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Daewoo Shipbuilding has record loss as oil slump leads to delays

Singapore

DAEWOO Shipbuilding & Marine Engineering Co, the world's second-biggest shipbuilder, posted a record loss last year as it wrote down more charges from offshore projects under construction.

The net loss including minority interests totalled 5.13 trillion won (S$5.8 billion) in 2015, compared with profit of 33 billion won a year earlier, the Seoul-based company said in a regulatory filing on Monday.

Sales fell 23 per cent to 13 trillion won.

Daewoo Shipbuilding is among global shipyards that...

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