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"With concerns lingering in the global restructuring of the shipbuilding industry, shipowners tend to make orders to financially sound shipbuilders," an HHI official said.
The ailing shipbuilder sold its two office buildings in Seoul for 205.2 billion won earlier this year.
They said major Japanese shipbuilders are expected to be consolidated into three groups -- the IHK-Kawasaki-Mitsui alliance and Sumitomo Heavy, Mitsubishi Heavy and NKK Corp.-Hitachi Zosen Corp.
With the retail investor resisting the debt readjustment, market observers expect that the shipbuilder would face delays in receiving the new loans, including 500 billion won by the end of this month.
Navy flag-officer-in-command Vice Admiral Robert Empedrad, in a press briefing Wednesday, however, said he is not privy as to the ongoing deals concerning possible takers of the cash-strapped shipbuilder.
Though the Japanese government has yet to announce its stance on the merger between the world's top two shipbuilders, Hyundai Heavy has decided to delay filing an application with Japan's Fair Trade Commission for an antitrust review, hoping to avoid falling victim to the worsening bilateral ties.
Chinese and South Korean support for shipbuilders irks Japan
One industry practice when partnering with a foreign naval shipbuilder for the delivery of specific models is to have at least one or a few of the commissioned ships be built domestically - a condition that would allow for technology transfer, increased local content and job creation.
Local bank creditors of Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), the local unit of Korea's shipbuilding giant Hanjin, expect resolution of the shipbuilder's debt within the year.
Hanjin very sensitive' to security fears over possible Chinese takeover' ,SBMA chief !-- -- Ian Nicolas Cigaral (philstar.com) - February 6, 2019 - 11:59am MANILA, Philippines Shipbuilder Hanjin Philippines which recently declared bankruptcy after it defaulted on over $400 million in bank loans is "very sensitive" to security concerns following reports saying Chinese firms have expressed interest in taking over the Philippines' largest shipyard.
In August 2015, Naval Air Systems Command's naval air warfare center training systems division signed a cooperative research-and-development agreement with the shipbuilder.
ALL of Scotland holds out hope that a buyer can be found for Ferguson Shipbuilders, the last civilian shipbuilder on the Clyde.

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