You are here

Samsung Heavy shares undergo record plunge on loss forecast

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

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.


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...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to