Hyundai Heavy Industries, the world's largest shipbuilder, will not meet its full-year profit target after reporting a half-year net loss of 53.1 billion won ($41.68 million), mainly due to a write-off. "Our net profit will be around 100 billion won or slightly less because we have to clean up losses coming from the cancellation of shares at Hyundai Petrochemical," a spokesman said. The original earnings target was 300 billion won. However, analysts said the longer term outlook was bright. Hyundai Heavy wrote off 105 billion won, representing its entire 49.87 percent stake in unlisted Hyundai Petrochemical. Hanvit Bank, main creditor of the petrochemical company, had asked Hyundai Heavy to cancel its shares in Hyundai Petrochemical to help revive the troubled petrochemicals firm.