Hanwha Ocean said on the 27th during a third-quarter earnings conference call that "the Subic shipyard currently has a backlog worth about $3 billion (about 4.3 trillion won), and it is focusing on improving productivity with a turnaround next year as its goal."

The company said, "There is some volatility due to the follow-on effects of recent sanctions by China, but we are reviewing countermeasures from multiple angles to minimize the impact," adding, "On a cumulative basis for the third quarter this year, revenue was about $120 million (about 172 billion won), and we recorded an operating loss of about $27.7 million (about 39.7 billion won)."

Hanwha Philly Shipyard Inc. in the U.S. /Courtesy of Hanwha Ocean
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