Guangzhou Shipyard outsources contracts | South China Morning Post
  • Fri
  • Jan 30, 2015
  • Updated: 5:03am

Guangzhou Shipyard outsources contracts

PUBLISHED : Wednesday, 21 November, 2007, 12:00am
UPDATED : Wednesday, 21 November, 2007, 12:00am
 

Guangzhou Shipyard International said yesterday it was exploring a new partnership model with its sister company to increase capacity.

Guangzhou Shipyard outsourced two contracts to Guangzhou Huangpu Shipyard, said company secretary Li Zhidong. However, the contractor is still in charge of designing the two 50,000 dwt semi-submersible vessels and managing the project, the most profitable aspect.

The market speculated that co-operation would continue, resulting in improved profitability.

'This is a trial run. We will adapt the model to other projects if it proves successful,' said Mr Li.

Guangzhou Shipyard's net profit soared more than 317 per cent to 215.8 million yuan in the third quarter from a year earlier.

Shares of Guangzhou Shipyard rose 7.81 per cent to HK$51.75 yesterday.

Share

For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive
 
 

 

 
 
 
 
 

Login

SCMP.com Account

or