Ship-Building Slump Starting to Turn Around, Cargotec's CEO Says
- Increasing orders at MacGregor are early sign of improvement
- Ship-building industry and MacGregor unit have reached bottom
This article is for subscribers only.
Cargotec Oyj says the ship-building crisis that prompted a slump in its order book over the past few years is showing early signs of a turnaround.
Mika Vehvilainen, chief executive officer of the Finnish provider of cargo-handling services, says the company has started to see “the bottoming out of ship orders overall” through the performance of its MacGregor marine equipment unit. The division reported a sequential increase in orders in the first and second quarters of this year, the first time that has happened since the end of 2014.