News / Hanjin charter defaults spark more vessel lay-ups and add to shipyard woes

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South Korean shipyards are coming under severe financial pressure as orders dry up and containerships under construction have delivery dates extended due to chronic overcapacity on liner trades.

Delegates at the World Ocean Forum ? Ocean, The Beginning of a New Era ? conference in Busan this week heard speaker after speaker talk about the parlous position of the country’s shipbuilding industry.

The nation’s top three yards – Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering – suffered a combined operating ...