Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

RINA ‘outperformed market’ in 2017 thanks to passengership focus

ff8356084d2b4d6af14f38f6680b2812
Italian classification body RINA says that its classed fleet of vessels increased by 7% last year, outperforming the market average of 2.5%, and has now reached 40m gt.

That total includes an orderbook of 500 ships of over 4.5m gt – mainly in sectors where shipbuilding activity remains strong, such as cruiseships, passenger ferries and ro-ro, and yachting.

Overall, improved marine business drove a 3% growth in consolidated revenues to €437m in 2017.

Oil & gas business declined by 9%, reflecting reduced exploration & production activity on account of lower oil prices, but RINA says it has compensated by moving into new market niches and geographical areas less affected by the slowdown such as Malaysia, Mexico and Mozambique.

 newsletter

“Results were basically in line with the previous year, despite the continuing difficult situation of the oil & gas sector globally and the uncertainty caused by Brexit,” commented RINA chairman and ceo Ugo Salerno, who dubbed 2017 a “year of consolidation” for the group.