The Singapore-listed Chinese yard, which today announced new offshore orders worth $270m, has seen its bottom line more than slashed in half following a decline in bulker shipbuilding.
Despite fears over the profitability of its offshore operations, Captain Wu Zi Heng, vice chairman and president said there will be no turning back from its drive into the arena.
“We will continue to gather expertise and capabilities to move up the value chain and reach out to a broader customer base, laying a firmer foundation for long-term sustainable growth in offshore and marine engineering operations,” he said today in the company’s second quarter results statement.
Numerous
