Market outlook

Despite the uncertain market and macro-economic conditions, a resilient performance was achieved in 2011, as demand for our products and services gradually returns. New order intake during the year was strong, up 15 per cent to £2.1 billion, although the order book decreased largely due to the slower than expected conversion of OE bid activity to new orders.

2011 highlights

• Significant increase in new orders and continued growth in offshore oil and gas sector.
• First contract secured for award-winning NVC 405 Environship liquid natural gas-powered cargo vessels.
• Service centres in Europe, Africa and Asia opened or expanded.
• Customer training and simulator centres opened in Norway and Singapore.
• Tognum acquisition largely completed.
  

What next...

View our 2011 Annual Report