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 Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

Renovated Research Vessel Sets Sail

French scientific research vessel completely renovated in life extension project. French research vessel Marion Dufresne II left Damen Shiprepair Dunkerque (part

Renovated Marion Dufresne II sets sail on time

French scientific research vessel completely renovated in life extension project The renowned French research vessel, Marion Dufresne II left Damen Shiprepair

Strategic Marine’s Stock Program Full Power Ahead

Strategic Marine, the specialist shipbuilder and fabricator, has confirmed its stock program of personnel transport vessels is market-ready. “Our stock program

Navigation

Egypt Says Finishes Work on New Suez Canal

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah al-Sisi sees as a symbol of national pride and

MacArthur Lock Dewatered for Emergency Repairs

The U.S. Army Corps of Engineers, Detroit District, announced the MacArthur Lock, located on the Soo Locks at Sault Ste. Marie, Mich., is experiencing mechanical

VARD SeaQ Bridge gets Lilaas touch

‘Finger-grip’ vessel control offering precise tactile feedback may seem radical for those accustomed to conventional levers, but the combination is proving a

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Simulators 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: 0.0934 sec (11 req/sec)