Chinese Shipbuilder Warns of Loss

Press Release
Wednesday, December 26, 2012

In accord with  Hong Stock Exchange rules China Rongsherg Rongsheng Heavy Industries Group announces an expected net loss for year ending 2012.

The Company believes that the net loss is primarily attributable to the decline in the shipbuilding market during the eleven months ended 30 November 2012, which led to the sharp decrease in the orders and prices of vessels compared with the same period last year.

Based on the unaudited consolidated management accounts of the Company and its subsidiaries (collectively the “Group”) for the eleven months ended 30 November 2012 and the preliminary estimation by the Company, the Group is expected to incur a net loss for the year ending 31 December 2012 as compared with the published net profit for the year ended 31 December 2011.

The information contained in this announcement is only based on the preliminary calculations by the Company’s management in accordance with the unaudited consolidated management accounts of the Group, and other information currently available to the Company which have not yet been confirmed or audited by the Company’s auditors.

Maritime Today

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

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


Damen Crane Barge and Anti-Pollution Barge Delivered

Damen Shipyards Sharjah has delivered two barges, a Crane Barge 4920 and an Anti-Pollution Barge 2405, to BINCO, a contractor in the Middle East with over 30 years

DNV GL Approval for DSIC's LNG-fuelled VLCC Design

DNV GL has presented Dalian Shipbuilding Industry Company Limited (DSIC) with an Approval in Principle (AiP) certificate for a new LNG-fuelled very large crude

USN Issues Full Funding for LCS "Cooperstown"

As part of the Littoral Combat Ship (LCS), the US Navy has awarded to the consortium which includes Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM),


France-Corsica Ferry Operator SNCM's Takeover Gets EU Clearance

The European Commission has approved the takeover of troubled France-Corsica ferry operator SNCM by Corsican entrepreneur Patrick Rocca, according to a letter seen by Reuters on Tuesday.

Norway's Offshore Shipping Sector Faces Bleak Year

Norwegian companies that provide supply ships and drilling rigs to the global oil industry face a bleak year ahead as contracts disappear and financing options

MacArtney, Moog Focal in Expansion Mode

Moog Focal Technologies Corporation and the MacArtney Group have agreed to intensify their multi-service partnership aiming at expanding their long-term business

Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.1593 sec (6 req/sec)