MHI Reports First Ever Loss

Thursday, May 25, 2000
Japan's Mitsubishi Heavy Industries Ltd. reported its first-ever loss, primarily because it had to redo some construction work on overseas plants. The first-time fall into the red comes as Japan's traditional industries continue to suffer from the nation's prolonged economic slump as corporations have only recently signaled they plan to raise investment in infrastructure. Slack shipbuilding sales and a price decline in machinery pushed sales down to 2.88 trillion yen from 2.91 trillion yen. The largest maker of heavy machinery in Japan posted a consolidated net loss of 137 billion yen ($1.27 billion) for the year ended March 31, against an 18 billion yen profit the previous year.

Maritime Today


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

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

Shipbuilding

Englishman: 11th Humber Tug Bears the Name

Humber tugboat operator SMS Towage has drawn on an old name for the latest addition to its fleet. The new Englishman is the 11th Humber tug to bear the title, in

Fincantieri Orders Heat Power Systems for Cruise Newbuilds

Italian shipbuilding group Fincantieri has selected Climeon’s heat power system Climeon Ocean for its energy efficient solutions, purchasing six Climeon Ocean 450M

Langh Tech Scrubbers for Norwegian Cruise Line Newbuilds

Finnish manufacturer and supplier of scrubber solutions Langh Tech will deliver scrubber systems to two new cruise vessels on order at Meyer Werft in Papenburg for (NCL).

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Simulators Sonar
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: 0.0683 sec (15 req/sec)