Korean Shipbuilders Face Unpleasant Crisis
Korea’s three big shipbuilders combined order backlog has dropped 18.9 per cent in the past two years.
According to MANA, The Hana Institute of Finance estimated the combined order backlog of Hyundai Heavy Industries, Samsung Heavy Industries, Daewoo Shipbuilder and Marine Engineering (DSME) stood at $96 billion as of the end of March, compared to $118 billion at the end of 2013.
According to The Korea Herald, DSME held the largest backlog totalling $36.8 billion, SHI came in with $30 billion, and HHI with $29 billion.
The big three shipyards net loss totalled 7.7 trillion won ($10 billion), according to The Korea Herald, and was the first time all three registered losses.