Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Friday that it is in talks with the country's leading shipping firm, Hyundai Merchant Marine Co., over the construction of five very large crude carriers.
In a regulatory filing, Daewoo Shipbuilding said the two, however, have yet to reach an agreement on the terms of the deal.
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(Yonhap) |
On Thursday, Hyundai Merchant said it plans to spend 470 billion won ($419 million) to buy five new VLCCs and 182 billion won to acquire two container vessels.
In April, the two signed a letter of intent for the potential deal.
The Daewoo-Hyundai deal is the first under a government-initiated program to revive the shipping industry.
Daewoo Shipbuilding was saved from bankruptcy after its creditors arranged a 6.7 trillion won rescue package. Winning new orders is critical for the shipbuilder who needs to solve its liquidity problems. (Yonhap)
