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Iranian Ship Linked to Houthi Attacks Heads Home Amid Tensions
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
Hyundai Heavy Industries is booming, Q1 Net Profit Up 21.16%
Hyundai Heavy Industries, the world’s biggest shipbuilder, today reported first quarter net profit of KRW 903 billion, an increase of 21.16 percent year-on-year.
Sales rose 16.92 percent to KRW 6.3 trillion won with operating profit up 10.99 percent to 991.8 billion. Hyundai Heavy’s annual sales target for this year is KRW 26.9 trillion and new orders of USD 26.6 billion.
The Company’s operating profits were buoyed by increased sales in the shipbuilding and engine & machinery business, and rebounding construction equipment sales in the Chinese market.
The first quarter performance results were the first under which the Company applied the new International Financial Reporting Standards.
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