DSME orders halve deficit

The embattled South Korean shipbuilder has received enough new shipbuilding orders in the first half of the year to halve net losses compared to last year.

Photo: Daewoo Shipbuilding & Marine Engineering/Yonhap

South Korean Daewoo Shipbuilding & Marine Engineering (DSME), the world’s fourth-largest shipbuilder measured on order books, has improved its earnings markedly in the first half of the year compared to the same period last year.

Even so, DSME has booked a net deficit of KRW 667.9 (USD 594.6m) – half of what the shipbuilder lost same time last year, according to media Yonhap News.

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