South Korean yard, STX Offshore & Shipbuilding, is expected to post a net loss of US$5.24 million for the second quarter of 2009.
"Although our second quarter performance would not excel those of the big three shipbuilders, we are not in the state of 'liquidity crisis' as some speculate," an STX O&S spokesman told Vinamaso.
The company said that the increase in investment costs due to aggressive expansion plans and losses at other subsidiaries were the main causes for the loss.
Kim Hong-kyun of the Seoul-based Hanwha Securities, said that investments were still being made at STX O&S subsidiaries, STX Europe, STX Dalian.
Meanwhile, STX Pan Ocean is also expected to post net loss figures.
