CSBC net profit plummets

Taiwan-based shipbuilding company, CSBC Corporation, posted a large net profit drop last year due to limited newbuilding orders.
Last year, net profit of the yard dropped to NT$706.64m (US$23.68m), down 59.4% compared to NT$1.74bn in 2011. Revenue was up slightly to NT$30.81bn in 2012, compared to NT$28.97bn in the previous year.
The company only received one newbuilding order consisting of two 35,000 dwt bulk carriers last year.
Local reports suggest some relief is coming CSBC’s way with a contract for up to eight 1,800 teu ships likely to be signed within the next month.
Source: Sino Ship News