HMD suffers in Q2

Hyundai Mipo Dockyard (HMD) has posted a second consecutive loss for the current financial year.

The South Korean shipbuilder reported a second quarter loss of KRW 200bn ($200m), according to a regulatory filing.

The figure was more than four times analyst’s estimates of KRW 48.8bn. A year ago the shipbuilder posted a loss of KRW 121.7bn.

Revenue for the three months was just shy of KRW 900bn versus the KRW 965.4bn seen in the first quarter of 2014.

As of the end of June HMD had won orders for 35 ships worth $1.4bn. A year ago it had secured 70 orders worth $2.3bn at the same stage.

Figures from the shipbuilder say its order backlog at the halfway stage of the year is 256 vessels worth $9.6bn.