After long years of order freeze, the shipbuilding market is showing signs of thawing. The performance of Korea's shipbuilding industry which underwent a long period of "order drought", is showing improvement thanks to its painstaking restructuring efforts that led to a reduction in overall cost.
The newbuilding price is also hitting the bottom. As global environmental regulations are toughened and the commodity prices are rebounding, newbuilding orders are expected to recover from the latter half of this year.
Some analysts predicted that the bulker market would show the recovery first, followed by tanker and containership markets later.
Hyundai Heavy Industries chalked up sales of 39.31 trillion won last year, with its operating profit estimated at 1.64 trillion won. Although sales fell 14.9 percent year on year, the shipyard succeeded in rebounding from a 1.54-trillion-won loss in 2015.
It was the first time for the shipyard's annual operating profit to exceed the 1-trillion-won level since 2012 (2.0 trillion won).
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip
South Korea’s Hanwha Asset Management Co. Ltd. will launch three global funds for infrastructure, real estate and private equity investments, with $1 billion commitments from two insurance units of its parent group. Hanwha Life Insurance Co. Ltd. and Hanwha General&hellip
An investment firm of South Korea’s Samsung Life Insurance Co. Ltd is forming a blind-pool real estate fund worth around 500 billion won ($443 million) with commitments from other Samsung financial units to acquire a building of the Organisation for Economic Co-operation&hellip