Development in 2012

The total number of new registered vessel contracts decreased by 35% to 1,090 during 2012. While the traditional merchant segment continued to struggle with overcapacity, ordering was active in offshore, special vessels and in the LNG and LPG carrier markets. China and South Korea continued to be the dominant countries in shipbuilding. Wärtsilä's share of the medium-speed main engine market remained high at 47% (48% at the end of the previous quarter). The market share in low-speed engines remained stable at 18% (18). In the auxiliary engine market, Wärtsilä's share was 4% (5).

Ship Power orders increased by 45% to EUR 1,453 million during 2012. Wärtsilä received several significant offshore orders as well as many orders for dual-fuel engines, underlining the company's frontrunner position in gas applications. Supported by recent developments in environmental regulation, Wärtsilä also received strategically noteworthy orders for exhaust gas cleaning systems for SOx removal and the first ballast water management system orders. Net sales for Ship Power increased by 27% to EUR 1,301 million (1,022) during 2012, which represents 28% of Wärtsilä's total net sales.

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