Hyundai Heavy Reports Q2 Profit Jump

Tuesday, July 29, 2008

Hyundai Heavy Industries Co Ltd., reported a 57 percent jump in quarterly net profit on ship orders and growth in non-shipbuilding units, Reuters said
Profits from affiliates and higher interest income added to second quarter net profit, the company said.
Hyundai and other South Korean shipbuilders are poised to maintain strong earnings momentum as they are enjoying pricey order backlogs for crude and bulk carriers as the energy industry booms, although they could be impacted by higher ship plate and other raw material prices.
Despite the global economic slowdown, shipyards in the country should be supported by better-than-expected order volume in the second half of the year, analysts said.

Source:  Reuters

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Cecon Secures Finances to Complete Newbuild

Cecon ASA has petitioned for a debt restructuring agreement (in Norwegian: gjeldsforhandling). Certain funds managed by York Capital Management Global Advisors,

Libyan State Oil Firm NOC Will Remain Independent

Libya's Tripoli-based state firm National Oil Corp (NOC) will remain independent, it said on Thursday, in an apparent attempt to reassure foreign oil buyers it will stay out of the country's conflict.

Oil Prices Retreat from Short-covering Rebound

Global crude prices fell more than $1 a barrel on Thursday, retreating from a short-covering charged rally as traders bet the market had not shaken off a six-month long rout on oversupply concerns.

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction 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: 0.1896 sec (5 req/sec)