Ukraine War: Serious Impact on South Korea:
-Crisis situation in shipbuilding and automobiles-
War in Ukraine:
It has a serious impact on “Korean companies, including shipbuilders and automobile manufacturers.”
Daewoo Shipbuilding:
In October 2020, we signed a contract with a Russian shipowner to supply three LNG carriers.
Contract cancellation:
but,
From May, the contract cancellation of the LNG carrier occurred,
At the end of June, another one-third was canceled.
The size of the contract
fell from more than one trillion won to 337.9 billion won, and even the remaining one-third is about to be canceled.
Hyundai Motor Group’s plant
in Saint Petersburg has been shut down since March.
The plant has an annual production capacity of 330,000 cars and production resumption there is still up in the air.
According to industry sources,
Hyundai Motor Russia sold 3,004 cars in May, down 81.8 percent from a year ago.
Likewise, Kia Russia’s sales volume dropped 80.8 percent to 3,606.
The war is leading to higher oil prices and this is affecting airlines.
According to the International Air Transport Association,
the aviation fuel price in Asia and Oceania was US$164.76 per barrel on June 24, up 111 percent year on year.
Korean Air’s annual fuel consumption is approximately 28 million barrels and its profit decreases by 36.3 billion won each time the price per barrel rises by US$1.
– Businesskorea
http://www.businesskorea.co.kr/news/articleView.html?idxno=95929
Korean shipbuilding giant DSME enters crisis mode
For all the talk of full orderbooks and rising newbuild prices, not every shipyard is enjoying today’s market conditions.
Top management at South Korean shipbuilding major Daewoo Shipbuilding & Marine Engineering (DSME)
have let it be known the yard is facing severe financial difficulties.
DSME,
which has been under state control since coming close to bankruptcy in the middle of the last decade,is once again facing a capital squeeze, admitting yesterday its debt ratio increased to 547% by the end of the first quarter because of a number of issues,
including the cancellation of Russian ship orders, soaring raw material price increases and recent strikes by subcontractors.
– Splash247
https://splash247.com/korean-shipbuilding-giant-dsme-enters-crisis-mode/
Guerre d’Ukraine : Impact sérieux sur la Corée du Sud :
-Situation de crise dans la construction navale et automobile-
Guerre en Ukraine :
Cela a un impact sérieux sur “les entreprises coréennes, y compris les constructeurs navals et les constructeurs automobiles”.
Construction navale Daewoo :
En octobre 2020, nous avons signé un contrat avec un armateur russe pour fournir trois méthaniers.
Annulation de contrat :
mais,
A partir de mai, la résiliation du contrat du méthanier interviendra,
Fin juin, un autre tiers a été annulé.
Ukraine-Krieg: Schwerwiegende Auswirkungen auf Südkorea:
-Krisensituation im Schiffbau und Automobil-
Krieg in der Ukraine:
Sie habe schwerwiegende Auswirkungen auf „koreanische Unternehmen, darunter Schiffbauer und Automobilhersteller“.
Daewoo Schiffbau:
Im Oktober 2020 haben wir mit einem russischen Reeder einen Vertrag über die Lieferung von drei LNG-Tankern unterzeichnet.
Vertragskündigung:
aber,
Ab Mai erfolgt die Vertragskündigung des LNG-Carriers,
Ende Juni wurde ein weiteres Drittel storniert.