Wärtsilä hit by low ordering activity

Finnish supplier Wärtsilä saw its sales drop 11 percent in the third quarter. In the short term, the company expects to see improving demand in its maritime business.

Photo: Wärtsila/PR/Chris Salvo

Uncertainty remains significant, but Finnish supplier Wärtsilä still expects to see improvements soon, not least in its maritime business.

This comes after Wärtsilä most recently saw its combined top line drop 11 percent in the third quarter. Even though the order intake was stable in the period, the company has in 2020 also seen a decline here in the first nine months of the year. The combined order book has also gone down, by 12 percent.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

New Pacific Basin CEO presents strategy in first public appearance

Martin Fruergaard has presented his key strategy in his first public appearance as the new CEO of Hong Kong-based Pacific Basin. The dry bulk operator has posted unusually strong half-year results on the back of a market upturn that by all appearances has only just begun.

Finnlines sees gains despite Covid-19 restrictions

Ferry and RoRo operator Finnlines saw growth in several areas in the second quarter of the years although the Covid-19 continues to put pressure on the passenger business. Larger cargo volumes helped boost the revenue.

Further reading

Related articles

Trial banner

Latest news

See all jobs