Finance
Daewoo profits fall
Daewoo Shipbuilding and Marine Engineering, the world’s third largest shipbuilder, released worse than expected first quarter results Tuesday. DSME said net profit increased 23% year-on-year to Won96bn ($77.2m) in the first quarter but operatin...
2009-05-13 07:09:29
USC gets controlling stake in Amur Shipbuilding
The United Shipbuilding Corporation will receive 59% - a controlling stake previously owned by a group of private shareholders - in the Amur Shipbuilding Plant, the Russian premier told a shipbuilding meeting Monday. Prime Minister Vladimir Putin sai...
2009-05-12 12:54:51
Samsung earnings drop in Q1
Samsung Heavy Industries, the world’s second largest shipbuilder, revealed lower than expected earnings on the announcement of its first quarter 2009 results. SHI said net earnings were down 12.1% year-on-year at Won102bn ($82.4m) compared with...
2009-05-12 07:46:11
Hapag-Lloyd suffers €222m loss
Germany’s largest container carrier Hapag-Lloyd suffered operating losses of €222m ($302.5m) during the first three months of the year, compared to a operating profit of €18.5m in the previous year. The carrier’s sales dropped by 22.9% to...
2009-05-12 07:22:44
Shipping needs more help
South Korea has come up with support plans for its shipbuilding and shipping industries lately but shipping players are requesting more financial aid. They say shipping industry, the front-line industry, should get financial aid first for shipbuil...
2009-05-12 06:25:49
Samsung Q1 operating profit down 30%
Samsung Heavy Industries posted operating profit of KRW 155.6bn ($125.5m) for the first quarter 2009, less than market consensus. On May 11th, the South Korean major shipbuilder announced its Q1 business results with revenue of KRW 2.7761trn ($2.2...
2009-05-11 17:19:06
No limit for ship fund
In South Korea, investment limit is set to be abolished for ship operating companies which utilize ship funds. Ministry of Land, Transport and Maritime Affairs (MLTM) said Monday that it will give notice of a revision in some of the ship investmen...
2009-05-11 12:03:22
Mitsui profits fall
Profit at Mitsui Engineering & Shipbuilding slumped by nearly a tenth in the past year. Its bottom line came in at JPY 7.13bn ($78.47m) as it failed to meet market expectations. The final figure was ahead of the JPY 7bn forecast by the company, bu...
2009-05-11 07:50:07
IHI into the red
Japanese shipbuilder IHI Corp has posted a hefty loss in the year to 31 March, but nowhere near as big as it first feared. The company said the deficit was JPY 7.4bn ($74.46m), compared to a profit of JPY 25.19bn in the previous year. Revenues wer...
2009-05-11 07:46:42
SembCorp Marine bullish as profits rise 32%
Singapore shipyard group SembCorp Marine remains confident about its business outlook despite the possibilities of delays and cancellations after it reported a 32% rise in net profits in the first quarter. SembCorp Marine reported that net profit ros...
2009-05-11 07:41:06
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