Keppel Profits Surge 62%

Thursday, July 19, 2001
Ship repair specialist Keppel Hitachi Zosen saw its first-half net profit surge 62.3 percent to $6.57 million versus the same period last year. The Singapore-based firm said it expected to at least maintain its performance in the second half. With the surge in the interim profit, Keppel Hitachi had achieved over 60 percent of analysts' consensus profit forecast for the year of $10.2 million from 16 analysts, according to Multex Global Estimates. Keppel Hitachi, a unit of conglomerate Keppel Corporation, said a strong order book and completion of several conversion and newbuilding jobs boosted its revenue by 70 percent to $175 million. It said the acquisition of Keppel Shipyard Pte Ltd as part of a restructuring exercise also helped lift its revenue. The firm said its overseas yards turned in a mixed performance. Keppel said it managed to secure $68 million conversion/new building contract. In term of operating performance, profit rose 19 percent to $16 million. Looking forward, Keppel said the second half would see the completion of the first of two cable-laying ships, a semi-submersible tender rig, a floating storage and offloading conversion, four tugs and a drilling tender jumboization. It said there had been a pick-up in the ship repair market, but volume and prices were yet to show any major improvement. Keppel said the offshore sector remained buoyant, with many conversion projects in the pipeline. - (Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

Turkey to Modernize Pakistan’s Subs

The Turkish defense firm Defense Technologies and Engineering (STM) won the tender to modernize Pakistan's submarines against its French competitor DCNS, reports Daily Sabah.

Turkey Launches F-513 TCG Burgazada

Turkish Navy’s third Milgem class corvette, the F-513 TCG Burgazada, created as part of the MILGEM project, was launched with a ceremony attended by Turkish President

SeaPro FourStroke Making Gains in the Commercial Market

Mercury Marine’s family of SeaPro FourStroke outboard engines is suited for high-hour applications and harsh environments, according to the manufacturer, who said

Navigation

Expanded Panama Canal Nears Inauguration

As the global shipping industry facing tough weather, the $5.25 billion expansion of the Panama canal is set to open Sunday (June 26), reports AP. The deeper,

PGS, Radio Holland Expand Service Agreement

Norwegian marine geophysical company PGS has extended its non-exclusive service agreement with Radio Holland for navigation and communication services onboard nine seismic vessels in its global fleet.

Simrad Tech for Sydney Fast Ferries

Four new fast ferries, owned and managed by Manly Ferries and operating in the busy waters of Sydney Harbour, will use Simrad technology for safe navigation. The

 
 
Maritime Security Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1082 sec (9 req/sec)