Won Depreciation To Raise Daewoo's Operating Profit by 43 Percent

Friday, April 06, 2001
The head of South Korea's Daewoo Shipbuilding said on Friday the won's depreciation would raise the company's operating profit by about 43 percent from its earlier target.

"If the (dollar/won) exchange rate stabilizes above 1,300, our operating profit will rise to about 300 billion won ($222.7 million) this year against an earlier target of 210.7 billion won," a high-ranking Daewoo official said.

Daewoo Shipbuilding & Marine Engineering Co., which was spun off from Daewoo Heavy Industries last October along with another unit, earlier made this year's forecast on the assumption the exchange rate would be around 1,200.

The official was quick to add that graduation from creditors' workout program would be possible by end-June, six months ahead of the year-end target.

He said negotiations to attract capital from Newcastle, a company formed by Australia-based investors, were in progress and due diligence would be possible in the second half of this year.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Nigeria's Tanker Ban Underscores Local Industry Disarray

The Nigerian president's sudden, unexpected and seemingly unilateral decision to ban nearly 100 oil tankers from the country's waters has sown confusion in the

CMA CGM Takes Second Guyanamax Boxship

The CMA CGM Group Informed that the CMA CGM MARSEILLE – 2nd vessel of its GUYANAMAX 3 - vessels series – was delivered in South Korea on July 29th. This 2,

LOC Opens Paris Office

LOC, a leading global marine and engineering consultancy for the shipping and offshore energy industry announces the expansion of its European operations with

Finance

Nigeria's Tanker Ban Underscores Local Industry Disarray

The Nigerian president's sudden, unexpected and seemingly unilateral decision to ban nearly 100 oil tankers from the country's waters has sown confusion in the

Australia's Massive Shipbuilding Plan Announced

The Australian Government has thrown domestic shipbuilders an A$89 billion (US$ 66 billion) lifeline. It plans to deliver a long-term plan for a strong and sustainable naval shipbuilding industry.

Matson Declares 2Q EPS Of $0.23

  Matson, Inc., a U.S. carrier in the Pacific, reported net income of $9.9 million, or $0.23 per diluted share for the quarter ended June 30, 2015. 

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1619 sec (6 req/sec)