(MENAFN) Daewoo Shipbuilding & Marine Engineering Co. (DSME), the struggling South Korean shipbuilder anticipates its business to make a turnaround this year after last year's record loss of USD4.2 billion.
Accordingly, the second largest Seoul-based shipyard in the world stated that it has revealed and assessed all potential losses in the near future plus it's currently working extensively to cut cost pay off.
The giant forecasts to register operating revenue of nearly USD412 million this year, and targets orders worth USD8.9 million, thus as of end-Dec, its order backlog touched USD37 million.
"We are controlling losses related to offshore plants, and additional losses and uncertainties have been significantly removed to some degree," stated the behemoth's president.
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