Iranian Ship Linked to Houthi Attacks Heads Home Amid Tensions
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
The Singapore-listed firm plans to reduce its labour force this year to 18,000 from 20,000, Ren Yuanlin said at an earnings briefing on Wednesday. It has already reduced it workforce by 20 percent over the last two years.
Yangzijiang posted a 29 percent fall in 2016 net profit. Its order book stood at $4.3 billion at 2016-end with the company winning contracts worth $823 million last year.
The company is targeting orders worth $1.5 billion this year, Ren said.
The company, which has four shipyards in China’s Jiangsu province, builds a range of vessels including large container ships, bulk carriers and liquefied natural gas carriers.
Yangzijiang shares were last up 7.6 percent at S$0.995 on Wednesday, while the broader market was 0.6 percent higher. (Reporting by Aradhana Aravindan; Editing by Subhranshu Sahu)
(c) Copyright Thomson Reuters 2017.
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