Marine Link
Thursday, October 20, 2016

Korea Shipbuilder's 2013 Profit Falls 86%

February 7, 2014

Image courtesy of HHI

Image courtesy of HHI

According to the Yonhap News Agency Hyundai Heavy Industries Co., the world's largest shipbuilder informed Thursday that its net profit tumbled 86 percent last year from a year ago due to a fall in ship prices.

Net income came to 146.3 billion won (US$136 million) last year compared with 1.03 trillion won a year ago, report Yonhap, citing a HHI regulatory filing.

Hyundai Shipbuilding Division, claims to be the world's number one shipbuilder, leading the global shipbuilding industry with a 15% share of the market. The Hyundai shipyard stretches over four kilometers along the coast of Mipo Bay in Ulsan, Korea. The Shipbuilding Division is capable of building all types of ships to meet various demands from its clients.

Source: Yonhap News/MarineLink

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

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.

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