Korean yards talk down crisis
Article Abstract:
The economic crisis in Korea has affected several industries, including the shipbuilding sector. To cope up with the crisis and maintain the trust of customers, Korean shipyards are implementing several cost-reduction measures such as wage-cutting from 10% to 15%, reducing travel budgets and energy saving. Halla Engineering and Heavy Industries, Hanjin Shipping Co and Samsung are among those most affected by the crisis. Meanwhile, Hyundai and Daewoo claim they are not currently affected but are not ignoring any future possibilities. The International Monetary Fund has granted South Korea a $57 bil loan to help the country get out of the crisis.
Publication Name: Motor Ship
Subject: Transportation industry
ISSN: 0027-2000
Year: 1998
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Eastern yards back on track
Article Abstract:
MTW and Volkswerft, former subsidiary shipyards of Vulkan, have started modernization projects after recovering from financial woes brought by Vulkan's bankruptcy. Both shipyards separated from Vulkan in Apr. 1996 and were placed into a public-owned holding firm, Ostseebeteiligungs gesellschaft. DM1 billion (US$671.8 million) in public funds were infused into the two shipyards to finish modernization programs and maintain shipbuilding operations.
Publication Name: Motor Ship
Subject: Transportation industry
ISSN: 0027-2000
Year: 1996
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US yards invest to compete
Article Abstract:
US shipyards engaged in ship repair, maintenance and conversion are investing heavily in resources, employee training and quality control to enhance their competitiveness in the international arena. In line with this goal, shipyards scattered along the Gulf of Mexico and the Atlantic coast are also aiming to cut costs, improve efficiency levels and integrate operations through the acquisition of management information systems.
Publication Name: Motor Ship
Subject: Transportation industry
ISSN: 0027-2000
Year: 1995
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