ShippingWatch

Hyundai Heavy Industries achieves profit in Q2 2016

Major South Korean shipyard Hyundai Heavy Industries managed to deliver a bottom line in the black in the second quarter of this year, writes The Korea Herald. PwC has approved the company's restructuring plan.

Photo: Lee Jin-man/AP/POLFOTO/arkiv

South Korean shipyard Hyundai Heavy Industries (HHI) delivered a net profit in the second quarter of this year, writes The Korea Herald. The yard giant released its interim report Wednesday.

Just one week ago it was reported that Hyundai Heavy Industries was projected to see a decline in the operating profit in the second quarter 2016, which would be mainly attributable to losses from voluntary retirement expenses. Because of the overall downturn in the industry as well as increases in costs, Hyundai lost a total of USD 1.2 billion last year.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs