Mixed fortunes for Korean yards
Article Abstract:
The South Korean shipbuilding industry witnessed a dramatic reversal of its fortunes between 1997, when shipyards were receiving record-breaking order levels, and early 1998, when currency problems drove at least two shipbuilders to bankruptcy. The sharp decline in the value of the won against the US dollar could give Korean shipyards a competitive edge in the long run but is giving them considerable problems regarding survival in the short term. Shipbuilders have generally taken similar measures to respond to the crisis, including managerial pay cuts and labor pay freezes.
Publication Name: Motor Ship
Subject: Transportation industry
ISSN: 0027-2000
Year: 1998
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Private yards prosper
Article Abstract:
The Union Naval de Levante of the Construnaves shipyards of Spain is experiencing a favorable year despite its Valencia yard's mishap in the construction of the vessel "Proof Spirit." The shipyard, which has its order books filled until 1999, has been contracted to build a variety of ships such as cargo, container, and auxiliary vessels. In March 1997, the firm successfully delivered "United Nelly", a chemical tanker for United Tankers. It is also scheduled to deliver two 506 TEU feeder vessels for Comanav of Morocco by march of 1998.
Publication Name: Motor Ship
Subject: Transportation industry
ISSN: 0027-2000
Year: 1997
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- Abstracts: Orders continue to flow. Private yards want Pendik. Boxed in ports plan for expansion
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