April 27, 2024
Industrials
Korean shipbuilders continue downturn in Jan.
[THE INVESTOR] South Korean shipbuilders are anticipating another tough year ahead of them as they have only secured three shipbuilding deals in January, valued at a combined 2 trillion won (US$1.72 billion), industry sources said on Feb. 1.
According to the sources, Samsung Heavy Industries clinched two deals last month, valued at 1.77 trillion won, to build an offshore facility and a floating storage and regasification ship. Hyundai Heavy Industries bagged a 200 billion-won deal to build two oil tankers, while Daewoo Shipbuilding & Marine Engineering failed to secure any such deal last month.
The shipbuilding industry, once regarded as the backbone of the country’s economic growth and job creation, has been reeling from mounting losses caused by an industry-wide slump and increased costs.
According to industry sources, HHI is forecast to have swung to black in 2016, while the two other shipyards are estimated to have suffered losses.
(theinvestor@heraldcorp.com)
According to the sources, Samsung Heavy Industries clinched two deals last month, valued at 1.77 trillion won, to build an offshore facility and a floating storage and regasification ship. Hyundai Heavy Industries bagged a 200 billion-won deal to build two oil tankers, while Daewoo Shipbuilding & Marine Engineering failed to secure any such deal last month.
The shipbuilding industry, once regarded as the backbone of the country’s economic growth and job creation, has been reeling from mounting losses caused by an industry-wide slump and increased costs.
According to industry sources, HHI is forecast to have swung to black in 2016, while the two other shipyards are estimated to have suffered losses.
(theinvestor@heraldcorp.com)
