Colombo Dockyard Ltd, (CDL) has decided to suspend an order to build a ship. The company has also decided to lower their prices when accepting future orders to build ships.
CDL in a statement said that after talks with clients, they agreed to cancel one contract for a new ship "which was at the initial stage of planning and to continue with the balance three contracts at a discounted price." These three ships will be constructed and delivered to the customers during 2016 and 2017. The new ships were to be delivered during 2016 and 2017 for use in the offshore oil drilling industry which is suffering to the lower oil prices. The company majority owned by Onomichi Dockyard of Japan, posted a loss of a billion rupees in December 2015. CDL had made 174 million rupees in net profit in December 2014 quarter.
Meanwhile Colombo Stock Exchange which transferred CDL to the default board has now being out of the default board.
CDL in a statement said that after talks with clients, they agreed to cancel one contract for a new ship "which was at the initial stage of planning and to continue with the balance three contracts at a discounted price." These three ships will be constructed and delivered to the customers during 2016 and 2017. The new ships were to be delivered during 2016 and 2017 for use in the offshore oil drilling industry which is suffering to the lower oil prices. The company majority owned by Onomichi Dockyard of Japan, posted a loss of a billion rupees in December 2015. CDL had made 174 million rupees in net profit in December 2014 quarter.
Meanwhile Colombo Stock Exchange which transferred CDL to the default board has now being out of the default board.
www.dailynews.lk
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