Tuesday, November 6, 2012

[Ship Building] Sumitomo Pens 'Zero'

Sumitomo Pens 'Zero'

Japan's Sumitomo Heavy Industries prospected that its Ship & Marine division, which includes ship building and ship repairing, will record JPY 1bn ($12.46m) of operating loss, during April-September of this year.

Sumitomo had forecasted JPY 2bn of loss earlier, but it explained that ship
From April to September, Sumitomo's turnover, on consolidated basis, declined by 28% year-on-year to JPY 22.3bn.

The shipbuilder delivered overall two newbuildings, which fell by two vessels comparing with the same period of last year. On the other hand, orders for ship repair rose.

Sumitomo saw JPY 2.8bn of operating profit, during the same period, which plunged by 52% year-on-year.

The Japanese shipyard contracted a total of JPY 4.9bn, up by 25% year-on-year, but inked no newbuilding order.

As of the end of September, it secured on four orders, JPY 29bn, on the book.

Published : November 5, 2012

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