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

Shipbuilding

New Power Optimization Solution for LNG Carriers

NAPA and DSME launch tailored NAPA-DSME Power Solution for LNG carriers; leading LNG carrier shipyard offers specialized performance monitoring solution   South Korean shipbuilder,

BWTS Newcomer Sees Early Success

Norwegian manufacturer of ballast water treatment systems MMC Green Technology reports it has sold more than 70 systems since going commercial with its MMC BWMS two years ago,

Design & Operation: Wind Farm Support Vessels

Offshore wind farm development has been led globally by the UK, followed by Germany. Both countries have governments with long term commitments to renewable energy.

Finance

US Oil Contango Vanishing as Supply Glut Shifts Abroad

The U.S. oil market is on the brink of returning to a more bullish footing known as backwardation for the first time in six months, with the discount for prompt

Mexico Removes Bid Limit on Shallow Water Oil Tenders

Mexico's oil regulator voted on Friday to relax previously established rules on bidding terms and contracts that form the first step in an historic sector opening

Wärtsilä Acquires L-3 MSI

Wärtsilä completes acquisition of L-3 Marine Systems International    Wärtsilä Corporation announced that its acquisition of the Germany based L-3 Marine Systems

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Simulators Sonar
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: 0.1391 sec (7 req/sec)