Korean shipyard giant faces billion dollar losses

South Korean shipyard Daewoo is facing a giant loss in 2015, predict industry sources. According to media Yonhap, cancelled contracts have hit profits to the shipyard, which has the world's largest order book.

Photo: Thorbjørn Hansen

Shipyard giant Daewoo is facing a USD 4.4 billion operating loss for 2015, six billion more than previously thought, say industry analysts.

This is according to Korean media bureau Yonhap Thursday.

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