South Korean shipbuilder DSME has posted a loss for 2019 as the dearth of new vessel orders hit home.
The world's third-biggest shipbuilder said on Tuesday that it finished KRW 46.5bn ($39m) in the red, against profit of KRW 320bn in 2018.
"The company began to build ships that were ordered (years ago) in low-priced deals and, with fixed costs increasing due to a decline in new orders, there has been a deterioration in profitability," DSME said in a regulatory filing.
