It said fresh business totalled $2.1bn in January and February.

The figures follow its biggest ever operating loss in 2014.

The world's largest shipbuilder, hit by Chinese competition and strike action by workers, said the deficit was KRW 3.25 trillion ($2.93bn) last year, compared to a profit of KRW 802bn in 2013.

The net loss was KRW 2.2 trillion, down from a profit of KRW 146bn the year before.

The