World's No.3 Shipbuilder Profits Plummet

Fox Business News via Dow Jones Business Wire
Tuesday, January 29, 2013

Daewoo Shipbuilding & Marine Engineering (DSME) net profit fell 82% in 2012.

The loss is primarily attributed to the decision DSME made in 2009 to book orders for ships at lower rates to stay afloat in the aftermath of the financial crisis, reports Fox Business News.

In a further setback, the world's third-largest shipbuilder by sales also lowered its order target for 2013, faced by a supply glut in the shipping industry and a fragile global economy. For the year, Daewoo Shipbuilding has set an order target of $13 billion, down 9% from its actual achievement of $14.3 billion last year.

Source: Fox Business News via Dow Jones Business Wire

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


Russian Navy Trying Hard for Facelift

Official announcements related to naval shipbuilding give the appearance of a Russian Navy that is undergoing a rapid revival. However, the reality is that many

USNS Maury Completes Acceptance Trials

USNS Maury (T-AGS 66) completed Acceptance Trials, November 6, following a week of extensive ship tests and underway events, included testing of major propulsion,

MacGregor Wins Orders for Pusnes Deck Machinery

MacGregor, part of Cargotec, announced it has secured orders for a series of Pusnes deck machinery packages for several shipowners. The Pusnes equipment has been


Shipping to See Further Consolidation

The CMA CGM's move to buy Singapore’s Neptune Orient Lines (NOL), could lead to one of the biggest acquisitions in the shipping container industry in years.   If it goes through,

Idling Fleet Continues to Surge

Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

R-22 Phase-out Presents Dangers and Expense -WSS

The shipping industry is facing price, supply and safety risks in the run-up to the global ban on R-22 (chlorodifluoromethane or HCFC) refrigerant, warns Wilhelmsen Ships Service,

Maritime Security Maritime Standards Naval Architecture 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: 0.0625 sec (16 req/sec)