Shipbuilder Hyundai Mipo in Profit Freefall

Korea Times
Friday, August 24, 2012

Korean Shipbuilder Hyundai Mipo reports net plunges on falling orders in second quarter of 2012.

Hyundai Mipo Dockyard Co.,reports that its second-quarter earnings dropped 76 percent from a year earlier mainly due to a decline in new shipbuilding orders reports Korea Times.

Net profit reached 21.6 billion won ($19.1 million) in the April-June period, compared with a profit of 88.5 billion won a year earlier, the company said in a regulatory filing.

Sales sank 76 percent on-year to reach 1.09 trillion won over the cited period, and operating income also fell 6.4 percent to 27 billion won, it said.



Shares of Hyundai Mipo were trading at 128,500 won on the Seoul bourse as of 11:05 a.m., down 3.75 percent from Thursday's close.



Hyundai Mipo is a unit of Hyundai Heavy Industries Co., the world's leading shipbuilder.

 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Fincantieri to Build Third New Princess Cruises Ship

Fincantieri says it has signed an agreement with Carnival Corp. to build  the new cruise ship for its Princess Cruises brand at a cost of about 600 million euros.

ATB Barge Project for Murray & Associates

Murray & Associates, LLC has been commissioned to deliver a comprehensive design package for an 185,000 BBL Chemical Tank Barge new construction project. The

Gladding-Hearn Builds New Boat for Delaware Pilots

The Delaware pilots association has ordered its third pilot boat of the popular Chesapeake class from Gladding-Hearn Shipbuilding, Duclos Corporation. Delivery

Finance

FERC Approves Freeport LNG Export Project

U.S. federal regulators on Wednesday approved construction of Freeport LNG Development LP's liquefied natural gas export project in Texas. Freeport is the third U.

Kurdish Crude Lightered, Destination Unknown

Part of a Kurdish oil cargo has been offloaded from a Greek-managed tanker into another tanker in the South China Sea, but mystery surrounds the identity of the

Asia Dry Bulk Capesize Rates Stay Flat

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1426 sec (7 req/sec)