Marine Link
Tuesday, September 27, 2016

Hyundai Heavy Q3 Profit Drops

October 31, 2008

·        Higher steel costs weigh on margins

·        Outlook weakens but top players set to weather downturn

Hyundai Heavy Industries Co Ltd 009540.KS reported on Oct 30 that its quarterly net profit fell by a third, hit by rising raw materials costs and losses from the weaker won.

The shipbuilding industry faces declining orders and falling shipping demand amid a deepening global downturn. Margins are set to fall with new ship prices turning lower and raw material prices rising.

(Source: Reuters)

 



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News