South Korea’s big three shipbuilders probably posted a record operating loss in 2015, stung by a combination of a prolonged industry slump, a series of order cancellations and a delay in the construction of offshore facilities, data showed Thursday.
According to the industry data, the top three shipyards – Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. – are estimated to have racked up a combined operating loss of more than 8 trillion won ($6.66 billion) won last year.
If confirmed, it would mark the first time for all of the nation’s three largest industry players to register operating losses.
Daewoo Shipbuilding & Marine Engineering’s 2015 operating losses are estimated to be about 5 trillion won, with corresponding figures for Hyundai Heavy Industries and Samsung Heavy Industries reaching 1.5 trillion won and 1.7 trillion won each. (yonhap)
Source : The Korea Herald Newspaper, January 8, 2016