Search results for: Big Three

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  • 13 December 2017
    Business & Finance

    Chinese shipbuilders have beaten their Korean counterparts this year having snapped the biggest share of orders.

  • 26 October 2016
    Business & Finance

    South Korean shipbuilder Hyundai Heavy Industries, one of the country’s Big Three shipyards, has managed to stay in the black for the third quarter in a row. According to the company’s stock exchange filing, Hyundai Heavy saw its net income for the third quarter of 2016 at KRW 334.4 billion (USD 294.9 million). Although the figure […]

  • 1 November 2016
    Business & Finance

    The latest merger of liner shipping businesses, revealed by Japan’s Big Three shipping companies yesterday, is further evidence of survival mergers and acquisitions sweeping the industry, according to shipping consultancy Drewry. Namely, the agreement between Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL), and Nippon Yusen Kabushiki Kaisha (NYK Line), subject to resolution by the […]

  • 16 August 2016
    Business & Finance

    South Korea’s Big Three shipbuilders have cut their joint workforce by some 3,000 workers during the first half of the year as the shipbuilding industry was hit by global oversupply and lack of demand, Yonhap News Agency reported. Namely, the country’s shipyards Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME), were […]

  • 3 February 2016

    January was a very slow month for South Korean shipbuilders as the country’s big three failed to book any new ship orders, Yonhap reported citing industry sources. As disclosed, this is the first time that no orders were received in January, despite the fact that this is typically a very slow month with respect to […]

  • 3 January 2018
    Business & Finance

    South Korea’s Big Three shipbuilders bullish on their orderbook expectations for 2018.

  • 31 October 2016
    Business & Finance

    On the back of the deteriorating conditions in the shipping market, Japan’s Big Three shipping companies, Kawasaki Kisen Kaisha (K Line), Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui O.S.K. Lines (MOL), reported losses for the first half of fiscal year 2016 ended September 30. Of the three majors, K Line reported the largest operating […]

  • 29 July 2016
    Business & Finance

    Due to the persistent weakness in freight rates, Japan’s big three shipping companies Nippon Yusen Kabushiki Kaisha (NYK Line), Kawasaki Kisen Kaisha (K Line) and Mitsui O.S.K. Lines (MOL) lowered their full year outlook as they posted first quarter earnings. Nippon Yusen Kaisha (NYK) suffered the worst hit as the company reported a loss of JPY 12.78 […]

  • 10 May 2017

    South Korean big three shipbuilders, Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) have so far this year made a major comeback as owners rushed to avail of attractive VLCC prices.  Namely, John Fredriksen-controlled tanker shipping company Frontline has allegedly ordered two VLCCs from HHI which are scheduled for delivery […]

  • 30 October 2015
    Business & Finance

    Japan’s three largest shipping companies – Mitsui O.S.K. Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line), and Kawasaki Kisen Kaisha, Ltd. (“K” Line) – have downgraded their financial outlooks for the Fiscal Year 2015 mainly due to the tonnage oversupply and the lack of demand in container and dry bulk shipping markets. MOL was also hit by an extraordinary loss […]

  • 29 July 2015
    Business & Finance

    South Korean shipbuilding giants Hyundai Heavy Industries (HHI), Daewoo Shipbuilding and Marine Engineering (DSME) and Samsung Heavy Industries (SHI) suffered extensive losses in the second quarter of 2015 amid dwindling appetite of owners to order new ships. The world’s largest shipbuilder Hyundai Heavy Industries reported a net loss of KRW 242 billion (USD 209 million) in the second […]

  • 29 July 2015
    Business & Finance

    South Korean shipbuilding giants Hyundai Heavy Industries (HHI), Daewoo Shipbuilding and Marine Engineering (DSME) and Samsung Heavy Industries (SHI) suffered extensive losses in the second quarter of 2015 amid dwindling appetite of owners to order new ships. The world’s largest shipbuilder Hyundai Heavy Industries reported a net loss of KRW 242 billion (USD 209 million) in the second […]

  • 30 October 2015
    Business & Finance

    Japan’s three largest shipping companies – Mitsui O.S.K. Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line), and Kawasaki Kisen Kaisha, Ltd. (“K” Line) – have downgraded their financial outlooks for the Fiscal Year 2015 mainly due to the tonnage oversupply and the lack of demand in container and dry bulk shipping markets. MOL was also hit by an extraordinary loss […]

  • 29 January 2016
    Business & Finance

    Japanese three shipping giants have all downgraded their expectations for the full-year consolidated results as they report losses in the third quarter of the fiscal year ending March 31, 2016. Nippon Yusen Kabushiki Kaisha (NYK Line) posted an extraordinary loss resulting from an impairment of fixed assets in its consolidated financial results for the third […]

  • 18 July 2016
    Business & Finance

    Unionized workers at South Korea’s Big Three shipyards – Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI), and Samsung Heavy Industries (SHI), will, together with workers from five other smaller shipyards, go on a joint strike to oppose the recently announced restructuring plans, the Yonhap news agency reports. The partial 4-hour strike is announced for […]

  • 28 April 2016
    Business & Finance

    Japanese big three shipping companies Mitsui O.S.K. Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line) and Kawasaki Kisen Kaisha (K Line) have resumed their string of losses now summed up in their full yearly reports for the fiscal year ending March 31st, 2016. The worst hit was Mitsui OSK Lines (MOL) which booked a full-year loss of […]

  • 31 January 2017
    Business & Finance

    The challenging market conditions in the container shipping industry continued to add pressure to Japan’s three major shipping companies, leading to more losses in the first nine months of fiscal year 2016 ended December 31. Of the three major shipping lines, Nippon Yusen Kabushiki Kaisha (NYK Line) reported the largest net loss for the nine-month […]

  • 1 July 2016
    Business & Finance

    South Korea’s three major shipbuilders could be exempt from the government’s plan to inject KRW 750 billion (USD 653.7 million) into the shipbuilding sector in an effort to prevent major layoffs at over 7,800 companies related to the industry, according to Korea Times. The three cash-strapped shipbuilders, Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo […]

  • 31 July 2018
    Business & Finance

    Japanese shipping majors K Line, NYK Line and MOL reported losses for the first quarter of 2018 fiscal year.

  • 31 October 2019
    Business & Finance

    NYK, MOL and K Line wrapped up the first half of the fiscal year 2019 with a profit.

  • 10 May 2016
    Business & Finance

    Japanese shipping majors Nippon Yusen Kabushiki Kaisha’s (NYK), Mitsui O.S.K. Lines (MOL) and Kawasaki Kisen Kaisha (K-Line) are faced with downgrades by the rating agency Moody’s amid lowered earnings stemming from volatile market conditions. The worst hit was Tokyo-based NYK whose outlook was revised to negative from stable, but with affirmed Baa2 long-term issuer rating. “The […]

  • 6 November 2016
    Business & Finance

    K Line, MOL, NYK to Join Forces in Container Shipping Japan’s big three container shipping companies have agreed to establish a new joint-venture company to integrate their container shipping businesses… Read More Drewry: Big Three’s Liner Merger Is All about Survival The latest merger of liner shipping businesses, revealed by Japan’s Big Three shipping companies […]