The walk-out, which ended in late July, is said to have caused about 816.5 billion won in lost production, according to industry officials.ĭaewoo　Shipbuilding　&　Marine　Engineering's　shipyard The company’s loss may come worse than market expectations as it suffered from a 51-day strike by its subcontractors. The company said its larger loss was also due to 180 billion won in a one-off charge against a price hike in steel plates used for shipbuilding.ĭaewoo Shipbuilding has yet to report its second-quarter results but is widely expected to post a loss of at least 75 billion won. Samsung Heavy saw its sales fall 3.9% on quarter to 1.43 trillion won, while its operating loss widened to 255.8 billion won due to a delay in the production of vessels ordered from Russia in the wake of the Russia-Ukraine war. Last month, KSOE reported that its second-quarter sales rose 7.2% from the first quarter to 4.19 trillion won ($3.2 billion) thanks to increased ship orders, but it remained in the red with 265.1 billion won in operating loss, although its shortfall dwindled from a loss of 396.3 billion won in the prior quarter. However, the Korean shipbuilders are witnessing their profitability worsening, weighed by higher steel plate prices and lower margins from cheap orders in the past.

LNG　carriers　are　more　profitable　than　oil　tankers　and　container　ships In the first six months alone, Korean shipyards won 9.94 million compensated gross tons (CGTs) in shipbuilding orders, returning to the world’s top shipbuilder post for the first time in four years, according to market researcher Clarkson Research Service.Ĭhina, Korea’s strongest rival, sled to second place with a combined 9.26 million CGTs. Samsung Heavy clinched orders worth $6.3 billion, or 71.6% of its annual target of $8.8 billion, over the same period, while Daewoo Shipbuilding won $6.43 billion, or 72.2% of its target of $8.9 billion. KSOE, the intermediate shipbuilding holding company of Hyundai Heavy Industries Group, won $17.8 billion in new orders in the January-July period, already surpassing its annual goal of $17.44 billion. – have secured orders worth a combined $30.5 billion in the first seven months of this year, close to 87% of their annual target. (KSOE), Daewoo Shipbuilding & Marine Engineering Co. South Korea’s three major shipbuilders remain in the red despite hefty new ship orders so far this year, led by high-priced vessels such as liquefied natural gas carriers.Īccording to industry officials on Monday, the “Big Three,” – Korea Shipbuilding & Offshore Engineering Co.

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