[한국조선해양 Concall] "Orders to Slightly Decrease in Second Half"

[Asia Economy Reporter Hwang Yoon-joo] Korea Shipbuilding & Offshore Engineering stated in its Q2 earnings conference call that "new orders in the second half of the year are expected to slightly decrease."

A representative from Korea Shipbuilding & Offshore Engineering explained, "Due to the COVID-19 pandemic and the decline in international oil prices, shipowners are hesitating to place new ship orders and scrubber retrofit orders in the second half of the year," adding, "Even major competitors have no scrubber retrofit orders except for new builds."

They continued, "We will carefully monitor the COVID-19 situation and international oil prices and provide an updated outlook on orders in the third quarter."