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HomeMaritime NewsRegionsAsiaDSME posts huge loss of $2bn in Q2

DSME posts huge loss of $2bn in Q2

DSME posts huge loss of $2bn in Q2
Daewoo Shipbuilding & Marine Engineering (DSME) recorded a huge KRW2.39trn ($2.05bn) net loss in the second quarter as the yard continues to struggle with a lack of offshore orders.

The second quarter loss was a reversal from the profit of KRW17.2bn posted in the previous corresponding period of last year.

DSME said the quarterly revenue declined by 63% year-on-year to KRW1.66trn.

In the first half of 2015, the South Korean shipbuilder posted a loss of KRW2.56trn, while operating loss stood at KRW3.08trn.

Compatriot yards Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) have earlier also reported second quarter losses of KRW242bn and KRW1.1trn, respectively.

TAGS: Shipyards DSME
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