Wärtsilä Marine Solutions Sees 12% Drop in Order Intake

first_imgzoom Order intake at Finnish engineering company Wärtsilä’s Marine Solutions sector reached EUR 407 million (USD 460.4m) for the quarter ended September 30, down 12% compared to EUR 463 million reported for the same period a year earlier.On the other hand, order intake for the recently acquired L-3 Marine Systems International (MSI) developed well, the company says.Within environmental solutions, orders included exhaust gas cleaning systems for three passenger vessels, as well as ballast water management systems for eleven container vessels.In the gas carrier segment, orders included two contracts to supply regasification modules to be installed on FSRU vessels owned by Höegh LNG from Norway.Gas carriers represented 37% of the third quarter order intake, while the conventional merchant segment accounted for 21%.The cruise and ferry segment’s share was 16%, special vessels represented 9% of the order intake, navy 6% and offshore 5%. Other orders accounted for 7% of the total.The overall outlook for the shipping and shipbuilding markets remains challenging, Wärtsilä says, as overcapacity continues to affect demand.Gas carrier contracting is expected to remain on a normalised level, and the outlook for the cruise segment remains positive thanks to an anticipated increase in Asian passenger traffic.The outlook for ferries is supported by signs of economic recovery in the USA and Europe. The importance of fuel efficiency and environmental regulations are clearly visible, the company says, as the regulatory environment is driving interest in gas as a marine fuel in the wider marine markets.Wärtsilä’s third quarter order intake totalled EUR 1.086 billion, a decrease of 17% compared to EUR 1.309 billion from the corresponding period a year earlier.The company recorded EUR 132 million profit before taxes, compared to EUR 129 million reported in 3Q2014.Looking ahead, Wärtsilä expects its net sales for 2015 to grow by 5-10% and its operational profitability (EBIT% before non-recurring items) to be 12-12.5%.This guidance includes the impact of the MSI acquisition. MSI is expected to contribute approximately EUR 250 million to net sales and EUR 9 million to the operating result during 2015. Excluding purchase price allocation amortisation, MSI’s operating result is estimated to reach EUR 16 million.last_img read more

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Jonathan King used fame to lure young boys into Daimler before sexually

He would flatter them and pretend that they could help him with research or promotionRosina Cottage QC, prosecuting Dressed in a dark suit, white shirt, blue tie and colourful trainers, he appeared in court under his real name, Kenneth George King.Wearing round glasses and a bum bag, he sat expressionless in the dock as the case against him was opened on Wednesday afternoon.A jury of five men and seven women was told King denies he would ever have sex with anyone under age or force himself on someone without consent.But the prosecutor said his denials are “hollow” and told jurors he was convicted in 2001 of sexual offences against five teenage boys in the 1980s. Jurors were warned they would see pictures of a blow-up doll as well of images of naked girls during the trial.The prosecutor explained: “The reason that you have them at all is because the individual boys, at the time, said they were shown photos… of naked girls to try to encourage them to believe they were going to have sex with those girls.”The trial, which could last until August 3, continues. King, of Bayswater, central London, is standing trial at Southwark Crown Court where he denies 24 serious sexual assault charges against boys aged between 14 and 16, alleged to have taken place between 1970 and 1988. The ex-music mogul arrives at Southwark Crown Court on Wednesday Ex-DJ Jonathan King arrives at Southwark Crown Court in London Referring to the current allegations, she added: “He claims not to know or remember most of the boys, despite their photographs or letters or addresses and details still being in his home up to 30 years later, like trophies kept for his own private perusal.”The court heard King would target straight, immature boys, securing sex by showering them with gifts of records, concert tickets, meals and alcohol, as well as paying insincere compliments and making false promises.Ms Cottage said: “This case concerns sexual assaults by this defendant upon 11 teenage boys in the 1970s and 1980s.”The defendant used his position in the music industry and his fame to lure boys into his Daimler or Rolls-Royce, where he would flatter them and pretend that they could help him with research or promotion. The ex-music mogul arrives at Southwark Crown Court on WednesdayCredit:Rick Findler /PA Jonathan King wore a dark suit, colourful and a bum bag in courtCredit:Rick Findler /PA “He would then drive them to his home where he would give them alcohol and promise them sex with teenage girls and show them pornography.” Jonathan King, the former music mogul, used his fame to sexually assault teenage boys after showering them with gifts or promising sex with girls their own age, a court has heard.The convicted sex offender, 73, allegedly exploited his position in the record industry to carry out attacks on 11 teenagers as young as 14 in the 1970s and 1980s.King, an ex-pop star and producer for acts including Genesis, is said to have lured youngsters into his Daimler or Rolls-Royce cars before driving them home, where they were plied with alcohol.He also gave them presents, including records and concert tickets, showed them pornography and made false promises of sex with teenage girls, said prosecutor Rosina Cottage QC.”When they were in his power and in no position to repel his advances he would assault them,” she said. “It appears that it was a game of manipulation and power over boys aged about 13 to 16,” she said. “He would play the same routine again and again, honed for success.” Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. read more

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