Singapore competition watchdog clears S Korean shipbuilders' merger

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THE Competition and Consumer Commission of Singapore (CCCS) has cleared the proposed merger between Korea Shipbuilding & Marine Engineering (KSOE) and Daewoo Shipbuilding & Marine Engineering (DSME). Read more at The Business Times.

The two parties are also close competitors in the relevant markets.

These alternative suppliers have sufficient excess capacities to satisfy a significant portion of any demand that switches away from the merged entity, in the event the merged entity raises prices. KSOE's Singapore branch operates as a sales office. The company produces a range of commercial vessels, including oil tankers, containerships, liquefied natural gas carriers and liquefied petroleum gas carriers.

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