Finance
DSME’s dazzling business showings to be continued
Daewoo Shipbuilding & Marine Engineering (DSME) of South Korea, which joined the ‘KRW 11trn Revenue & KRW 1trn Operating Profit’ club for the first time in 2008, is expected to continue the ‘remarkable growth’ in 2009. Mirae Asset Securiti...
2009-02-04 06:24:09
IHI into the red
Japanese shipbuilder IHI Corp has plunged into the red in the first three quarters of its financial year. It said net losses totaled JPY 24.55bn ($276.18m) to 31 December as the yen strengthened against the dollar, compared to a profit of JPY 11.22bn...
2009-02-03 07:47:02
Costs up but profits up too: Bharati
Soaring costs ate into a much-improved sales figure at India’s Bharati Shipyard in the third quarter. The Mumbai-listed shipbuilder did, however, manage to increase quarterly net profit by a fifth. The cost of materials ballooned in the three mo...
2009-02-03 07:42:44
Nordic Tankers 'bankrupt'
The board of directors and top management at Denmark’s Nordic Tankers have resigned, declaring the company ‘technically bankrupt’ ahead of a shareholder meeting that was aimed at ousting them. The Danish Commerce and Companies Agency had instru...
2009-02-03 07:27:41
Western India reports Q3 net loss
Western India Shipyard Ltd has announced the financial results for the quarter ended on 31-DEC-2008. The Net Sales was at Rs.1929.42 lacs ($3.9m, lac: 0.1m) for quarter ending on 31-DEC-2008 against Rs.1373.61 lacs for the quarter ending on 31-DEC-20...
2009-02-03 07:24:46
C& Heavy on the chopping block
Cash strapped S. Korean shipyard C& Heavy Industries is likely to be sold off to foreign investors. Its biggest creditor, Meritz Fire and Marine Insurance Co., is in talks with overseas investors to sell the shipbuilder. Two foreign funds have ex...
2009-02-03 07:19:10
Daewoo all time high: 11trn Revenue & 1trn Profit
South Korea’s Daewoo Shipbuilding & Marine Engineering has entered ‘KRW 10trn Sales & KRW 1trn Operating Profit Club’ last year, achieving the highest revenue and operating profit ever. In 2008, DSME attained revenue of KRW 11.0746trn (USD 7...
2009-02-02 11:42:43
Rowan cuts dividend and jackup newbuild program
In a US Securities and Exchange Commission (SEC) filing, Rowan Companies, Inc. disclosed that it is to eliminate its $0.10 per quarter Common Stock cash dividend. It is suspending further construction of the third of four 240C class jack-up rigs a...
2009-02-02 07:17:10
ABG Shipyard's net sales up 77.8%
ABG Shipyard Limited, India's largest shipbuilding company last Friday reported a 54.3 % in its EBIDTA to Rs. 124.7 crore ($25.4m) in the quarter ended December 31, 2008 as compared to Rs.80.8 crore during the same period last year. Net Sales in Q3FY...
2009-02-02 07:08:03
DryShips to suffer a loss of $14.1m in total on cancellation
DryShips will pay an additional $8m to escape the $61m bulker purchase and end a dispute with Fednav under an agreement announced Thursday. "In view of market conditions and following negotiations, the company and the seller have mutually agreed t...
2009-01-30 10:30:23
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