South Korea’s Samsung Heavy Industries is not expected to return to the black until 2023, a top shipbuilding analyst has said.
Despite the strong newbuilding orders seen this year and an improvement in newbuilding prices, SHI's management still expects to post a loss next year, said Nomura analyst Jaehyung Choi.
The company blames the burden of increased fixed costs amid a delayed offshore new order pipeline plus further provisioning for steel price hikes.
