Korea's so-called 'Big Three' shipbuilders are headed for record losses this year due largely to delays in the construction of offshore facilities and tumbling new orders.
According to industry sources, Hyundai Heavy Industries,… Daewoo Shipbuilding & Marine Engineering… and Samsung Heavy Industries,… are to post a combined loss of up to five-point-one billion U.S. dollars for the year.
The three have already racked up a combined loss of four billion dollars in the first half.
For the world's top shipbuilder, Hyundai Heavy Industries, it'll mark the first time it has posted losses for two consecutive years.
A company official said the losses are inevitable, and minimizing the impact is the key concern.