South Korean Top Shipbuilders Post Good Q3 Results
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

South Korean Top Shipbuilders Post Good Q3 Results

18 Nov 2009 (Last Updated November 18th, 2009 18:30)

South Korea's top four shipbuilders have posted good business results in the third quarter of 2009, according to reports. Hyundai Heavy Industries' operating profit has reached over 54% year-on-year to KRW531.7bn ($460m), while Samsung's operating profit touched KRW266.4bn. ST

South Korea’s top four shipbuilders have posted good business results in the third quarter of 2009, according to reports.

Hyundai Heavy Industries’ operating profit has reached over 54% year-on-year to KRW531.7bn ($460m), while Samsung’s operating profit touched KRW266.4bn.

STX Offshore & Shipbuilding’s Q3 revenue rose by 52% to KRW1.1532tn compared to the same period in 2008 and its operating profit stood at KRW51.4bn.

Daewoo posted its operating profit of KRW158.7bn, which is up 48% year-on-year.

The country’s shipbuilders, however, lost their top position to China in terms of both new orders and order backlog.

Global top 22 shipowners, other than South Korean firms, have about 434 ships on order at South Korean shipyards, 246 of which are scheduled to be delivered in 2009 and 2010.

Free Report

COVID-19 Executive Briefing

Enter your details here to register for the event and receive your free report.

FREE REPORT: GlobalData’s 60-page COVID-19 Executive Briefing report will help you understand the COVID-19 outbreak, its economic impact, and implications for specific sectors.

By clicking the “Submit” button above, you accept the Terms & Conditions and acknowledge that your data will be used as described in the Arena Financial Privacy Policy.

We will also collect and use the information you provide for carefully considered and specific purposes, where we believe we have a legitimate interest in doing so, for example to send you communications about similar products and services we offer. We will always give you an option to opt out of any future communications from us. You can find out more about our legitimate interest activity in our privacy policy here. ‘We’ includes Verdict Media Limited and other GlobalData brands as detailed here.