South Korea LNG loan
June 1 (LNGJ) - The Korea Development Bank said it lent 480 billion Korean won ($388M) along with several other banks to the South Korean shipyard, Hyundai Heavy Industries, as part of its pro-environment “green loans” programme. The other banks involved included UK-based HSBC and ICBC, a KDB affiliate.
“Green loans usually are offered to finance eco-friendly projects, such as LNG carriers, renewable energies and high-efficient energies,” said a statement. Hyundai Heavy will use the funds from the loan to develop technologies for LNG carriers.
South Korea maintains edge over China and Japan on LNG carriers ahead of yards merger
South Korea said the nation’s shipbuilders are maintaining their competitive edge over China and Japan in orders so far this year for high-value ships such as liquefied natural gas carriers and very large crude carriers as the merger of Hyundai Heavy Industries and Daewoo Shipbuilding and Marine Engineering remains on track.
Doubts cast by Korea Development Bank over success of merger plan for LNG carrier builders
South Korea’s shipbuilding industry, the largest global constructor of LNG carriers, has just over a 50-50 chance of seeing the conclusion of a proposed merger between two of the nation’s three largest shipbuilders, Hyundai Heavy Industries and Daewoo Shipbuilding and Marine Engineering.
South Korea proceeds with consolidation of shipbuilding to compete in LNG and tankers
South Korea’s shipbuilding industry, the largest builder of LNG carriers, is advancing with plans for consolidation and an overhaul organized by state-run Korea Development Bank, with Hyundai Heavy Industries, the world's largest shipbuilder by sales, being offered the bank’s controlling stake in Daewoo Shipbuilding and Marine Engineering.
