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).
A group of South Korean insurers will invest 69 billion won ($60 million) in 29-year senior debt secured on Australia’s National Archives Preservation Facility in Canberra, attracted to its long maturity, as they are keen to extend asset durations ahead&hellip
The Construction Workers Mutual Aid Association (CWMAA) will acquire a language center building of the University of New South Wales (UNSW) in Sydney for A$71 million ($56 million), jointly with a South Korean insurance company. CWMAA, with $2.8 billion in&hellip
South Korean banks and institutional investors will provide $140 million in syndicated loans to a US gas-fired plant project in Pennsylvania, part of $460 million loans originated by BNP Paribas to build the power plant. Of the $140 million loans,&hellip