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Samsung Heavy shares undergo record plunge on loss forecast

Its share sale plan also underscores bleak outlook for global shipbuilding industry

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Shipyards from South Korea to Singapore have been struggling to emerge from losses since the global financial crisis amid excess capacity worldwide and a plunge in oil prices.

Singapore

SAMSUNG Heavy Industries Co plunged the most on record in Seoul trading after forecasting surprise losses and announcing a share sale plan, underscoring the bleak outlook for the global shipbuilding industry.

The world's third largest shipbuilder said on Wednesday that it...

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