose by nearly a quarter to $20.8 billion in the 2017/18 fiscal year that ended in March, with $16.4 billion
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NEW DELHI: India and South Korea will reduce duties on 11 tariff lines in a bid to expand bilateral trade by updating their existing free-trade agreement, called the comprehensive economic partnership agreement (CEPA). “Both countries have agreed to tariff concessions on 11 lines,” said an official in the know of the details. The revised CEPA
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Wan Hai Lines has announced the launch of the Japan-Korea-Haiphong (JKH) service on April 22, 2018. This new service will help to extend Wan Hai Lines’ network by providing direct service from Japan, Korea to Haiphong. The service will be jointly operated by WHL and IAL using 3 vessels with nominal capacity of 1,800 TEUs.
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