Rongsheng impresses with positive results
While most yards had to endure tough trading conditions last year, one private Chinese yard continued to impress in 2009. Jiangsu Rongsheng Heavy Industries saw operating income increase by more than 60 percent last year to RMB10bn ($1.5bn) as orders continued to flood in.
Aiming to deliver 30 ships this calendar year, Rongsheng is looking to double its operating income this year. The shipbuilder, founded in 2005, has an 80-ship backlog keeping it busy through to 2012. This year Rongsheng is aiming to break into the offshore.
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