Finance
Abu Dhabi Shipbuilding profit plummets 62%
The Abu Dhabi Shipbuilding (ADSB) said its net profit tumbled by nearly 62 per cent in the first quarter of 2009 after netting record earnings through 2008 because of a surge in business. ADSB, one of the largest shipyards in the region, said net pro...
2009-05-06 11:47:16
Stocks rise: Government stimulus plans
In South Korea, shipbuilding stocks are showing an upward tendency after the government made public the restructuring and support scheme for the industry. On May 4th, shipbuilding stocks rose sharply on expectations that the downturn-hit industry ...
2009-05-06 06:28:09
DryShips sinks to losses
Huge contract termination fees have plunged George Economou’s DryShips into the red for the second consecutive quarter. Nasdaq-listed DryShips sank to a $101.8m loss in the three months to 31 March, to follow on from a massive $1.02bn reversal d...
2009-05-04 07:25:32
Samsung funding for new mega-yard
Samsung Heavy Industies is part of the Atlantico Sul (AS) consortium which last week received news it is to receive Reais 542m ($248m) from the Brazilian National Development Bank (BNDES) to build a new shipyard capable of constructing tankers up to ...
2009-05-04 06:56:44
Bharati expects subsidy of $22m in FY10
Bharati Shipyard has announced its fourth quarter numbers. Its net profit went up at Rs 35.4 crore (US$ 7.09 million) versus Rs 32.6 crore (US$ 6.52 million), YoY. The company's net sales came in at Rs 284 crore (US$ 56.89 million). Commenting on ...
2009-05-01 07:49:10
Hitachi Zosen raises earnings forecast
Japanese shipyard and construction group Hitachi Zosen has raised its annual profit forecast but remains on course for a big drop year-on-year. The co-owner of Universal Shipbuilding Corp said net earnings should be JPY 1.4bn ($14.32m) for the 12 ...
2009-05-01 07:41:37
HHI Q1 net profit rises 13%
Hyundai Heavy Industries, the world's largest shipbuilder, announced a 13% increase in net profit for the first quarter. The company unveiled a net profit of Won483bn ($382.9m) as the construction of high-priced ships near the top of the market b...
2009-05-01 07:12:33
Korea expands liquidity injection
Along with additional restructuring of nonviable shipyards, South Korean government will provide liquidity of KRW 9.5trn ($7.364bn) to blue-chip shipbuilders and their collaborative enterprises. On April 30th, the government confirmed the plan of inc...
2009-05-01 06:21:00
Wadan Yards Okean losses widen
Wadan Yards Okean in Ukraine has posted a bigger loss for 2008 as its revenues fell away. The Mykolaiv shipyard, formerly owned by Aker Yards but taken over by Russia’s FLC West in 2008, said it lost UAH 131.34m ($16.48m) last year. It ended 200...
2009-04-30 15:05:21
Bharati Shipyard profits rise
India’s Bharati Shipyard is still increasing profit as its orderbook grew in the year to 31 March. The Mumbai yard said net earnings reached INR 1.3bn ($25.9m), compared to INR 1.07bn in the same 12 months a year before. Revenues jumped to INR 9...
2009-04-30 14:59:49
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