Wartsila shares hit seven-year low after warning of tough 2020

The downbeat statement came only weeks after Wartsila on Sept. 18 issued a profit warning on a weaker-than-expected order intake, saying its comparable operating profit would fall by 100 million euros ($111 million) from the year before.

CANS data showed that around 75% of workers had come back to work at key shipbuilding companies in the southeastern provinces of Fujian and Liaoning, but only around 62.5% workers had returned to Shanghai as of Monday.

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Shares in the engineering group plummeted to their lowest level in seven years.

“We are going to have, for the next year, a very challenging year,” Chief Executive Jaakko Eskola told a conference call.

‘Metal is, of course, more hard-wearing than sort furnishings but it does require upkeep to stop rust, otherwise, it can become hard to maintain the quality of the product over time and can fall into disrepair.

“Over 70% of vessels currently undergoing scrubber retrofitting are doing so in China. On that front, there are on-going delays at shipyards because workforces are depleted, taking vessels out of action,” Charles Chasty, research analyst with broker Affinity Shipping, said.

Jan 30 (Reuters) – The capesize component of the Baltic sea freight index plunged to an all-time low on Thursday, hurt by high fuel costs owed to new shipping regulations and a seasonal slowdown worsened by a coronavirus outbreak.

“If the downward trend of (energy equipment orders) continues and they keep being postponed, then we will be in a challenging situation,” Eskola told Reuters, attributing the decline to the transition to cleaner energy as well as to political and financial uncertainty in developing markets.

* “Ships with a scrubber are capable of running an almost profitable freight rate, but since the Baltic considers only ships without a scrubber, high fuel costs are really bringing down index readings and time charter equivalent earnings,” said Peter Sand, chief shipping analyst at BIMCO.

Interviews with key players in the industry show varying levels of alarm at potential risks, which they say range from unexpected fires or collisions due to engine failure to liability for inadvertently flouting the rules.

* Foreign evacuees from the Chinese city of Wuhan entered quarantine on Thursday, as deaths from a fast-spreading virus rose to 170 and markets weighed the impact of an inevitable big hit to the world’s No.

Got an egg chair? Lucky you! These have been the talk of the town in outdoor living, but now it means ensuring paint colours don’t flake, rattan materials stay bright and cushions look fresh whilst out in the sunshine. 

China’s Jiangsu New Times Shipbuilding, which has an annual production capacity of 5 million deadweight tonnes (DWT), had issued a force majeure notice on two vessels to Bermuda-based cargo operator 2020 Bulkers, a spokesman said.

Around 172 ships have avoided the problem because they are powered by sulphur-free liquefied natural gas (LNG), data from Norwegian risk management and certification company DNV GL showed, but this in an expensive option.

‘The best body scrub amazon canada way to remove rust If you have already spotted it on your furniture is simple.

Simply pour white vinegar evenly over the surface of the furniture and give it some time to settle. An hour should be enough.

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HELSINKI, Oct 25 (Reuters) – Finland’s Wartsila warned on Friday of a tough outlook for 2020 due to weaker demand for its ship technology and power plants and took a surprise multi-million euros charge on project cost overruns.

For keeping soft furnishings material vibrant, Ryan Schwarze, Head of Luxury Rattan suggests: ‘We would suggest removing cushions from furnishings when they are not being used but will be out in the sun all day, for example, if you are away on holiday.

Neither option has been fully tested for long, and some problems have already been reported, both with the more expensive new fuels and with devices known as scrubbers which extract the sulphur on board.

Khalid Hashim, managing director of one of Thailand´s largest dry cargo ship owners, Precious Shipping, said it had not allowed co-mingling of marine fuel, also known as bunker fuel, for over five years and required all of it to be sample tested.

“Of course this costs us annually around $100,000, but we prefer that cost than to use untested bunker oil based solely on the Bunker Delivery Receipt and find that we have a massive problem on our ship,” he said.

Harris from Marsh, a broker active in marine insurance including hull and machinery, said assessing cover was still guesswork: for instance, who should pay a fine for a ship using high-sulphur fuel because no alternative was available?

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