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

Shipbuilding

Carrier for Kansai Electric Power Named LNG FUKUROKUJU

Mitsui O.S.K. Lines, Ltd. today took part in a naming ceremony for the newbuilding liquefied natural gas carrier LNG FUKUROKUJU, which is co-owned by MOL and Kansai Electric Power Co.

AAM, UNH in Vessel Design, Construction Pact

All American Marine, Inc.(AAM) together with the University of New Hampshire (UNH) are pleased to announce a contract for the design and construction of a new aluminum catamaran research vessel.

Korean Shipyards in Troubled Water

Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg.

Finance

NewLead Holdings Announces Commercial Competency of MT Sofia

NewLead Holdings Ltd.announced today a review of the commercial competency of one of its bitumen tanker vessels, the MT Sofia since the vessel was delivered to NewLead's fleet.

Statoil 2Q 2015 Earnings Slip

Statoil delivered Adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported Net income in accordance with IFRS of NOK 10.

MOL's Barge Terminal in Bangkok

Mitsui O.S.K. Lines, Ltd. today announced the signing of a Joint Venture Agreement with SahaThai Terminal Co.,Ltd., a container terminal operation company in Thailand,

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar 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: 0.0981 sec (10 req/sec)