Daewoo Shipbuilding & Marine Engineering Co., Ltd ( ko, 대우조선해양; abbreviated DSME) is one of the "Big Three" shipbuilders of

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

, along with

Hyundai Hyundai is a South Korean industrial conglomerate ("chaebol"), which was restructured into the following groups: * Hyundai Group, parts of the former conglomerate which have not been divested ** Hyundai Mobis, Korean car parts company ** Hyundai ...

and

Samsung The Samsung Group (or simply Samsung) ( ko, 삼성 ) is a South Korean multinational manufacturing conglomerate headquartered in Samsung Town, Seoul, South Korea. It comprises numerous affiliated businesses, most of them united under the ...

History

On 21 February 2011, the

A. P. Moller-Maersk Group (), also known simply as Maersk (), is a Danish shipping company, active in ocean and inland freight transportation and associated services, such as supply chain management and port operation. Maersk was the largest container shipping line a ...

(Maersk) ordered 10 large

container ship A container ship (also called boxship or spelled containership) is a cargo ship that carries all of its load in truck-size intermodal containers, in a technique called containerization. Container ships are a common means of commercial intermodal ...

s from DSME, each with a capacity of 18,000 containers, surpassing the then record holder; the Mærsk E-class at 15,200 containers. The contract is worth $1.9bn. The first was to be delivered in 2014. In June 2011, Maersk ordered ten more, for another $1.9bn. The new class is called the Triple E class. On December 20, 2011, Daewoo Shipbuilding Marine Engineering won the largest single defense contract by a Korean firm; valued at $1.07 billion to build three Indonesian submarines. It also would mark the first exports of submarines from South Korea. On 22 February 2012, a £452 million order was placed with DSME for four 37,000 tonne

double hull A double hull is a ship hull design and construction method where the bottom and sides of the ship have two complete layers of watertight hull surface: one outer layer forming the normal hull of the ship, and a second inner hull which is some dis ...

ed '

MARS Mars is the fourth planet from the Sun and the second-smallest planet in the Solar System, only being larger than Mercury (planet), Mercury. In the English language, Mars is named for the Mars (mythology), Roman god of war. Mars is a terr ...

' fast fleet tankers by Britain's

Ministry of Defence {{unsourced, date=February 2021 A ministry of defence or defense (see spelling differences), also known as a department of defence or defense, is an often-used name for the part of a government responsible for matters of defence, found in states ...

for the

Royal Fleet Auxiliary The Royal Fleet Auxiliary (RFA) is a naval auxiliary fleet owned by the UK's Ministry of Defence. It provides logistical and operational support to the Royal Navy and Royal Marines. The RFA ensures the Royal Navy is supplied and supported by ...

. The ships entered service in 2017. The firm is building 15 LNG icebreaker/tanker ships commissioned by

Yamal LNG Yamal LNG (russian: ОАО "Ямал СПГ") is a joint venture based around a liquefied natural gas plant located in Sabetta at the north-east of the Yamal Peninsula, northwest Siberia, Russia. In addition to the LNG plant, the project includes p ...

which will be used to export

liquefied natural gas Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volu ...

from the Russian Arctic. Each icebreaker/tanker is designed to operate year-round from the Yamal Peninsula and to break ice up to 2.5 meters thick. The tankers were designed in Finland by Aker Arctic Technology Inc. The South Korean Board of Audit and Inspection found of accounting fraud in DSME's books on 15 June 2016. In July, 2016, shares in DSME were suspended from trading, and were announced to be suspended until at least September 28, 2017. After suffering losses of Won3.3tn in 2015 and Won2.7tn in 2016, it was given a government loan in March 2017 to prevent bankruptcy. In 2017, it was uncovered that North Korea may have hacked the company and stole company's blueprints in April 2016.

References

External links

* Accounting scandals Daewoo Manufacturing companies based in Seoul Scandals in South Korea Shipbuilding companies of South Korea Companies listed on the Korea Exchange South Korean brands {{manufacturing-company-stub

History

See also

References

External links