Daewoo Shipbuilding & Marine Engineering (DSME)

KS: 042660
South Korea

" The South Korean Daewoo Shipbuilding and Marine Engineering Co. is to establish a shipbuilding company in a joint venture with Iranian state-run companies, Tehran Times daily reported on Tuesday." (January 11, 2017)


"Major Iranian shipping company Islamic Republic of Iran Shipping Lines and oil producer Iranian Offshore Oil Co. have reached preliminary deals with South Korean shipyards for orders worth around $2.4 billion, people involved in the talks said Tuesday. The agreements are part of Iran’s efforts to make a comeback in global shipping after the lifting of international sanctions earlier this year, but completing the orders will depend on financing that the Iranians haven’t yet secured, the people said. 'The yards are making slots available to the Iranians starting in 2018 and 2019,' one of the people said. 'The Iranians are trying to make the 20% down payments through oil state-to-state deals to finalize the orders.' ... Islamic Republic of Iran Shipping Lines, known as IRISL, operates a fleet of container vessels, bulk carriers and tankers... Iranian Offshore Oil Co., a subsidiary of state oil giant National Iranian Oil Co., is in advanced talks for firm orders of at least five jack-up rigs with Daewoo Shipbuilding & Marine Engineering Co. at around $205 million each, the second person said." (The Wall Street Journal, “Iranian Oil, Shipping Companies Set For $2.4 Billion Ship Deals,” 6/7/2016)


"Daewoo Shipbuilding & Marine Engineering (DSME) has won the right to manage Iran's state-run shipbuilder, paving its way into the Middle Eastern nation with huge growth potential. DSME said Monday that it recently signed a memorandum of understanding (MOU) with the Iranian government to run Iran Shipbuilding & Offshore Industries Complex. Under the agreement, DSME will also transfer manufacturing technology to the Iranian shipbuilder. The deal is widely expected to help DSME and other domestic shipbuilders win orders from refiners and other companies in Iran... Iran has been seeking to cooperate with Korean shipbuilders to modernize its aging dockyards... According to DSME officials, the Industrial Development and Renovation Organization of Iran (IDRO), the state-run organization in charge of the nation's strategic industries such as automobiles and shipbuilding, is seeking to form a partnership with the Korean shipbuilder. Among others, IDRO wants to acquire advanced technology and dockyard management knowhow from DSME in order to transform Iran into a shipbuilding industry hub in the Middle East. The organization also requested DSME to invest in Iran to manufacture equipment and intermediary materials." (The Korea Times, “Daewoo Shipbuilding to manage Iranian shipbuilder,” 5/16/2016)