Mitsui Targets 64 Percent Profit Gain

Wednesday, April 16, 2008

Mitsui Engineering & Shipbuilding Co., 's second-largest shipbuilder by sales, forecast profit will rise 64 percent in three years, aided by record demand. The shares gained the most in two weeks, Bloomberg reported.
Operating profit may reach $534min the year through March 2011, from 33 billion yen estimated for the year just ended, the Tokyo-based company said today in a statement. Sales are forecast to rise 27 percent to 800 billion yen in three years. No net income targets were given.
Mitsui Engineering, with a three-year order backlog, said today it will accelerate spending to expand production capacity. The company is counting on rising sales of its vessels to counter higher steel costs and a stronger yen that would erode the value of overseas earnings.
Mitsui Engineering based the currency exchange rate of 105 yen to the dollar for the three-year plan. The yen recently traded at 101.34 yen to the dollar in .

The Japanese company will spend 53 billion yen on capital expenditure over the three years ending March 31, 2011, 37 percent higher than in the previous three years. Research and development costs will increase 68 percent to 21 billion yen, mostly for new businesses.
Mitsui Engineering, Mitsui & Co., Inpex Holdings Inc. and six other partners, are studying the feasibility of turning natural gas into frozen pellets, making the fuel easier to ship.
Source:  Bloomberg

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

Shipbuilding

Imabari to Build 20,000TEU Containerships

Imabari Shipbuilding Co., Ltd. announced it has secured newbuild orders with the cooperation of Marubeni Corporation for 11 units of 20,000TEU Ultra-Large Container Carriers,

SSI Launches ShipConstructor 2015 R2.1

SSI has today released ShipConstructor 2015 R2.1 software.   The software release comes in response to emerging ship design, engineering and building trends as

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair 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: 0.6820 sec (1 req/sec)