The European Commission has adopted a decision to prohibit a merger that would combine two South Korean shipbuilding companies, Hyundai Heavy Industries Holdings (HHIH) and Daewoo Shipbuilding & Marine Engineering (DSME).
EU competition officials are preparing to block a $2 billion merger between two of the world’s biggest shipbuilders in South Korea, Daewoo and Hyundai - the first time since 2019 that Brussels has decided to veto a corporate tie-up, said a report.
The shipping line is investing in green methanol production to ensure that it can source enough fuel to power a fleet of 12 new carbon-neutral ships it bought from Hyundai Heavy Industries.