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Wärtsilä's maritime orderbook shrinks due to overcapacity

Order intake for Wärtsilä's maritime business declined 15 percent in the first quarter, and the Finnish company points to continued overcapacity in the market. But there could be improvements in store by the end of this year, notes the company.

Photo: PR-foto/Wärtsilä

Even though Wärtsilä noted an overall rising order intake in the first quarter of the year, the company's maritime business suffered a setback, and business conditions here are expected to be "soft" in 2017, informs the Finnish supplier in its first quarter interim report.

"Although the outlook for the cruise and ferry segment is positive, the merchant, gas carrier, and offshore segments continue to suffer from overcapacity, slow trade growth, and the financial constraints of customers," writes Wärtsilä in the report.

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