Samsung Heavy Industries Swings to Full Year Loss

Samsung Heavy Industries Swings to Full Year Loss

South Korean shipbuilder Samsung Heavy Industries (SHI) posted a KRW 1.2 trillion (USD 998 million) net profit loss for the financial year ending December 31st, plunging from last year’s KRW 147 bn profit. The company’s operating profit loss dropped to KRW 1.5...
Relentless Market Steers K Line to Profit Warning

Relentless Market Steers K Line to Profit Warning

Japanese shipping company Kawasaki Kisen Kaisha (“K” Line) has downgraded its forecast of consolidated financial results for fiscal year ending March 2016 announced in January amid worsening conditions in the industry. The company said it expects to log JPY 50bn loss...