World News
HHI-HMD Merger Set for December as South Korea Targets Global Shipbuilding Edge
South Korea’s HD Korea Shipbuilding & Offshore Engineering (HD KSOE) is pressing ahead with a major restructuring of its shipbuilding business to strengthen global competitiveness.
As part of the plan, HD Hyundai Heavy Industries (HHI) and HD Hyundai Mipo Dockyard (HMD) are set to merge this December in a bid to rival Chinese and Japanese yards, it said in an announcement on Wednesday.
The boards of HHI and HMD approved the deal on Wednesday, with the integration to be finalised after an extraordinary general meeting and regulatory review.
The two yards will relaunch as a consolidated HHI.
The move aims to generate synergies across technology, facilities and workforce, positioning the new entity to win more orders in both commercial and defence shipbuilding.
China and Japan, Korea’s closest competitors, have already completed similar consolidations, intensifying pressure on Korean yards to scale up.
HHI expects the merger to deliver a stronger foothold in naval shipbuilding, combining its track record in defence exports with HMD’s dock capacity and workforce.
It also plans to accelerate the development of eco-friendly vessels by pooling research and design resources.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.50 | 0.50 | 652.00 | 0.00 |
| Rotterdam | 474.50 | 2.50 | 655.00 | 0.50 |
| Houston | 491.00 | 0.50 | 664.00 | 3.50 |
| Fujairah | 504.00 | 2.50 | 731.00 | 0.50 |
| Global 20 Ports Average | 529.00 | 1.00 | 745.50 | 0.50 |
| Global 4 Ports Average | 493.00 | 1.00 | 675.50 | 1.00 |
| Global Average Bunker Price | 558.00 | 10.50 | 794.50 | 0.50 |
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