Finance
Davie net deficit falls
Canadian shipbuilder Davie Yards has managed to cut first quarter losses despite shutting down the yard for more than a month. The Quebec facility laid off all 1,000 workers before Christmas to save money, gradually resuming operations from 22 Feb...
2009-05-19 07:58:23
Western India Shipyard cuts losses
Shiprepairer Western India Shipyard (WIS) has managed to reduce annual losses, but is still struggling with higher raw materials costs. The country’s biggest repair yard said net losses to 31 March were INR 214.4m ($4.47m), down from INR 287.2m ...
2009-05-19 07:36:34
C& Heavy acquisition under review
It has emerged that South Korea's KTB Securities Co., a major provider of financial services such as equity investments and purchase of bonds, is contemplating acquiring the embattled C& Heavy Industries (C&HI). South Korea's C&HI has been desper...
2009-05-19 07:34:09
STX issues KRW 300bn in bonds
South Korea’s STX Offshore & Shipbuilding said on Monday it plans to raise Won300bn ($238m) through a bond issue. In a filing to the Seoul stock exchange STX said the one-year bonds would be sold to the state-owned Korea development bank and th...
2009-05-19 07:27:18
Gdynia & Szczecin to be sold: UIT
The Polish government is awaiting the signature of a Caribbean registered company which has agreed to buy the assets of both Gdynia and Szczecin shipyards for about Zloty450m ($136m). United International Trust was the highest bidder from a group...
2009-05-19 06:55:59
Majors post improved results from Q2
South Korean major shipbuilders posted greatly increased revenues for the first quarter 2009 but their operating profits tumbled. Sales rose due to increased output and high won-dollar exchange rates but profitability slumped as shipbuilding costs...
2009-05-19 06:21:40
Sanoyas net deficit at $3m
Japanese shipyard Sanoyas Hishino Meisho has fallen to an annual loss but is predicting a recovery in its current year. The shipbuilder said the net deficit in the year to 31 March was JPY 286m (about $3m), compared to a profit of JPY 892m in the ...
2009-05-18 13:20:39
Namura net profit down 49%
Costs hit Namura Shipbuilding as annual profit dived despite a strong growth in sales. The Japanese yard group has, however, set its eye on a healthier bottom line in the current financial year, albeit still well short of that see in the year to t...
2009-05-18 07:54:08
Sasebo annual profit up
Sasebo Heavy Industries has posted a rise in annual profit but is braced for a weaker year ahead. The Japanese shipbuilder saw annual revenues climb considerably but come in just below expectations. The net profit for the year was, however, almost...
2009-05-18 07:52:12
Hanjin-STX issue contrasting results
Hanjin Heavy Industries & Construction, South Korea’s sixth largest shipbuilder, and STX Offshore & Shipbuilding announced markedly contrasting first quarter results last Friday. HHIC said net income from January to March was Won104.1bn ($83m),...
2009-05-18 07:26:33
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