Samsung Heavy shares undergo record plunge on loss forecast
Its share sale plan also underscores bleak outlook for global shipbuilding industry
Thu, Dec 07, 2017 - 5:50 AM
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...