| MHI books USD8.3 billion of orders in 2014 |
| Japan's Mitsubishi Heavy Industries (MHI) said on 8 May that its shipbuilding unit booked almost JPY1 trillion (USD8.3 billion) worth of orders for fiscal year 2014 (FY14), which ended on 31 March. This exceeded the JPY360.3 billion of orders booked in FY13. The surge was due to the higher number of orders for LNG and LPG carriers MHI received in 2014, as Japanese shipping companies fixed more LNG and LPG shipping contracts. MHI received 11 ship orders for FY14, compared with eight in FY13. Its backlog stood at 36 ships on 31 March. MHI's outstanding orderbook includes eight LNG carriers, seven LPG carriers, four ferries, and six patrol vessels. MHI, which also builds thermal power plants, as well as defence and naval systems, said that despite higher research and development expenses for its proprietary Mitsubishi Regional Jet aircraft, operating income for it's commercial aviation and transport systems totalled JPY296.1 billion in FY14, up from JPY206.1 billion for FY13, reflecting higher sales of aircraft and a weaker yen. |