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Samsung Heavy Slashes 2016 Operating Loss

first_imgzoom The South Korean shipbuilder Samsung Heavy Industries (SHI) has managed to reduce its operating loss by around 90 percent due to a stabilization in shipbuilding and offshore construction, the company said in a stock exchange filing.SHI ended the year with an operating loss of KRW 147.2 million (USD 126,200), against an operating loss of KRW 1.5 billion (USD 1.28 million) recorded a year earlier.The data provided in the filing shows that the shipbuilder also cut its net loss by some KRW 1 billion, which represents an improvement of 88.5 percent.At the end of 2016 the conglomerate’s net loss stood at KRW 138.8 million, compared to a net loss of KRW 1.2 billion seen in the full year 2015.SHI’s revenues improved to KRW 10.4 billion from KRW 9.7 billion year-on-year, rising by 7.2 percent.Due to forecasts that the shipbuilding industry could slightly improve during 2017, the shipbuilder decided to raise its orderbook goal to USD 6 billion, from last year’s USD 5.3 billion target, after winning a major order to build a large offshore platform at the beginning of the year.World Maritime News Stafflast_img read more

Avatar 2 is now scheduled for 2020 with third film coming out

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Evacuated northern Alberta residents happy to return home

first_imgAPTN National NewsA community in northern Alberta is breathing a sigh of relief now that residents are allowed to return home.Several out of control forest fires forced residents to leave earlier this week.APTN’s Chris Stewart talked to some of the people are glad to be home.last_img