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More Asian defaults loom in 2017 amid Korea shipyard debt

The top four South Korean shipbuilders have  2.3 trillion won in notes maturing next year
Saturday, December 24, 2016 - 05:50

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Hyundai Heavy, Daewoo Shipbuilding and Samsung Heavy posted multiple quarters of losses in the past year-and-a-half amid delivery delays and a fall in demand for vessels and oil platforms.

Seoul

AS if investors in Asia's troubled corporate bond markets don't have enough to worry about, concern is mounting about whether South Korean shipyards will be able to repay record amounts of debt coming due next year.

Yields on bonds of Daewoo Shipbuilding & Marine

sentifi.com

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