(MENAFN) South Korea's three biggest shipbuilders logged the largest-ever loss in the second-quarter period, due to losses from the delayed building of offshore plants, a filing showed.
A combined operating loss of Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering reached USD4.1 billion in the period.
Daewoo Shipbuilding, the No.3 shipbuilding company, posted the largest operating loss of USD2.6 billion in the quarter, followed by the No.2 shipbuilder Samsung Heavy with USD1.34 billion.
The worst-ever losses by South Korean shipbuilders resulted from the delayed building and the changed design in offshore plants, orders of which the big three received at a lower price.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.