22/10/2015at 09:15

Wärtsilä losing orders in slow shipping market

Orders to the Finnish manufacturer Wärtsilä fell in the third quarter due to a low newbuilding market and the pressured offshore market, says CEO Björn Rosengren, who will resign November 1. Overalll, he's positive about the rest of the year.

BY KATRINE GRØNVALD RAUN

Orders to Finnish engine producer Wärtsilä declined by 17 percent in the third quarter, show the quarterly results Thursday morning. Over the period, the supplier received orders amounting to USD 1.2 million, compared with USD 1.4 billion in the same period last year. The marine market is a major reason behind the lower figures, says CEO Björn Rosengren of the results.

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