• South Korea to combine world’s two biggest shipbuilders in $2 billion deal | Reuters

    Hyundai Heavy Industries, the world’s biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market.


  • Fire-Stricken Maersk Honam to Be Rebuilt in South Korea – gCaptain

    Maersk Honam pictured at Jebel Ali following the completion of the cargo discharge operation.Photo: Maersk

    Maersk Line has confirmed plans to rebuild the Maersk Honam in South Korea.

    In an emailed statement on Monday, Maersk revealed that a portion of the vessel will be transported by heavy-lift vessel to Hyundai Heavy Industries where it will be rebuilt. The transport of the vessel will take place in February 2019.

    The vessel has now been cut into two parts at the Drydock World Dubai (UAE).

    According to Maersk, the 228.5-meter-long sound section, from midship to stern, will be transported aboard the heavy-lift vessel Xin Guan Hua to South Korea. It is expected to deliver the section at Hyundai Heavy Industries Shipyard in March 2019, the same yard the vessel was built in, where it will be rebuilt with a new forward section.

    The former forward section, which includes the accomodation block, will be safely moored at Drydock World Dubai for continued removal of damaged containers and debris. Once cleaned, it will be recycled, Maersk said.

    The company added relevant recycling options are currently being investigated and evaluated.
    The rebuilt vessel is expected to resume service again in the second half of 2019.

  • Coût du travail trop élevé, poids des syndicats trop lourd, vous êtes bien en … Corée.
    Fin du miracle…
    Empty shipyard and suicides as ’Hyundai Town’ grapples with grim future | Reuters

    In many ways, the challenges facing Ulsan mirror those faced in the American Midwest in the 1970s and 1980s, when the once prosperous industrial heartland was hit by massive job and population losses.

    Some experts and industry executives warn Ulsan - home to the world’s biggest shipbuilder and largest carmaking complex - might be South Korea’s ‘Rust Belt’ in the making.
    Ulsan accounted for 12 percent of South Korea’s exports last year, the lowest since 2000 and down from its peak of 19 percent in 2008, according to customs data
    Taxi drivers have been told by police not to drop people off on Ulsan’s newly built bridge after three people killed themselves there in just one month.

    –People believed that if they work hard, they will be better off, and if their children study hard, they will be better off,
    –” said Park Sang-hoon, an official at an Ulsan suicide prevention center. “Confronting a different reality now, it seems that many of them are getting to a point of hopelessness, and some are even making extreme choices.

    After massive shipbuilding job losses, auto workers fear it could be their turn next.
    Executives say that’s necessary because of high labor costs and strong unions at home.

    But workers say many of Hyundai’s problems are its own making, like failing to forecast a SUV boom in the key U.S. market and missing the shift to electric cars.

  • La #concurrence est rude dans la #construction #navale #asiatique entre le #Japon, la #Chine et la #Corée du Sud.
    The #competition is rough in #asian #shipbuilding between #Japan, #China and #South #Corea

    Cet article des Nikkei staff writers nous présente la situation critique de l’#industrie navale asiatique.
    Publié le 24/03/2018
    Vu le 03/06/2018

    Unless we do something, the ailing industry will get even worse" - Yasuhiko Katoh, président de la Shipbuilders’ Association of Japan

    Alors que l’industrie se porte déjà mal que ce soit pour la Daewoo Shipbuilding & Marine Engineering de Corée du Sud, deuxième plus importante mondiale, la China State Shipbuilding (CSSC), une des deux principales du pays ou de manière générale en ce qui concerne l’industrie navale et l’industrie #lourde au Japon. Pour ce dernier cette industrie avait été expansive dans les années 90’ mais a chuté en 2017 alors que la Corée du Sud c’est améliorée #technologiquement, c’est alliée à Hyundai Heavy Industries et que ses #bateaux apparaissent moins couteux que ceux du Japon sur le #marché aux même titre que ceux de la Chine. De ce fait malgré la situation difficile des trois pays sur le marché naval aucun accord n’est décidé et la #concurrence reste rude. Les #constructeurs japonais tentent alors de s’étendre en #outre-mer avec Mitsui E&S Shipbuilding et Tsuneishi Shipbuilding, ou de se plaindre de la Corée du Sud la World #Trade Organization.

  • Car Carrier Catches Fire at Port of Incheon, South Korea -Incident Video – gCaptain

    A Panama-flagged car carrier caught fire Monday while docked at the Port of Incheon in South Korea.

    Officials said the fire broke out at about 9:40 a.m. local time in the cargo area of the vehicle carrier, which was loaded with about 2,000 vehicles bound for Libya at the time.

    The ship has been confirmed as the 52,000-ton, 200-meter-long Auto Banner.
    The Port of Incheon is South Korea’s second busiest port and in 2016 it handled more than 20% of the countries used-vehicle exports.

    The Hyundai Glovis-operated Auto Banner was built in 1988 and has capacity for about 6,022 AEU (Automobile Equivalent Units).

  • New York : Barnard College Votes For BDS By 64%-To-36% Margin – The Forward

    One Of The Most Jewish Colleges In The Country Just Voted For BDS By Nearly 2-1 Margin
    Read more:

    Students at Barnard College, the elite women’s school in New York City, voted this week to ask the university administration to divest from eight companies that do business in Israel.

    The referendum, which was written by students from Jewish Voice for Peace and Students for Justice in Palestine, listed ways that companies like Hyundai, Boeing and the Israeli national water carrier Mekorot allegedly violate international law, before asking whether the student government should encourage Barnard to divest from companies that “profit from or engage in the State of Israel’s treatment of Palestinians.”

    The 64%-36% victory for the boycott, divestment and sanctions campaign came at what Hillel International describes as the most heavily Jewish school in the country that is not officially Jewish. There are approximately 850 Jewish students at Barnard out of a total undergraduate population of around 2,500. Some 1,153 participated in the vote.

  • Construction begins on Saudi Aramco shipyard joint venture

    Construction work has begun on a joint venture to build a shipyard on Saudi Arabia’s eastern coast, oil rig builder Lamprell Plc said in a statement on Friday.

    The joint venture, International Maritime Industries (IMI), started operations after reaching agreement for a loan from the state-backed Saudi Industrial Development Fund (SIDF), the statement said.

    The SIDF agreed in principle last year to provide 3.75 billion riyals ($1 billion) in financing for the project.

    IMI is a partnership between United Arab Emirates-based Lamprell, state oil giant Saudi Aramco, National Shipping Co of Saudi Arabia (Bahri) and South Korea’s Hyundai Heavy Industries Co.

    An Aramco executive will be chief executive of the project, which Aramco has previously said will cost more than 20 billion riyals ($5.3 billion).

    Lamprell’s anticipated total equity contribution over the construction period is up to $140 million, the statement said.

    The nearly 12 million square-meter facility is planned to have an annual capacity to manufacture four offshore rigs and over 40 vessels, including three Very Large Crude Carriers (VLCCs), and service over 260 maritime products.

    #Ras_Al-Khair cf.

  • #CMA_CGM Preparing Order for 22,000 TEU Containerships -Reports – gCaptain
    Photo : CMA CGM
    (le CMA CGM Rodolphe, seulement 11000 TEU)

    CMA CGM is rumored to be on verge of placing a massive order for the construction of up to nine 22,000 TEU containerships, which if built would be the largest in the world.

    According to several reports, South Korea’s Hyundai Heavy Industries is competing with a shipyard in China for the contract to build the ships. Reports say the order, which could finalized in the new few weeks, will consist of six 22,000 TEU newbuildings with options for three additional vessels.

    CMA CGM is not responding to request for comments about the rumors, but it is also not denying them.

    #22000_TEU #conteneurs #ContainerShip

    • Et donc, logiquement, on voit réapparaître les problèmes d’#assurabilité (outre la surcapacité actuelle…)

      Insurers grow #twitchy as containerships get bigger and cargo more valuable - The Loadstar

      Notwithstanding liner industry concerns that the sector is already overtonnaged, the prospect of yet more behemoths being put into service has reignited the concerns of insurers.

      In a LinkedIn post today, Michael Hauer, head of marine reinsurance for the Singapore branch of Munich RE, says the insurance industry needs to try to understand the likely exposure when – not if – a ULCV gets into trouble.

      Indeed, when the 2008-built 8,110 teu MOL Comfort broke its back off the coast of Yemen in 2008, resulting in a total loss of the ship and 4,380 containers, the insured cargo loss was reported at some $300m.

      Marine insurers typically calculate their average exposure per box at $50,000-$100,000, but Mr Hauer said amounts recorded for single containers lost from the MOL Comfort were considerably higher.

      Mr Hauer said the growth in size of containerships, more than double in the last decade or so, also means that historical large loss values “must be called into question”.

      cf. #MOL_Comfort

  • Hyundai Heavy Lands $650 Million Ship Order from Iran -Yonhap – gCaptain

    South Korean shipbuilder Hyundai Heavy Industries Co Ltd received a $650 million order to build 10 ships for Iran’s state-owned shipping company, South Korea’s Yonhap News Agency reported on Saturday, citing a Hyundai Heavy spokesman.

    The company will build container ships and tankers for Islamic Republic of Iran Shipping Lines, with delivery starting in 2018, Yonhap cited the spokesman as saying. The number of each type of ship was not disclosed.

    The deal was signed on Friday and was the first shipbuilding order by the Iranian firm since the lifting of international sanctions, Yonhap said.

  • Maersk, #Hyundai_Merchant_Marine alliance talks in doubt | Reuters

    Doubts about the future of Hyundai Merchant Marine Co Ltd surfaced on Friday after Denmark’s Maersk Line said the South Korean shipping firm was no longer being considered for the 2M vessel-sharing alliance.

    Joining an alliance with major shipping firms was one of the conditions of a debt restructuring deal between heavily indebted Hyundai Merchant Marine and its creditors in May so any breakdown in talks could raise serious questions about the future of South Korea’s largest shipping firm.

    Maersk Line, part of A.P. Moller-Maersk, said it was still in talks with Hyundai Merchant Marine but they were no longer about it becoming an operating partner in the alliance. Hyundai, however, said separately that it was still negotiating to join 2M.

    Annonce de gros temps dans le #transport_maritime et le monde du #container ?

    • Bon, partenaire mais pas membre de l’alliance…
      2M ne veut visiblement pas prendre de risques.

      Hyundai Merchant Marine forms tie-up with 2M alliance | Reuters

      Heavily indebted South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) said on Sunday it has agreed with the 2M shipping alliance to form a cooperative relationship that falls short of full-fledged membership.
      Its main creditor, the state-backed Korea Development Bank, said it had not yet decided its position on the agreement but it was looking at it “in a positive light”.
      The new three-year tie-up, called “2M+H Strategic Cooperation”, is a “slot exchange and purchase agreement”, under which surplus capacity can be shared or traded, HMM said.

  • A Single Vessel Is Behind Canada’s Largest-Ever Trade Deficit - Bloomberg

    Blue Marlin arrives in Bull Arm, Trinity Bay, Newfoundland carrying the 30,000 tonne module from South Korea, Sept. 2, 2016.
    Photo: Hebron Project

    Canada posted its largest trade deficit on record in September, a whopping C$4.1 billion ($3 billion) — and a single piece of equipment is to blame.

    A heavy-load carrier arrived at Bull Arm, Trinity Bay in Newfoundland on Sept. 2, after a voyage from South Korea that began in June.

    You’ll note that the 224.8 meter-long vessel had to sail around Africa rather than go through the Suez Canal, due to its size and cargo.
    The Blue Marlin, as the vessel is known, was carrying a 30,000 tonne utilities and process module made by Hyundai Heavy Industries. The module, which had been under development since 2013, will be used in the Hebron offshore-oil project off the coast of Newfoundland and Labrador.

    Exxon Mobil Corp. has the largest interest in this project; co-venturers include Chevron Corp., Suncor Energy Inc., Statoil ASA, and Nalcor Energy Corp. The field has been estimated to contain more than 700 million barrels of recoverable resources.

    The arrival of this module helped push the imports of industrial machinery, equipment and parts up by C$2.9-billion in September, according to Statistics Canada, meaning the nation’s trade deficit excluding this increase would have totaled C$1.2 billion for the month — an even smaller gap than the C$1.7 billion deficit that economists had been estimating.

  • US Officials Ask How ISIS Got So Many Toyota Trucks - ABC News

    U.S. counter-terror officials have asked Toyota, the world’s second largest auto maker, to help them determine how ISIS has managed to acquire the large number of Toyota pick-up trucks and SUVs seen prominently in the terror group’s propaganda videos in Iraq, Syria and Libya, ABC News has learned.

    Toyota says it does not know how ISIS obtained the vehicles and is “supporting” the inquiry led by the Terror Financing unit of the Treasury Department — part of a broad U.S. effort to prevent Western-made goods from ending up in the hands of the terror group.

    “We briefed Treasury on Toyota’s supply chains in the Middle East and the procedures that Toyota has in place to protect supply chain integrity,” said Ed Lewis, Toyota’s Washington-based director of public policy and communications.

    Toyota has a “strict policy to not sell vehicles to potential purchasers who may use or modify them for paramilitary or terrorist activities,” Lewis said. He said it is impossible for the company to track vehicles that have been stolen, or have been bought and re-sold by middlemen.

    Obtained by ABC News
    ISIS militants race through Raqqa in a propaganda training film released online in September 2014.more +
    Toyota Hilux pickups, an overseas model similar to the Toyota Tacoma, and Toyota Land Cruisers have become fixtures in videos of the ISIS campaign in Iraq, Syria and Libya, with their truck beds loaded with heavy weapons and cabs jammed with terrorists. The Iraqi Ambassador to the United States, Lukman Faily, told ABC News that in addition to re-purposing older trucks, his government believes ISIS has acquired “hundreds” of “brand new” Toyotas in recent years.

    “This is a question we’ve been asking our neighbors,” Faily said. “How could these brand new trucks... these four wheel drives, hundreds of them — where are they coming from?”

    ISIS propaganda videos show gunmen patrolling Syrian streets in what appear to be older and newer model white Hilux pick-ups bearing the black caliphate seal and crossing Libya in long caravans of gleaming tan Toyota Land Cruisers. When ISIS soldiers paraded through the center of Raqqa, more than two-thirds of the vehicles were the familiar white Toyotas with the black emblems. There were small numbers of other brands including Mitsubishi, Hyundai and Isuzu.

    “Regrettably, the Toyota Land Cruiser and Hilux have effectively become almost part of the ISIS brand,” said Mark Wallace, a former U.S. Ambassador to the United Nations, who is CEO of the Counter Extremism Project, a non-profit working to expose the financial support networks of terror groups.

    “ISIS has used these vehicles in order to engage in military-type activities, terror activities, and the like,” Wallace told ABC News. “But in nearly every ISIS video, they show a fleet — a convoy of Toyota vehicles and that’s very concerning to us.”

    Toyota says many of the vehicles seen in ISIS videos are not recent models. “We have procedures in place to help ensure our products are not diverted for unauthorized military use,” said Lewis, the Toyota executive.

    But, Lewis added, “It is impossible for Toyota to completely control indirect or illegal channels through which our vehicles could be misappropriated.”

    Questions about the ISIS use of Toyota vehicles have circulated for years. In 2014, a report by the radio broadcaster Public Radio International noted that the U.S. State Department delivered 43 Toyota trucks to Syrian rebels. A more recent report in an Australian newspaper said that more than 800 of the trucks had been reported missing in Sydney between 2014 and 2015, and quoted terror experts speculating that they may have been exported to ISIS territory.

    Attempts to track the path of the trucks into ISIS hands has proven complicated for U.S. and Iraqi officials.

    Toyota’s own figures show sales of Hilux and Land Cruisers tripling from 6,000 sold in Iraq in 2011 to 18,000 sold in 2013, before sales dropped back to 13,000 in 2014.

    Brigadier General Saad Maan, an Iraqi military spokesman, told ABC News he suspects that middlemen from outside Iraq have been smuggling the trucks into his country.

    “We are spending our time to fight those terrorists so we cannot say we are controlling the border between Iraq and Syria,” he conceded. “We are deeply in need for answers.”

    In a statement to ABC News, Toyota said it is not aware of any dealership selling to the terror group but “would immediately” take action if it did, including termination of the distribution agreement.

    Toyota distributors in the region contacted by ABC News said they did not know how the trucks reached ISIS.

    Sumitomo, a Japanese conglomerate that ships vehicles to the region, wrote to ABC News, “In terms of how anyone operating outside of the law obtain vehicles for misappropriation, we have no way to know and therefore cannot comment.”

    A spokesman for former owners of the Toyota dealership in Syria said its sales operation was halted in 2012.

    The former owners, a Saudi company called Abdul Latif Jameel, said it “made the decision to cease all trading activities in the country and fully divested the business in October, 2012,” according to a spokesperson.

    Wallace, of the Counter Extremism Project, said his organization wrote directly to Toyota earlier this year to urge the company to do more to track the flow of trucks to ISIS, and noted that the trucks are stamped with traceable identification numbers.

    “I don’t think Toyota’s trying to intentionally profit from it, but they are on notice now and they should do more,” Wallace said. “They should be able to figure it out... how are these trucks getting there. I think they should disclose that, put a stop to that, and put policies and procedures in places that are real and effective to make sure that we don’t see videos of ISIS using Toyota trucks in the future.”

    Earlier this year, Toyota responded to Wallace’s organization with similar language the company has used to answer questions from ABC News, writing that Toyota stopped entirely its sales of vehicles in Syria several years ago.

    Toyota told ABC News that after company officials briefed the U.S. Treasury team and that Treasury indicated the meeting was “helpful.”

    “We cannot provide further details of our interaction with Treasury as we do not want to compromise its efforts to understand and prevent diversion, or make it easier for illicit groups to penetrate our supply chains or those of any other company,” Lewis said.

    Treasury officials told ABC News they could not comment publicly about the agency’s engagement with specific private companies. But in response to questions about Toyota, the officials said investigators are “working closely with foreign counterparts and stakeholders” on the issue.

    ABC News’ Randy Kreider and Mazin Faiq contributed to this report.

  • Hyundai Merchant Rises as It’s Said to Assess Hanjin Assets - Bloomberg

    Financial institutions that provided money to Hanjin specifically to buy carriers have approached Hyundai Merchant for sale of its vessels, mostly container ships, people with direct knowledge of the matter said, asking not to be identified, as the talks are private. Korea Development Bank — the largest shareholder of Hyundai Merchant and the biggest lender to Hanjin — and the Seoul Central District Court have been pushing to find a solution to the troubles at Hanjin, whose filing for bankruptcy protection last month has roiled the global supply-chain industry.

    Bref, la KDB, principal créancière de Hanjin Shipping dont elle a provoqué la faillite, suggère à Hyundai Merchant dont elle est le principal actionnaire de racheter les actifs (navires) d’Hanjin.

    Transparence sud-coréenne…

  • Hanjin Ships Get Stranded in High Seas, Roiling Supply Chain - Bloomberg

    Hanjin Shipping Co.’s vessels are getting stranded at sea after the South Korean container mover filed for court protection, roiling the supply chain of televisions and consumer goods ahead of the holiday season.
    LG Electronics Inc. is trying to find new carriers for its goods, the world’s second-largest manufacturer of televisions said. Shipments through Hanjin account for between 15 percent and 20 percent of LG’s deliveries to America. Hyundai Merchant Marine Co., the nation’s second-biggest container line, stepped in, saying it plans to add 13 more vessels to ease the squeeze.


    • Marooned Hanjin vessels spark shipping crisis | Daily Mail Online

      Forty-five of our 144 vessels are unable to operate in the normal fashion in some 10 countries,” a Hanjin spokesman told AFP.

      Some of them are being impounded, others being barred from docking or discharging,” he said.

      Hanjin’s vessels, sailors and cargo are stuck in a maritime limbo as ports, wary they will not be paid for their services, refuse to let them dock, as well as refusing to handle or free cargo already landed.

      Also effected are ships not owned by Hanjin but contracted by it or those belonging to its alliance members, along with cargo and containers on board those vessels.

      US retailers, bracing for fall-out from Hanjin’s woes as they stock up for the crucial Christmas holiday sales season, have asked Washington to step in and help resolve a growing crisis, the Wall Street Journal reported Thursday.

      10 Hanjin vessels were either seized or denied access at Chinese terminals in Shanghai and Tianjin over the past 48 hours, according to local media reports, with another vessel seized in Singapore earlier the week.

      An estimated 540,000 containers are expected to face delivery delays, according to the reports.

    • Hanjin bankruptcy causes global shipping chaos, retail fears | Daily Mail Online

      Three Hanjin container ships, ranging from about 700 feet to 1,100 feet (213 meters to 304 meters) long, were either drifting offshore or anchored away from terminals on Thursday. A fourth vessel that was supposed to leave Long Beach on Thursday morning remained anchored inside the breakwater.

      The Seoul-based company said Friday that one ship in Singapore had been seized by the ship’s owner. Hanjin Shipping spokesman Park Min did not confirm any other seizures.

      As of Friday, 27 ships had been refused entry to ports or terminals, she said.

      That left cargo headed to and from Asia in limbo, much to the distress of merchants looking to stock shelves with fall fashions or Christmas toys. “Someone from the garment industry called earlier today asking: ’How long is this going to go on, because I’ve got clothing out there,’” Louttit said.

    • U.S. Firms Take Action Against Hanjin As Vessels Are Denied at Ports

      Roughly half of Hanjin Shipping’s container vessels have been blocked from ports since the South Korean firm’s collapse, putting manufacturers and their customers increasingly on edge about the fate of cargo and spikes in freight costs.

      Woes for world’s seventh-largest container shipper have only deepened since its banks withdrew support and it filed for court receivership this week. One vessel has also been seized by a creditor in Singapore while firms in the U.S. have launched legal action against Hanjin to seize vessels and other assets over unpaid bills.

      The potential for cargo to be stranded, perhaps indefinitely, is unnerving for many – particularly as industry insiders and analysts believe that Hanjin has little chance of being rehabilitated and its assets will eventually be liquidated.
      Hanjin accounts for 7.8% of trans-Pacific trade volume for the U.S. market and has a global client base. Of 8,281 owners of goods to be transported as of late August, 847 were South Korean firms, according to government data.

  • The World’s Top Three Shipyards Want to Raise $7.3 Billion in Revamp - Bloomberg

    The world’s three biggest shipyards, battered by the deepest industry slump in at least two decades, are getting a helping hand — from the state.

    South Korea’s government is at the forefront of efforts to revive the shipbuilders, which employ almost 62,000 people, or 1.4 percent of the nation’s manufacturing sector workforce. After pledging active steps in April to help the sector weather the slowdown, policy makers in Seoul on Wednesday announced an 11 trillion-won ($9.5 billion) fund to help lenders absorb losses.

    For their part, Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. unveiled plans to raise a combined 8.41 trillion won selling assets as part of the restructuring. The companies have struggled with losses and mounting debt after a slide in crude oil prices, which more than halved in the past two years, prompted customers to slash investments, and cancel or postpone projects.

    • UPDATE 3-S.Korea creates $9.5 bln fund for banks exposed to shipyard troubles | Reuters

      South Korea’s government and central bank will create an 11 trillion won ($9.50 billion) fund to support two state-run banks most exposed to the country’s struggling shipping and shipbuilding firms.

      Our key industries like shipping and shipbuilding are being aggressively caught up by countries like China and management conditions have worsened due to weak global trade,” Finance Minister Yoo Il-ho said in a speech announcing the corporate restructuring plans on Wednesday.

      South Korea expects a 20 percent drop in major shipbuilders’ capacity and a 30 percent drop in their workforce by 2018 from 2015, after the restructuring process.

      The two state-run banks to be capitalised are Korea Development Bank (KDB) and the Export-Import Bank of Korea (KEXIM).

      Following the announcement, the International Monetary Fund said it supported Korea’s corporate reforms and urged the government to implement additional fiscal stimulus and the central bank to ease monetary policy.

    • South Korean Prosecutors Raid Daewoo Shipbuilding Offices - Bloomberg

      South Korea’s prosecutors raided the offices of Daewoo Shipbuilding & Marine Engineering Co. as the world’s second-largest shipbuilder tries to raise funds through asset sales to reduce debt.

      The raid comes after an audit committee of Daewoo Shipbuilding requested an investigation into two former chief executive officers for alleged mismanagement of the company, the Geojae, South Korea-based shipyard said in an e-mailed response to a Bloomberg News query.

      Daewoo Shipbuilding posted its biggest loss last year after write-offs for delayed projects. The company is among shipyards restructuring to raise funds after deliveries of offshore drilling and production units were pushed back, as oil prices that have fallen by half in the last two years crushed demand.

      Prosecutors raided the company’s offices in Seoul and Geojae, Daewoo Shipbuilding said. Computer hard drives, account books and documents were confiscated by the officials, Yonhap News Agency reported, citing the Supreme Prosecutors’ Office. A person who picked up a call to the media office of the Seoul Central District Prosecutors’ Office said she couldn’t comment on any investigation by the office.

      Daewoo Shipbuilding posted a net loss, excluding minority interest, of 3.19 trillion won ($2.8 billion) in 2015. The company restated its earnings from 2013 on the advice of its auditors to better reflect the write-offs in its financials.


    L’Euro 2016 a lieu en France entre le 10 juin et le 10 juillet. Étant donnée la situation sociale dans ce pays, nous qui sommes en lutte contre la loi Travail et son monde, nous appelons à le perturber.
Nous considérons le foot comme un jeu, pas comme un business, pas comme une marchandise. Et vu le fric et la communication politique qu’il y a autour de ce type de grands événements sportifs, nous n’avons pas de scrupules à imaginer que l’Euro 2016 puisse être dérangé quelque peu.

    Par des moyens d’exploitation salariale toujours plus grands, la loi Travail et son monde jouent avec nos vies. L’enjeu nous semble donc bien plus important que celui d’une cinquantaine de matches de foot.
    Pour autant, nous n’avons rien contre les footballeurs, ni contre les supporters. Nous en avons contre le monde de l’Euro 2016, ses structures et ses sponsors : UEFA / FFF / Abritel / Adidas / Coca-Cola / Crédit Agricole / Continental / FDJ / Hisense / Hyundai-Kia / Mc Donald’s / Orange / La Poste / Proman / Socar / SNCF / Tourtel / Turkish Airlines / etc.

    Et l’état d’urgence, les 42 000 policiers, 30 000 gendarmes, 13 000 vigiles de sociétés privées, les 200 policiers étrangers, les militaires et le RAID pour maintenir l’ordre dans les stades et les fan-zones ? Même pas peur ! Et les drones, les caméras de vidéosurveillance et autres dispositifs technologiques de contrôle ? Même pas peur ! Et Daesh, le spectre censé justifier tout ça ? Même pas peur !

    Si les moyens de pression actuels contre la loi Travail et son monde ne suffisent pas (manifs, grèves, blocages, sabotages, etc.), nous les étendrons à l’Euro 2016.
    Dans la joie et la bonne humeur, avec rage et détermination, pour le retrait de la loi Travail,
pour la fin du capitalisme et de l’État, avec des pratiques d’entraide et des perspectives révolutionnaires, à Bordeaux, Lens, Lille, Lyon, Marseille, Nice, Paris, Saint-Denis, Saint-Étienne, Toulouse et ailleurs...
Nous appelons à perturber l’Euro 2016 par tous les moyens qui vous plairont.

    Des footballeurs, des footballeuses, ou pas,
et leurs ami-e-s des comités d’action de Paris.

  • Hyundai Merchant Marine creditors agree to $570 mln debt-for-equity swap | Reuters

    Creditors of struggling South Korean shipper Hyundai Merchant Marine Co Ltd have agreed to a 680 billion won ($570.27 million) debt-for-equity swap, lead creditor bank Korea Development Bank said on Tuesday.

    Container lines, which transport everything from bananas to iPhones, are struggling with the confluence of a glut of ships, a faltering global economy and weaker consumer demand.

    Hyundai Merchant Marine had debts of about 5.2 trillion Korean won as of the quarter ending in March, according to a company filing. Squeezed by what is widely considered the worst downturn ever for the industry, the Korean shipper is trying to negotiate lower charter fees from shipowners.

    The agreement is contingent on conditions including Hyundai Merchant Marine joining an alliance involving major shipping firms. A Korea Development Bank official said the size of stake the creditors will collectively end up with in Hyundai is not yet set.

  • Base vie pour 800 personnes à vendre - Neuf, jamais servi

    Edda Accommodation Cancels Delayed Newbuild at Hyundai Heavy Industries - gCaptain

    Edda Accommodation says it has decided to cancel its order for a newbuild accommodation vessel at Hyundai Heavy Industries due to extensive delays. 

    The vessel, which was to be named Edda Fortis, was ordered in March 2014 with delivery originally scheduled for June 2015.
    Fortunately for Hyundai Heavy the vessel looks practically complete, so it could potentially be a pretty good deal for someone needing to house 800 people offshore. [Above] it is pictured in what must be the waters off Ulsan.

  • Emissions polluantes : des « irrégularités » pour seize marques automobiles

    L’affaire des moteurs diesel truqués utilisés par Volkswagen a ouvert la brèche aux contrôles des émissions polluantes des automobiles. Une enquête allemande réalisée sur des modèles diesel a mis au jour des irrégularités concernant seize marques automobiles, dont cinq allemandes, la française Renault et les japonaises Suzuki et Nissan, a indiqué vendredi 22 avril le ministre des transports allemand.

    Alexander Dobrindt a cité Alfa Romeo, Chevrolet, Dacia, Fiat, Hyundai, Jaguar, Jeep, Landrover, Nissan et Suzuki, en sus des marques allemandes Opel, Volkswagen, Porsche, Audi et Mercedes et de Renault, qu’une source gouvernementale avait déjà évoqué précédemment. Cette enquête avait été lancée l’an dernier après les révélations sur une tricherie au diesel de Volkswagen.

    Sur les véhicules incriminés, le système de filtration des émissions polluantes est systématiquement désactivé quand la température extérieure descend sous un certain seuil. Or, d’après les normes européennes en vigueur, cette procédure n’est autorisée que si elle permet d’éviter un accident ou un dommage causé au moteur.

  • Two Palestinians, From Different Walks of Life, Brought Together in Death at a Checkpoint -
    Gideon Levy and Alex Levac Jan 16, 2016 11:24 AM

    One man was the well-to-do owner of a company, the other a poor student. Israeli soldiers killed both of them at a West Bank checkpoint. Why did they die? Was there a connection between them?

    A poster hanging in Al-Jadida, where Ali Abu Maryam resided. Alex Levac

    They were not “from the same village,” as the Naomi Shemer song goes, nor did they have the same iconic forelock, as it continues. In fact, they probably never met. One was a very affluent businessman, propertied and with a family; the other was an abjectly poor student and occasional farmhand.

    They lived in two neighboring villages, Zawiya and Al-Jadida, outside Jenin in the northern West Bank. People in Zawiya say it’s possible that the wealthy resident of their village gave the poor worker a lift last Saturday in the rain and cold. People in Al-Jadida believe that they never met – until their deaths – and that the student arrived at the checkpoint in a vehicle carrying laborers.

    What is not in doubt is that these two people were killed together, by volleys of live fire unleashed by Israel Defense Forces soldiers last Shabbat morning at the Beka’ot checkpoint – called Hamra by the Palestinians – that abuts the partially annexed Jordan Valley. Rich and poor were unequal in death, too: The soldiers fired a total of 11 rounds into the affluent man but made do with three for the needier one.

    Much about the incident is not clear, beyond the oppressive thought that, as in most cases of deaths caused by Israeli security forces in recent months, here too there was no need to shoot to kill, certainly not both men. But the lives of Palestinians continue to be cheap: Their deaths were barely reported in the Israeli media.

    Said Abu al-Wafa owned one company that imports and sells food, and another that imports cars from Germany. It’s important for his family to elaborate on his financial situation, to show that their loved one could not possibly have been involved in terrorism.

    They bring us to the jam-packed food warehouses belonging to Wafa Brothers, of which Said was the founder and driving spirit. Inside the warehouses, situated not far from one of the brothers’ homes, there are snacks from Pakistan and Saudi Arabia, candy from India and China, cooking oil and flour from Egypt, cookies from Belgium and soft drinks from Ramallah. Parked outside are Said’s Mitsubishi Pajero SUV and the new Hyundai he bought his brother-in-law as a present two days before he was killed. His own spacious home is situated in the valley below, amid his olive groves.

    This week the courtyard outside the Wafas’ warehouses was converted into a mourning site, with a huge poster of the deceased hanging in the center.

    Said was 35, married to Ghadir and the father of Mohammed, 8; Shirin, 6; Darin, 5; and Jaudath, 4. All are now cuddling up to their uncle Shaher, their father’s brother, a lawyer of 30.

    Said Abu al-Wafa’s family.Alex Levac

    Shaher recounts what happened on Saturday. It was his brother’s day to distribute merchandise in Jericho. Twice a week, on Saturday and Monday, Said would drive there through the Jordan Valley in his 2015 Mercedes van, loaded with food products. The last day of his life was no different.

    Said apparently left home around 5 A.M., by himself, as usual. People in the village of Farah, abutting the valley, saw him driving alone. Did he pick up someone on the way? Shaher says it’s possible, though only because of the cold and the heavy rain; his brother did not generally pick up hitchhikers.

    Said arrived at Beka’ot around 6. About an hour later, Shaher got a call from the Palestinian security forces asking who was driving the company’s Mercedes, which had stopped at the checkpoint. Shaher set out for there immediately, filled with foreboding. The checkpoint was closed. The Mercedes was parked in the middle of the road, where soldiers usually stand. The only damage seemed to be to the two front windows on both sides, which were shattered.

    After Shaher identified himself, the soldiers allowed him to approach the vehicle. Next to it there was a body – that of his brother. Shaher remembers now that he thought to himself that the soldiers had, unusually, behaved respectfully: They had placed the body on a stretcher and covered it with a blanket.

    The Shin Bet security men and police officers who were at the site questioned Shaher about the identity of another dead man, whose body he was shown only in the form of a photo on a cell phone. Did he know him? Did his brother know him? Did he work for their company? Shaher replied that he had no idea who the person was. “I know my brother,” he told his interlocutors. “He knew the rules at the checkpoint. I’m positive he did not make a mistake of any kind.”

    According to Shaher, a Shin Bet man said they knew his brother was a prominent businessman. “Allah yerhamo,” one officer said. God have mercy on him.

    Someone told Shaher that his brother was killed while he was still behind the wheel. The van was standing at exactly the spot where it was supposed to stop when approaching the checkpoint.

    About an hour later the family received Said’s body. That’s an important detail, because the IDF typically takes its time when it comes to returning the bodies of terrorists.

    Shaher hurried to the home of their elderly mother, Adila, to be with her in the ordeal.

    The courtyard is now filling up with mourners, dozens of them. Shaher says he thinks his brother was killed because of something the other dead man did. The body of that man, whom Said apparently did not know, was also returned immediately to his family. But Shaher still has no idea what happened at the Beka’ot checkpoint.

    About 15 minutes away from Zawiya is a different village, a different mourners’ tent, a different reality. Here, in Al-Jadida, poverty is rampant. While Said was on his way to Jericho, Ali Abu Maryam, in his early twenties and unmarried, was also heading for the Jordan Valley, where he worked in the fields of herbs owned by the Israeli settlement of Beka’ot. A third-year management student at Al-Quds Open University, he provided for his family as well: His father, Mohammed, has been ill and unemployed for years. Now Mohammed, his features ravaged by illness or grief, mourns his dead son.

    The locals dismiss the idea that Ali got a lift with Said; they say he got to work in a vehicle that picked up laborers. These villagers seem to know even less (or are saying less) than the residents of Zawiya about what happened at the checkpoint on Saturday. Mohammed thinks Ali left the house at 4 A.M. and wanted to recite the morning prayers at work. At about 6, a worker called Mohammed to say Ali had been wounded. The caller added that he hadn’t seen what happened, he only heard shots.

    The checkpoint has two lanes for vehicles and a fenced-off walkway for workers. What happened there? Did Ali pull a knife? No one has any answers.

    An oppressive pall due to the death of a son of this remote village hovers almost palpably over the yard in which dozens of mourners have gathered. Israel Air Force planes slice through the skies, with an earsplitting din.

    The IDF Spokesman’s Office told Haaretz this week, in reply to a request for information about the incident: “During the course of a routine security check of a car at the Beka’ot checkpoint, there was a stabbing attempt. The incident is still under investigation, and for that reason, cannot be discussed in detail. When the investigation is complete, its findings will be sent to the office of the military advocate general.”

    During the week, Israeli security forces arrived in the middle of the night at the poor dwelling belonging to the Abu Maryam family and, according to the bereaved father, measured and photographed the house, signaling its imminent demolition. The family relates that Ali had just paid his tuition for the next semester, a sure sign he wasn’t planning a terrorist attack. One bullet penetrated his eye and from there entered his brain, they said; the eye had been covered in the photograph we saw. His father says Ali was thinking of becoming a bus driver. Meanwhile, Mohammed adds, no one has told him what happened to his son. Mohammed’s brother, Ali’s uncle, was also killed by Israeli soldiers. Back in 1993.

    Later on, at the checkpoint, one of the two lanes was closed and traffic was sparse. Bored-looking soldiers were standing around, seemingly in all innocence, as if two people hadn’t been killed there two days earlier, apparently for no reason.


  • Hyundai-Kia prend le train du véhicule autonome - L’Usine Auto

    Trublion sur de nombreux marchés, Hyundai-Kia s’était en revanche jusqu’à présent montré très discret sur le sujet « voiture autonome ». Le groupe s’est rattrapé la semaine dernière, en dévoilant des prototypes et sa vision stratégique.

    Sur une piste d’essai, un Kia Soul bleu et blanc roule sur quelques mètres sans personne à bord. Le SUV dépasse une place vide, s’arrête quelques instants puis met son clignotant, enclenche la marche arrière et se gare tout seul.


  • Après le scandale Volkswagen, les actionnaires s’alarment pour tout le secteur automobile

    Quand le scandale Volkswagen a éclaté, l’action du constructeur allemand s’est immédiatement effondrée en Bourse. Trois semaines plus tard, elle demeure en recul de 20 %, soit 15 milliards d’euros partis en fumée. Très inquiet que le même phénomène puisse se répéter chez la concurrence, un groupe de grands investisseurs institutionnels vient d’envoyer une série de lettres aux principaux constructeurs automobiles mondiaux, pour leur demander des explications. « En tant qu’investisseurs, nous voulons comprendre l’attitude et les agissements de l’industrie automobile sur les questions réglementaires et environnementales », écrivent-ils, dans une initiative dévoilée mardi 13 octobre. Leur objectif : détecter le plus tôt possible les risques d’un nouveau scandale, et éventuellement retirer leurs investissements à temps.

    L’initiative, coordonnée par Share Action, une association britannique qui promeut l’actionnariat responsable, rassemble dix-neuf grands investisseurs, qui gèrent au total un portefeuille de 850 milliards d’euros. Parmi elles se trouvent le géant AXA Investment Managers, quatre fonds de retraite suédois et une série de petits fonds connus pour leur activisme dans les affaires sociales et environnementales. Leur lettre a été envoyée à Volkswagen, BMW, Honda, Daimler, General Motors, Ford, Fiat, Peugeot et Toyota.
    La lettre s’inquiète particulièrement du lobbying anti-climat très actif mené par les constructeurs automobiles. Les investisseurs constatent que ceux-ci mènent un travail de sape auprès des régulateurs européens et américains, qui semble aller à l’opposé de leurs discours publics en faveur de l’environnement.

    Ils s’appuient pour cela sur le travail mené par Influence Map, une association britannique à but non lucratif qui documente le travail de lobbying des grandes entreprises. Selon elle, Volkswagen, BMW et Daimler – les trois constructeurs allemands – sont parmi ceux qui cherchent le plus à mettre des bâtons dans les roues des autorités. Ford et Hyundai sont également identifiés comme les mauvais élèves de ce classement. Renault-Nissan est le mieux noté.

    « On ne peut évidemment pas demander aux entreprises si elles utilisent des logiciels illégaux pour frauder les contrôles, explique Dylan Tanner, d’Influence Map. En revanche, connaître le travail de lobbying est une bonne façon de comprendre l’attitude réelle des entreprises, et cela peut servir de signal d’alarme. » En d’autres termes, plus le lobbying est développé, plus l’entreprise a des choses à cacher…
    La lettre envoyée par les investisseurs s’inquiète aussi du travail des organisations qui représentent les constructeurs automobiles. L’Association des constructeurs européens d’automobiles (ACEA) en particulier, basée à Bruxelles, « s’est opposée systématiquement aux régulations sur le climat », dénonce Influence Map. Dans une lettre ouverte en 2014, elle demandait à ce que les « objectifs d’émission de gaz à effet de serre et d’énergie renouvelable ne soient pas fixés aux dépens de la compétitivité et de la croissance de l’industrie ».

    Dans ce contexte, Influence Map s’étonne du rôle joué par Renault-Nissan. D’un côté, les deux marques sont parmi celles qui mènent le lobbying anti-climat le moins actif à Bruxelles. De l’autre, Carlos Ghosn, leur patron, est actuellement le président de l’ACEA. « Il semble y avoir un “mauvais alignement” [entre les deux] », s’inquiète l’association. Les dix-neuf investisseurs lui ont donc envoyé une lettre séparée, pour lui demander des explications.