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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Korea Shipbuilding & Offshore Engineering Co., Ltd.    A009540   KR7009540006

KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO., LTD.

(A009540)
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Korea Shipbuilding & Offshore Engineering : Hyundai Heavy Industries' shipbuilding arm in contract for new crude carriers

11/06/2020 | 11:13am EST

Korea Shipbuilding & Offshore Engineering is set to win a new contract to build 10 Very Large Crude Carriers as South Korea's shipbuilding industry grapples with the coronavirus pandemic.

KSOE, which is owned by Hyundai Heavy Industries, is close to securing the order and has signed a letter of intent with Everest Korea Finance Advisory in Seoul to build the ships with various clients, TradeWinds and Yonhap reported Friday.

Each ship is priced at $85 million. Everest Korea, funded by Chinese investment firm Everest Venture Capital, could be seeking a long-term charter contract for the ships and South Korean technicians to advise on shipbuilding, or consulting.

The deal is not final. Only when Everest Korea secures a long-term charter contract for the ships, will it lead to a finalized order, the reports say.

Hyundai Heavy Industries has had a difficult year due to the global economic downturn. The company has yet to reopen its manufacturing center at Gunsan Shipyard in South Korea, KBS reported Wednesday.

The shipyard has been closed for three years amid an industry-wide slump and increased competition from Chinese shipbuilders, but Hyundai could still be interested in acquiring Doosan Infracore, a South Korean machinery manufacturer, according to KBS.

The COVID-19 pandemic has had an impact on Hyundai's employees, but wage bargaining has resumed between labor and management, according to News 1.

Hyundai's labor and management met on Thursday to discuss demands, but managers said working hours could be adjusted to address the issue of an "idle workforce," as building orders have slowed this year.

Hyundai has been successful in recent bids. Last week the company was named the preferred bidder for a domestically developed next-generation destroyer following a controversial court ruling.

Copyright 2020 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source International Top News

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI HCN CO.,LTD. -2.52% 3670 End-of-day quote.-4.80%
KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO., LTD. -3.80% 114000 End-of-day quote.5.07%
All news about KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO., LTD.
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More news
Financials
Sales 2020 15 497 B 14,1 B 14,1 B
Net income 2020 57,5 B 0,05 B 0,05 B
Net Debt 2020 2 696 B 2,45 B 2,45 B
P/E ratio 2020 70,4x
Yield 2020 0,34%
Capitalization 8 061 B 7 349 M 7 312 M
EV / Sales 2020 520x
EV / Sales 2021 526x
Nbr of Employees -
Free-Float 57,6%
Chart KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO., LTD.
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Korea Shipbuilding & Offshore Engineering Co., Ltd. Technical Analysis Chart | A009540 | KR7009540006 | MarketScreener
Technical analysis trends KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Average target price 120 782,61 KRW
Last Close Price 114 000,00 KRW
Spread / Highest target 31,6%
Spread / Average Target 5,95%
Spread / Lowest Target -32,5%
EPS Revisions
Managers and Directors
NameTitle
Oh-Gap Kwon Co-Chief Executive Officer & Director
Sam-Hyeon Gah Co-Chief Executive Officer & Director
Young-Chul Cho Chief Financial Officer & Director
Hyuk Choe Independent Director
Suk-Sig Lim Independent Director