LNG

Oct 22 (LNGJ) - Wartsila, the Finnish LNG and general shipping propulsion-maker, said third-quarter orders dropped 17 percent to 1.08 billion euros ($1.22Bln) from 1.20Bln euros in the same three months a year ago. Quarterly profit before taxes was 132 million euros compared with 129M in the 2014 quarter. Wartsila said the market for liquid and gas-fuelled power generation is affected by continuing economic uncertainty. Its earnings report stated: "The overall outlook for the shipping and shipbuilding markets remains challenging. Overcapacity continues to affect demand. Low oil prices are impacting investments in offshore exploration and development, resulting in weak contracting of offshore drilling units and support vessels. Gas carrier contracting is expected to remain on a normalised level."