Korean shipbuilders merge; ripples reach Singapore
Mega-merger sparks talk of more contracts for local yards, as well as possibility of similar unions
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SOUTH Korea's giant merger between the world's two largest shipbuilders could shake up Singapore-listed yard and offshore players in more ways than one, aside from the oft-speculated but yet-to-materialise consolidation here.
For one, the leading offshore firms and shipbuilders on the Singapore Exchange could land more jobs as South Korean stalwarts Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME) iron out the creases that will likely arise over the integration process.
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