Schedule Delays and Cost Overruns Resulting from an Interruption in Aframax Tanker Construction
First written in FY2018-Q2. 5 of 9 entries say "Mitigated", first in FY2019-Q1. Latest entry: FY2021.
The whole theme swung hardest in 2024: 17 of 54 companies on the "Worse" side.
23 other companies' latest entry also says "Mitigated".
- FY2021MitigatedAnnual report
「We have decided to suspend the newbuild ship business of 佐世保重工業株式会社.」
The response to process disruptions and cost overruns associated with the gap in medium-sized oil tanker construction has moved to a stage focused on reducing risk by suspending 佐世保重工業's newbuild ship business and reallocating resources to its specialty vessel types and repair ships. - FY2020-Q1MitigatedAnnual report
「Construction of medium-sized oil tankers for European shipowners, which had caused the process disruptions at 佐世保重工業株式会社, has ended. Going forward, construction will focus primarily on medium-sized bulk carriers, the company's specialty vessel type.」
The company explains that construction of medium-sized oil tankers for European shipowners, which had caused the process disruptions, has ended and that future construction will shift primarily to medium-sized bulk carriers, its specialty vessel type. - FY2019WorsenedAnnual report
「At 佐世保重工業株式会社, repeated major rationalization measures in the past led to the departure of many experienced employees. In addition, the company was unable to meet European shipowners' requirements for high specifications and quality, while aging equipment caused process disruptions and delivery delays, resulting in lower revenue and deteriorating earnings.」
The impact of process disruptions and delivery delays involving medium-sized oil tankers and other vessels was reflected in lower full-year revenue and deteriorating earnings, and rebuilding the operating structure remains an ongoing issue. - FY2019-Q3MitigatedAnnual report
「The process disruptions arising from the construction of medium-sized oil tankers at 佐世保重工業株式会社 are subsiding through adjustments to the operating plan and support from the parent company, but we will continue to address them as the Group's top priority.」
The company explains that the process disruptions associated with medium-sized oil tanker construction are subsiding through adjustments to the operating plan and support from the parent company. However, measures remain ongoing. - FY2019-Q2MitigatedAnnual report
「The process disruptions arising from the construction of medium-sized oil tankers by 佐世保重工業株式会社 are subsiding through adjustments to the operating plan and support from the parent company, and we will continue to address them as the Group's top priority until they are fully resolved.」
The company explains that the process disruptions associated with medium-sized oil tanker construction are subsiding through adjustments to the operating plan and support from the parent company. However, measures toward full resolution are ongoing. - FY2019-Q1MitigatedAnnual report
「During the period, resolving the process disruptions at 佐世保重工業株式会社, one of the factors behind the substantial losses in the previous consolidated fiscal year, was addressed as the Group's top priority, and the disruptions are beginning to subside.」
The company explains that the process disruptions at 佐世保重工業 are beginning to subside following measures taken as the Group's top priority. - FY2018WorsenedAnnual report
「At 佐世保重工業株式会社 in particular, process disruptions and delivery delays occurred during the construction of medium-sized oil tankers ordered after several years without such projects, at a time when demand for its main product, medium-sized bulk carriers, was weak. This led to lower revenue and a substantial increase in costs.」
Process disruptions and delivery delays continued in the construction of medium-sized oil tankers, leading to lower revenue and a substantial increase in costs. 佐世保重工業 reported an operating loss of ¥11,846 million. - FY2018-Q3WorsenedAnnual report
「As demand for new medium-sized bulk carriers, its specialty, remained weak, 佐世保重工業株式会社, a consolidated subsidiary, resumed construction of medium-sized oil tankers after a long interval. Manufacturing costs increased more than expected due to process disruptions and higher construction costs, and the company recorded substantial losses, including an additional ¥3,938 million in provisions for losses on construction contracts year on year.」
Process disruptions, higher construction costs and manufacturing costs exceeding expectations continued in the construction of medium-sized oil tankers, and additional provisions for losses on construction contracts reached ¥3,938 million. - FY2018-Q2First statedAnnual report
「Partly because several years had passed since the previous construction projects, manufacturing costs increased more than expected due to increased labor hours and process delays, and additional provisions were recorded for losses on construction contracts, among other factors.」
The company states that the construction of Aframax tankers at 佐世保重工業 resulted in increased labor hours, process delays and manufacturing costs exceeding expectations after a gap of several years in construction.