JES International marked a loss of CNY 168.5m ($27m) for the fourth quarter of 2012, while revenues plummeted by 70% year-on-year to CNY 295m.
The Chinese shipbuilder explained that defaulted contracts by shipowners who refuse to take delivery have caused unnecessary costs. Costs related to delays were reflected in a leap of 388% in “other operating expenses” to CNY 163.8m for the full year.
JES-affiliated Jiangsu Eastern Heavy Industry is said to have entered into litigation with two defaulted contracts after the unnamed owners based in China and Europe were unwilling to take delivery of the ships.
JES said it would “continue to complete the rest of all ongoing contracts, which were mostly secured during fiscal year 2009 and fiscal year 2010, in a satisfactory manner as possible.”
It added “Customers are less keen to take delivery of the vessels due to lack of chartering contracts and much lower resale values for their ordered vessels,” and “Hence, some of the customers became more demanding than ever on their ship inspection which inevitably resulted in delays of the delivery.”
The shipyard complained that as a result, “Delayed vessels occupied the yard’s resources and affected the delivery of next following vessels as well.” Also, they offered discount prices on some contracts.
发表于 2013-3-4 10:12
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