Finance
HMD issues satisfactory Q1 results
South Korea’s Hyundai Mipo Dockyard has issued first-quarter results in line with market forecasts. HMD’s net profit fell 4.7% year-on-year to Won124bn ($92.5m). The shipyard’s operating profit fell more steeply to Won92bn, down 31.9% f...
2009-04-30 07:34:41
Rongsheng reconsiders IPO
Chinese shipbuilder Jiangsu Rongsheng Heavy Industries has reaffirmed plans for a stock market listing after delaying an initial public offering last year. The yard, based in Nantong, Jiangsu province, also confirmed it still has a $1.6bn order f...
2009-04-30 07:29:55
STX Pan Ocean issues $159m bond
South Korea’s leading bulk operator STX Pan Ocean said yesterday it will issue Won200bn ($149.2m) in corporate bonds on May 8. In a statement to the Seoul Stock Exchange, the company said the proceeds will be utilised to secure cash liquidity d...
2009-04-30 07:21:55
Japan's Big 3 operators' earnings plummet
Japan's big three operators, comprising Nippon Yusen Kaisha (NYK), Mitsui OSK Lines (MOL) and Kawasaki Kisen Kaisha (K Line), expect to sustain wide-margin reductions in revenues and profits due to the slump in the shipping market brought about by th...
2009-04-29 11:15:36
Japan’s Sanoyas to make losses
Japanese shipbuilder Sanoyas Hishino Meisho now expects to make a loss in the fiscal year just gone. It has forecast a loss of JPY620m ($6.45m) for the year ended 31 March 2009 against earlier forecasts of a JPY550m profit. The Tokyo-listed firm i...
2009-04-29 07:55:45
MHI into emergency as profits crash
Japanese conglomerate Mitsubishi Heavy Industries said on Tuesday that its profits from shipbuilding plummeted 60% in 2008, as it announced the launching of an emergency plan to tackle the ongoing subdued market. MHI said sales within its shipbuildin...
2009-04-29 07:35:23
Evergreen profits plummet
Evergreen Marine Corp suffered a huge drop in profits last year as freight rates declined. The listed arm of the Taiwanese group posted net income for 2008 of NT639m ($19m) compared with NT10.4bn a year earlier. Revenue declined from NT27.8bn to ...
2009-04-29 07:12:07
Financial crisis
South Korean shipbuilders are having new orders drought for over six months and fear is mounting that they would be short of working fund in the second half of this year. NH Investment & Securities analyst Ahn Ji-hyun said, “Major shipbuilders a...
2009-04-29 06:14:17
Creditors revaluate shipbuilders’ credit risk
In South Korea, creditor banks have embarked on reappraisal of 16 shipbuilders’ credit risks which had received A or B grade in the first round of restructuring. Some of the small and midsize shipbuilders which had managed to avoid restructuring...
2009-04-28 11:27:04
CSSC net profit dives 36%
Shipbuilder China CSSC Holdings felt the pinch of the global recession in the first quarter as net profit plummeted. The Shanghai-listed builder blamed the rising cost of steel for the 36% year-on-year fall. Despite the huge drop the division of s...
2009-04-28 07:37:14
Start  Prev  501  502  503  504  505  506  507  508  509  510  Next  End