MHI shipbuilding back in profitMHI shipbuilding back in profit

The Japanese giant's shipbuilding segment also saw a 69% increase in orders received to JPY109bn from JPY39.2bn in the first half of 2012. MHI attributed the increase to a jump in naval and wide-area seabed research vessels. The group looks set for a busy second half, with forecasts for the full year 2013 at JPY330bn in orders received, leaving JPY221bn to secure in the last six months of the year.

"We will focus on activities to receive orders for the engineering business and value-added vessels such as LNG carriers for which shipbuilding demand is rising by increasing use of natural gases," the company wrote in its earnings presentation.

The company's earnings continue to benefit from the depreciation of the yen, and the company forecasts JPY330bn in orders and JPY190bn in sales by the end of the year, with an operating income of JPY4bn.

MHI currently has an order backlog of 45 vessels, including 10 LNG carriers, eight ferries and ro-pax ships, seven patrol vessels, three seismic vessels, three container ships, three car carriers, three ro-ro vessels and two cruise ships.