Guangzhou Shipyard Sees Profit Increase

Thursday, October 19, 2006
According to reports, Guangzhou Shipyard International Co. Ltd., who has already seen its Hong Kong-listed shares surge almost six-fold this year, said it will report a 500% third-quarter profit increase from last year, thanks to higher efficiency and improved margins. A shorter shipbuilding cycle has also helped Guangzhou Shipyard, the only listed shipbuilding unit of China's largest ship builder, China State Shipbuilding Corp. (CSSC), to sell more ships at higher margins during the quarter ended September 30. The company posted a $1m profit for the third quarter of 2005. In an announcement on Tuesday, it forecasted a five-fold increase in the same period. The company is benefiting from high demand for new tankers and low labour costs that help it win orders from overseas. Source: China Knowledge
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

Petrobras P-66 Platform Module to Boost Production

The P-66 platform’s first modules, built at the Tomé Ferrostaal Consortium’s Module Plant located at the Port of Maceió, Alagoas, are now ready and loaded on the São Tomé barge.

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

Shipbuilding

Wärtsilä Propulsion Equipment for 2 Fishing Vessels

Two new 78 metre purser/trawler fishing vessels being designed and built at Karstensen Shipyard in Denmark will feature Wärtsilä's main propulsion and control equipment.

Seaspan Takes Delivery of 5th 10000 TEU Containership

Seaspan Corporation announced yesterday that it accepted delivery of a 10000 TEU containership, the MOL Brightness. The new containership, which was constructed

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1425 sec (7 req/sec)