Korean Shipbuilders Face Unpleasant Crisis

Korea’s three big shipbuilders combined order backlog has dropped 18.9 per cent in the past two years.

News ID: 65274

Date: 22 May 2016 - 09:31

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.