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DSME (Daewoo Shipbuilding)

#993

Rank

$19.12B

Marketcap

South Korea

Country

DSME (Daewoo Shipbuilding)
Leadership team

Seon Park Du (Pres, CEO & Exec. Director)

Mr. Seok Choe Yong (Sr. EVP & CFO)

Mr. Dong Gack Kim (Chief Operating Officer and Sr. VP)

Products/ Services
Hardware, Manufacturing, Shipping
Number of Employees
1,000 - 20,000
Headquarters
Gyeongsan, Kyongsang-bukto, South Korea
Established
2000
Revenue
Above - 1B
Traded as
042660.KS
Social Media
Overview
Location
Summary
Daewoo Shipbuilding & Marine Engineering Co., Ltd. operates as a shipbuilding and offshore contractor in South Korea and internationally. The company offers commercial vessels, including tankers, container carriers, bulk carriers, ore carriers, liquefied natural gas (LNG) and liquefied petroleum gas carriers, LNG floating storage regasification units, roll-on roll-off carriers, chemical carriers, product carriers, cruise ships, passenger ferries, and other vessels; specialty vessels comprising submarines, destroyers, battle ships, submarine rescue vessels, AUVs, and other specialty vessels; FLNG, fixed platforms, drilling rigs and drillships, and FPSO/FPU/FSOs for offshore oil and gas exploration and production; onshore plants, such as chemical plants, seawater treatment plants, and power plants; industrial facilities, including off-loading facilities; and steel structures comprising steel bridges and steel cages. It is also involved in the research and development, manufacture, and sale of blocks, parts, and other related products; hatch covers, trance bulkheads, side shells, LNGC trunk decks, cargo machinery rooms, lashing bridges, rudders, and other iron structures; and design, production, and installation of offshore/land plants, as well as other related businesses. In addition, the company manufactures and sells deck houses, engine casings, funnels, bow and stern blocks, living quarters, pontoon and columns, E & I buildings, modules, industrial machinery, environmental facilities, and iron and steel manufacturing facilities. Further, it offers IT consultation, system operation/establishment, maintenance, and training services, as well as supplies hardware/software products. The company was founded in 1973 and is headquartered in Geoje-si, South Korea. Daewoo Shipbuilding & Marine Engineering Co., Ltd. is a subsidiary of Korea Development Bank.
History

On 21 February 2011, the A. P. Moller-Maersk Group ordered 10 large container ships 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 hulled 'MARS' fast fleet tankers by Britain's Ministry of Defence for the Royal Fleet Auxiliary. The ships entered service in 2017.

The firm is building 15 LNG icebreaker/tanker ships commissioned by Yamal LNG which will be used to export liquefied natural gas 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 ?1.5 trillion 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 ?2.9 trillion 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.

Mission
To establish and maintain mutually beneficial partnership with customers and to provide innovative and reliable ships and marine engineering solutions.
Vision
To become the global leader in shipbuilding, marine and offshore engineering and be the preferred partner for our clients.
Key Team

Oh-Gyun Shin (Managing Director)

Sun-Yeong Jung (Managing Director)

Je-Hyuk Woo (VP, Shipyard GM & Exec. Director)

Young-ho Lee (Head of Management Support Unit, VP & Exec. Director)

Mr. Dong Hyuk Park (Production Director)

Recognition and Awards
DSME has received numerous awards and recognition in the industry ranging from innovation and customer service to occupying the top spot in the global orderbook. It has also received the International Naval Review Award for Excellence in 2016 and 2017.
References

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DSME (Daewoo Shipbuilding)
Leadership team

Seon Park Du (Pres, CEO & Exec. Director)

Mr. Seok Choe Yong (Sr. EVP & CFO)

Mr. Dong Gack Kim (Chief Operating Officer and Sr. VP)

Products/ Services
Hardware, Manufacturing, Shipping
Number of Employees
1,000 - 20,000
Headquarters
Gyeongsan, Kyongsang-bukto, South Korea
Established
2000
Revenue
Above - 1B
Traded as
042660.KS
Social Media