Hyundai gets first ship order in 2016, laments $1.13 billion loss in 2015
Maersk Line ship
SOUTH Korea’s shipbuilding giant, Hyundai Heavy Industries (HHI) has signed an agreement to build two 158,000 Suezmax crude tankers for a Turkey-based shipping company, Ditas Shipping.
The deal, worth between $120 to 140 million, will see HHI deliver the vessels to their owner in 2018, Yonhap news agency reported.
After HHI failed to win any orders in January, this deal marks the first one this year.
The order comes as the shipbuilding industry reported a slow start of 2016. Namely, the South Korea’s three major shipbuilders reported a drop in earnings, due to a protracted decrease in oil prices and increased costs.
HHI recently reported a net loss of $ 1.13 billion for 2015, a 38.2 per cent drop from a year earlier when it posted a $1.84 billion loss.
HHI’s sales were down by 12.1 per cent compared to a year earlier, while operating loss decreased by 52.6% year-on-year.
Maritime News quoted HHI as saying: “2015 was a tough year for us due to unfavorable market conditions such as prolonged low oil prices and global economic downturn.”
Meanwhile, Shipping has not been especially good at asking the users of its assets – the seafarers – how to improve designs.
Speaking at the International e-Navigation Underway Conference, David Patraiko, director of projects for the Nautical Institute, and Richard Doherty, chief technical officer for CIRM, announced the development of the CIRM User Feedback Forum.
Patraiko said: “As a design concept goes, this all makes perfect sense,” adding “Many mariners are keen to offer feedback into the design process but struggle to identify how to.”
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Hebron Garden Estate
Hebron garden estate is owned by Sterling homes Ltd and it’s
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Gibeon Park is located at gberigbe area of Ikorodu Lagos.
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The estate is fence and gated in a serene environment. Its
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For Full Plot (648sqm),
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Office address: STERLING HOMES LTD; Plot 2, River Valley
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Mobile: 07084546154, 08136119495.
Sterling Homes ltd selling Plots and Acres of Land at Havilah
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This estate is more than 120 acres, located at Mowe, close
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We will review and take appropriate action.