Finance
Majors eye operating surpluses
Six major general heavy industry-affiliated shipyards project surpluses in fiscal 2009. It is projected that the sales of the builders in the entirety of the year will expand thanks to the rise in price level and increase in construction volume. ...
2009-05-15 07:42:50
NCL back to profit with cost reduction
Lower fuel and payroll costs enabled Norwegian Cruise Line (NCL) to return to the black in the first quarter. The US-based cruise operator, owned equally by Star Cruises and Apollo Management, reported a net profit of $5.2m for the three months, ...
2009-05-15 06:53:25
Daehan to finalize workout plan
Daehan Shipbuilding of South Korea has decided to accept its creditor group’s workout plan which requests reduction of capital and conversion of investment. Accordingly, the shipbuilder will be granted new fund of KRW 170bn ($134m), which would ...
2009-05-15 06:21:21
Davie Yards financial restructuring done
Canada’s Davie Yards has almost completed its financial restructuring by selling the remainder of its $20m share issue. The Quebec offshore vessel builder said it sold 80.56m shares at CAD 10 ($0.08) each to its customer Cecon of Norway. This...
2009-05-14 10:48:44
Hitachi Zosen into the black
Japanese shipbuilder Hitachi Zosen broke into the black for the year after posting a strong final quarter. The yard group has set itself on a much stronger bottom line for the current financial year although revenues are set to stagnate. The first...
2009-05-14 07:49:40
Naikai Zosen rises
Japanese yard group Naikai Zosen substantially increased profit last year but is staring at a shrinking bottom line in the current year. The shipbuilder expects to vastly increased revenues this year but both operating and net profit figures are f...
2009-05-14 07:47:00
35 investors vie for Polish yards
A total of 35 potential investors will bid next week for the assets of Polish shipyards Gdynia and Szczecin. Poland’s agency of industry development (ARP) said the Gdynia sale will take place on 13-14 May, while Szczecin will be sold on 15-16 Ma...
2009-05-14 07:40:27
Qatar investor eyes Gdynia shipyard
A Qatar investor wants to buy the historic Gdynia shipyard in Poland, whose strikes in the 1970s helped bring down communism in the country, it was reported on Tuesday. The investor, the Polska newspaper claimed, is thought to be Qatar Investment...
2009-05-14 07:16:53
Hyundai only bidder for Hyundai Corp
Hyundai Heavy Industries (HHI) is now the only bidder for the acquisition of Hyundai Corporation of South Korea. Other acquisition candidates BNG Steel, a subsidiary of Hyundai Kia Automotive Group, and Q Capital Partners, a restructuring speciali...
2009-05-14 06:22:54
Profits plummet at Maersk and NOL
Huge losses were reported by two of the world’s top container lines yesterday following the catastrophic collapse of freight rates in the early weeks of the year. Danish shipping and energy group AP Moller-Maersk posted its worst ever quarter, ...
2009-05-13 07:25:45
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