Regulatory filings showed that South Korea’s shipbuilders suffered record losses last year.
 
Hyundai Heavy Industries suffered one-point-54 trillion won, or about one-point-three billion U.S. dollars, in operating losses. Samsung Heavy Industries also recorded an operating loss of one-point-five trillion won, or one-point-26 billion dollars.
 
Daewoo Shipbuilding & Marine Engineering is also expected to post a loss of up to three trillion won, or about two-point-five billion dollars, this year after falling profits forced it to request additional cash loans from its creditors.
 
This is the first time that South Korea’s three largest shipbuilders have suffered trillions of won in losses in the same year.
 
Analysts said canceled offshore plant contracts, delayed payments, and declining orders for container and liquefied natural gas carriers contributed to the record losses at the shipbuilding arms of Hyundai and Samsung.