Latest news with #SamsungHeavyIndustries
Korea Herald
04-08-2025
- Business
- Korea Herald
Korean shipbuilders form MASGA task force to boost US industry ties
HD Hyundai, Hanwha Ocean, Samsung Heavy Industries to coordinate investment plans under $150b Korea-US fund South Korea's big three shipbuilders — HD Hyundai Heavy Industries, Hanwha Ocean and Samsung Heavy Industries — established a task force to bolster the 'Make American Shipbuilding Great Again' initiative, aimed at revitalizing the US shipbuilding industry. According to industry sources Monday, the recently launched task force was coordinated by the Korea Offshore & Shipbuilding Association and consists of one employee and one executive from each of the three companies. Having held a preliminary meeting, the task force plans to begin detailed discussions on the MASGA project in mid-August. 'The main objective of the task force is to support the government's MASGA project,' said an industry source familiar with the matter on condition of anonymity. 'Specifically, the discussions will focus on how each company can invest in and strengthen ties with the US shipbuilding sector. The government will then design the $150 billion shipbuilding cooperation fund to finance these US strategies.' On June 30, the Korean government announced a $150 billion fund, part of a broader $350 billion investment initiative, to invest in strategic US sectors, to secure more favorable tariff rates for Korean exports. The shipbuilding fund represents the largest single-industry allocation, making up 43 percent of the total fund. While the specific details of the fund remain undisclosed, the government indicated that it will be primarily used for shipyard construction, workforce training, shipbuilding, and maintenance, repair and operations, or MRO. Korean officials say the large-scale shipbuilding fund played a crucial role in reducing the threatened 25 percent blanket tariff on Korean goods to 15 percent. 'The US likely did not anticipate Korea's preparations, including extensive research and proposals, for its shipbuilding sector,' said Kim Yong-beom, the presidential chief of staff for policy, during an on-air broadcast at KBS on Sunday. 'Without shipbuilding, the (trade) negotiations might not have reached a conclusion.' Kim also displayed the 'MASGA cap,' which features white lettering on a red background, the full MASGA logo and the US and Korean flags positioned side by side at the top. Kim explained, 'We designed this cap and brought about ten of them to the US. We put our utmost effort into creating these symbolic items.' According to Kim, Korea's Industry Minister Kim Jung-kwan presented the cap, along with a large panel, during a meeting with US Commerce Secretary Howard Lutnick, who praised it as a 'great idea.' Ahead of the Korea-US tariff agreement on July 31, Hanwha Group Vice Chairman Kim Dong-kwan visited Washington to aid the Korean government's tariff talks. Kim joined an unofficial chaebol delegation that included Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Chung Euisun. Meanwhile, Korea's shipbuilding trio is pursuing various measures to boost its operations in the US. Hanwha Ocean is considered the most aggressive investor in the US, having acquired Philly Shipyard for $100 million last year. The company is also actively engaged in local facility investments, job creation and technology transfers, with plans to increase its annual shipbuilding capacity to up to 15 vessels from the current one to 1.5 vessels by 2035. HD Hyundai is focusing on forging partnerships with the US shipbuilders. It intends to jointly build LNG dual-fuel container ships with Edison Chouest Offshore and share its shipbuilding know-how with Huntington Ingalls. Samsung Heavy Industries, the latecomer among the three, announced during a recent second-quarter earnings call that it is discussing cooperative measures with its US counterparts.
Yahoo
09-07-2025
- Business
- Yahoo
Asian Stocks Estimated Below Intrinsic Value In July 2025
As of July 2025, Asian markets are exhibiting mixed performance amid ongoing global trade negotiations and economic data releases. While Japan faces challenges from stalled U.S.-Japan trade talks, China's stock markets show resilience with modest gains despite mixed economic indicators. In this context, identifying undervalued stocks in Asia requires a keen understanding of intrinsic value and the ability to navigate fluctuating market conditions effectively. Name Current Price Fair Value (Est) Discount (Est) Taiyo Yuden (TSE:6976) ¥2574.50 ¥5115.01 49.7% Polaris Holdings (TSE:3010) ¥219.00 ¥436.36 49.8% Ningbo Sanxing Medical ElectricLtd (SHSE:601567) CN¥23.12 CN¥46.19 49.9% JRCLtd (TSE:6224) ¥1160.00 ¥2306.76 49.7% HL Holdings (KOSE:A060980) ₩41650.00 ₩82347.91 49.4% Hibino (TSE:2469) ¥2394.00 ¥4731.64 49.4% Dive (TSE:151A) ¥935.00 ¥1858.95 49.7% cottaLTD (TSE:3359) ¥431.00 ¥857.05 49.7% Bloks Group (SEHK:325) HK$146.60 HK$292.82 49.9% APAC Realty (SGX:CLN) SGD0.475 SGD0.95 49.9% Click here to see the full list of 271 stocks from our Undervalued Asian Stocks Based On Cash Flows screener. Here's a peek at a few of the choices from the screener. Overview: Samsung Heavy Industries Co., Ltd. operates in the shipbuilding, offshore, and energy and infrastructure sectors globally, with a market cap of ₩14.79 trillion. Operations: The company's revenue segments include Shipbuilding & Marine Engineering at ₩9.50 trillion and Construction at ₩752.33 million. Estimated Discount To Fair Value: 39.3% Samsung Heavy Industries is trading at 39.3% below its estimated fair value, with a share price of ₩17,320 compared to a fair value estimate of ₩28,528.35. The company became profitable this year and its earnings are forecasted to grow significantly at 51% annually over the next three years, outpacing the Korean market's growth rate. Recent Q1 2025 results showed strong performance with net income soaring to ₩92 billion from ₩9.95 billion last year. Our earnings growth report unveils the potential for significant increases in Samsung Heavy Industries' future results. Navigate through the intricacies of Samsung Heavy Industries with our comprehensive financial health report here. Overview: BYD Company Limited, along with its subsidiaries, operates in the automobile and battery sectors across China, Hong Kong, Macau, Taiwan, and internationally with a market cap of approximately HK$1.10 trillion. Operations: BYD generates revenue primarily from its operations in the automobile and battery sectors across various regions, including China, Hong Kong, Macau, Taiwan, and international markets. Estimated Discount To Fair Value: 41.2% BYD is trading at 41.2% below its estimated fair value of HK$208.83, with current share price at HK$122.7, indicating potential undervaluation based on cash flows. The company's earnings are projected to grow faster than the Hong Kong market at 15.8% annually, supported by a recent strategic shift in Sweden and expansion plans in Europe including a new R&D center in Hungary to enhance its European footprint and production capabilities. In light of our recent growth report, it seems possible that BYD's financial performance will exceed current levels. Click here and access our complete balance sheet health report to understand the dynamics of BYD. Overview: CSC Financial Co., Ltd. operates as an investment banking service provider in Mainland China and internationally, with a market cap of HK$185.33 billion. Operations: The company's revenue segments include investment banking services, wealth management, and trading and institutional client services. Estimated Discount To Fair Value: 13.7% CSC Financial is trading at 13.7% below its estimated fair value of HK$12.38, with a current share price of HK$10.68, suggesting potential undervaluation based on cash flows. Despite an unstable dividend track record, earnings are projected to grow significantly at 22.8% annually over the next three years, surpassing market expectations in Hong Kong. Recent first-quarter results showed strong revenue and net income growth, while the company continues to focus on cost reduction and efficiency improvements. Our comprehensive growth report raises the possibility that CSC Financial is poised for substantial financial growth. Unlock comprehensive insights into our analysis of CSC Financial stock in this financial health report. Unlock our comprehensive list of 271 Undervalued Asian Stocks Based On Cash Flows by clicking here. Invested in any of these stocks? Simplify your portfolio management with Simply Wall St and stay ahead with our alerts for any critical updates on your stocks. Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include KOSE:A010140 SEHK:1211 and SEHK:6066. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Business Insider
08-07-2025
- Business
- Business Insider
World's 5th largest shipbuilder seals $637 million deal for offshore LNG plant in Africa
South Korea's Samsung Heavy Industries, the world's fifth-largest shipbuilder according to Lloyd's List, has secured a $637 million contract to construct a cutting-edge offshore liquefied natural gas (LNG) facility for a European client operating in Mozambique. Samsung Heavy Industries secured a $637 million contract to construct an FLNG facility in Mozambique to capitalize on its vast natural gas reserves. The facility will produce, liquefy, and store natural gas at sea, contributing to Mozambique's goal of becoming a major LNG exporter. Africa's role in the global LNG market is expanding attractively to Asian firms seeking energy investment opportunities. The agreement, signed with South Korea's Samsung Heavy Industries, will see the company deliver a state-of-the-art FLNG platform to tap into Mozambique's vast offshore gas reserves. According to South Korean news agency Yonhap, Samsung Heavy Industries signed an initial contract with a European shipping company operating in Africa to build the floating LNG facility. A company spokesperson noted that the final agreement will be signed at a later date. 'Countries have shown increased interest in energy security following the Russia-Ukraine war, and investments in offshore energy production facilities are expected to grow amid U.S. President Donald Trump's shifting energy policies, ' the company said. The project highlights Africa's expanding role in the global LNG market and reflects growing interest from Asian engineering and shipbuilding firms in the continent's energy sector. LNG investment surges in Mozambique The International Energy Agency estimates that Africa will require $200 billion (12.7 trillion meticals) annually by 2030 to achieve universal access to modern energy. Mozambique, with an estimated 100 trillion cubic feet of natural gas, is central to this goal and is seeking additional investment to develop its vast reserves. Samsung Heavy Industries has played a key role in Mozambique's rise as a global LNG player. Its first project, Coral Sul FLNG, developed with Eni and CNPC, was the world's first ultra-deepwater floating LNG plant and marked Mozambique's entry into LNG production in 2022. Building on that success, Samsung has now secured a $637 million contract to build a second FLNG facility for a European shipping company. The FLNG facility will allow for the production, liquefaction, and storage of natural gas directly at sea, eliminating the need for expensive onshore infrastructure. It supports Mozambique's broader goal of monetizing its estimated 100 trillion cubic feet of natural gas and establishing itself as a major exporter in the global LNG market. The project aligns with Mozambique's broader ambition to become a leading LNG exporter. Other energy giants, including TotalEnergies, have also expressed interest in restarting work on Mozambique's $20 billion LNG project, aiming to begin production by 2029. Industry analysts view the FLNG deal as a key step toward strengthening global energy security and diversifying gas supply routes amid continued volatility in traditional markets. Construction is expected to begin later this year, with delivery set for 2027. The Korean company said the contract reflects growing global confidence in its offshore engineering expertise. Samsung Heavy Industries has already secured $3.3 billion in orders this year—34% of its $9.8 billion target. Its order backlog stands at $26.5 billion, enough to sustain operations for the next three years.
Associated Press
02-07-2025
- Business
- Associated Press
Delfin Midstream Enters into an Agreement with Siemens Energy to Reserve Gas Turbine Manufacturing Capacity, Expects Fall Final Investment Decision for its Leading US Energy Infrastructure Project
Enters into Early Works program with Samsung Heavy Industries and Black & Veatch in preparation for the EPCI contracting and execution of the project HOUSTON, July 02, 2025 (GLOBE NEWSWIRE) -- Delfin Midstream Inc. ('Delfin' or the 'Company') announced today that it has entered into an agreement with Siemens Energy Inc. ('Siemens Energy') to reserve manufacturing capacity for four SGT-750 Gas Turbine Mechanical Drive Packages. Delfin also announced that it has agreed to an Early Works program with Samsung Heavy Industries ('SHI') and Black & Veatch Inc. ('B&V') to further detail FLNG vessel design specifications as basis for the Lump-Sum Turn-Key Engineering, Procurement, Construction, and Integration ('EPCI') contract and to prepare both contractors for the execution of the project. The Company's activities are in support of a Final Investment Decision ('FID') anticipated in the Fall of 2025 for its leading US energy infrastructure project under development in Louisiana and offshore in the Gulf. Dudley Poston, Delfin CEO, said: 'This is an incredibly exciting time for the development of Delfin's critical energy infrastructure project. Following the successful issuance of the deepwater port license by MARAD, all workstreams are on schedule and the project is currently on track for FID in the Fall of 2025. By making this large investment to lock-in critical manufacturing capacity, we have secured our execution schedule with the anticipated delivery of our first FLNG Vessel from Samsung Heavy Industries shipyard in 2029.' Karim Amin, Siemens Energy Executive Board Member said: 'Siemens Energy is excited to support Delfin's energy infrastructure project by providing the critical Gas Turbine Mechanical Drive packages the Company needs as it moves towards delivering the first offshore LNG project in the United States. The modular design, high power-to-weight ratio and ability to operate under diverse conditions make Siemens Energy gas turbines an innovative and ideal technology solution for this leading low emissions energy infrastructure project.' The agreement with Siemens Energy reserves manufacturing capacity for four SGT-750 Gas Turbine Mechanical Drive Packages which will be used to drive the mixed-refrigerant compressors for Delfin's LNG liquefaction system. Delfin's Early Works program agreement with Samsung and B&V will further detail FLNG Vessel #1 design specifications as basis for the Lump-Sum Turn-Key EPCI contract. This work will de-risk project execution and ensure both contractors are prepared for immediate project execution following a positive FID. On March 21, 2025, Delfin LNG LLC ('Delfin LNG'), a subsidiary of Delfin, received the first deepwater port license from the Maritime Administration ('MARAD') authorizing Delfin LNG to own, construct, operate, and export Liquefied Natural Gas ('LNG') from the United States. The license was issued pursuant to the Deepwater Port Act of 1974 and MARAD's 2017 Record of Decision and is in accordance with President Trump's Executive Order titled, 'Unleashing American Energy,' signed January 20, 2025. Delfin is a leader in LNG export infrastructure utilizing low-cost floating LNG technology. Delfin's brownfield deepwater port requires minimal additional infrastructure investment to support up to three floating LNG vessels producing up to 13.2 million tonnes of LNG annually. The Delfin floating LNG project has the potential to not only be the first LNG export deepwater port facility in the United States, but a significant economic contributor and job creator over the long-term. About Delfin Delfin is a leading LNG export infrastructure development company utilizing low-cost Floating LNG technology solutions. Delfin is the parent company of Delfin LNG. Delfin LNG is a brownfield Deepwater Port requiring minimal additional infrastructure investment to support up to three FLNG Vessels producing up to 13.2 MTPA of LNG. Delfin purchased the UTOS pipeline, the largest natural gas pipeline in the Gulf of America. Delfin LNG received a deepwater port license from MARAD and approval from the Department of Energy for long-term exports of LNG to countries that do not have a Free Trade Agreement with the United States. Additional information is available at Public Relations Dan Gagnier Gagnier Communications Email: [email protected]
CNA
22-06-2025
- Business
- CNA
South Korea counts on shipbuilding to ease US tariff woes
SEOUL: Asia's fourth largest economy South Korea is facing gruelling tariffs by US President Donald Trump, but its shipbuilding industry could prove a useful bargaining chip. Already hit by sector levies on steel and car exports, Seoul is laser-focused on negotiations over a 25 per cent country-specific tariff that has been suspended until Jul 8. WHY SHIPBUILDING? In the 1970s, South Korea's military leader president Park Chung-hee accelerated the country's heavy industry, designating sectors such as steel and shipbuilding "strategically important" and rolling out state subsidies. At the same time, POSCO was founded, now one of the world's largest steel producers, and conglomerate Hyundai built its shipyard in southeastern Ulsan, which started to grow rapidly. European rivals struggled to keep pace. Sweden's Kockums Shipyard filed for bankruptcy in 1987 and in a symbolic shift of global shipbuilding power, Hyundai acquired its 140-metre Goliath crane for one dollar. It now towers over southern Ulsan. In the 1990s and 2000s, South Korean shipbuilders such as Hyundai Heavy Industries and Samsung Heavy Industries ramped up investment in research and development, backed by generous government subsidies. The country secured a competitive edge in high-value-added vessels, including LNG carriers, very large crude carriers, and offshore platforms. IS IT IMPORTANT? South Korea's exports hit a record high in 2024, with analysts pointing to shipbuilding as one of the key drivers. The sector accounted for nearly four percent of total exports and grew by almost 20 per cent from the previous year, reaching US$25.6 billion. Shipbuilding directly employs around 120,000 workers, roughly one percent of the country's total workforce, with indirect employment significantly higher in industrial hubs like Ulsan. Industry data shows so far this year, new orders have exceeded 13 trillion won (US$9.4 billion). In March, Hanwha Ocean secured a landmark $1.6 billion contract to build LNG carriers for Taiwan's Evergreen Marine, one of the largest single orders in the sector this year. WHY IS IT A 'BARGAINING CHIP'? Trump has showed "significant interest in South Korea-US shipbuilding cooperation," said South Korea's trade, industry and energy minister Ahn Duk-geun in April. Like the Europeans, the US shipbuilding industry has lagged behind South Korea and China, and as a result, the sector is seen as a "highly important bargaining chip in trade negotiations," he added. At an APEC finance ministers' meeting in South Korea in May, US Trade Representative Jamieson Greer met Chung Ki-sun, vice chairman of HD Hyundai, the country's largest shipbuilder, before he met Seoul's top officials. "South Korea's shipbuilding and defence industries see a window of opportunity," said Kim Dae-jong, a professor at Sejong University. HOW DOES IT HELP THE US? Greer also met with the CEO of Hanwha Ocean, the first non-American company authorised to carry out a dry-dock maintenance of a US Navy vessel. The move last September was seen as significant as it signalled that Washington sees South Korea, where it already has 28,000 US troops stationed, as a strategic defence hub. With worries growing about China's expanding naval fleet and potential conflict in the Taiwan Strait, the US has begun seeking reliable overseas shipyards to support its operations in the Asia-Pacific region. The global market for ship maintenance, repair, and overhaul is projected to exceed $60 billion annually, according to industry estimates. ANY PROBLEMS? Despite multi-billion-dollar contracts, data suggests South Korea's shipbuilding industry is losing ground in the global race. China dominates with South Korea's market share dropping, according to industry data. Demand for eco-friendly vessels is rising, and the government need to overhaul regulations "to support the development of next-generation eco-friendly vessels," Rhee Shin-hyung, a professor at Seoul National University, told AFP. South Korea's woeful demographics also make staffing hard. In Geoje, home to Samsung Heavy Industries, the number of residents in their 20s and 30s has nearly halved in recent years. Orders are down in 2025 which hints that "the shipbuilding boom may end sooner than the market anticipated," warned Rhee. Global ship orders between January and April fell by almost half the volume recorded during the same period last year. Shipbuilders have been enjoying a "supercycle" but unfortunately the "peak is expected to be lower and the boom shorter-lived compared to the past," Nam Chul, vice president at HD Hyundai Heavy Industries, told AFP.
