Brighter Times News

For the second consecutive year, revenue and earnings remained stagnant for 2017 at VIKING Life-Saving Equipment A/S. Signs of a slight improvement in the economy are encouraging, as well as VIKING’s gain in market share. Two of the largest customer segments, the cargo ship market and offshore industry, remain in turmoil and continue to impact the top and bottom lines. "We find ourselves in a market with extremely complex demands that vary significantly between segments - a market driven by a multitude of factors, including technology, growth in the global economy, trade policy, geopolitical stabilty, among others. Overall, however, I believe we will benefit in the coming period from growth in the global economy.

For the second consecutive year, revenue and earnings remained stagnant for 2017 at Viking Life-Saving Equipment A/S. Two of the largest customer segments, the cargo ship market and offshore industry, remain in turmoil and continue to impact the top and bottom lines. Signs of a slight improvement in the economy are encouraging, as well as  Viking's gain in market share. “We find ourselves in a market with extremely complex demands that vary significantly between segments – a market driven by a multitude of factors, including technology, growth in the global economy, trade policy, geopolitical stability, among others. Overall, however, I believe we will benefit in the coming period from growth in the global economy.

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders. Hyundai Heavy said on Thursday it slumped to an operating loss of 1.93 trillion won ($1.83 billion) in the third quarter, from a 222.4 billion won profit a year earlier, as it soaked up rising costs caused by delays in building new types of ship in which it had little previous expertise.

to go up, an Inmarsat service provider has claimed. Asad Salameh, President of World‐Link Communications, said ship owners and managers are ready to be sold the real benefits that onboard broadband communications can bring such as improved fuel savings, lower maintenance costs and a happier and better connected shipboard crew complement. “For a market that is coming out of the freeze, concern remains about a slow recovery. More than ever before ship owners and managers have to be sold on the benefits of broad band, and new services being proposed as operational costs remain a major concern,” he said. The maritime communications sector…