Shipyards Struggling with Financial Difficulties

Hyundai Heavy Industries (HHI), Samsung Heavy Industries (010140.KS) (SHI) and Daewoo Shipbuilding and Marine Engineering (DSME) are struggling with setting their business goals for next year. The three shipyards are facing poor business circumstances in 2017, especially when it comes to their finances. Daewoo Shipbuilding Marine Engineering (DSME) will try to achieve this year’s profits amounting to about USD 6.2 trillion. The shipyard is expected to receive orders worth USD 10.8 billion, but these have been postponed until June. Hyundai Heavy Industries (HHI) as DSME plans to achieve a target in the amount of USD 9.5 trillion. HHI, DSME and SHI are projecting some losses for next year. These shipyards have earned about USD 1.9 billion in 1997 and 2017 could be similar.