Marine link
 

2012 Results

Ulstein Reports Improved 2013 Results

Gunvor Ulstein (photo courtesy the Ulstein Group)

Ulstein Group reported it delivered a good result for 2013 with an operating income of NOK 2.3 billion compared to 2012’s result of NOK 2.27 billion. Similarly, Ulstein’s operating profits improved in 2013 to NOK 317.8 million from NOK 228 million in 2012. The group’s operating result before tax was NOK 360.8 million, compared to NOK 211.4 million in 2012. Ulstein said it currently has more than 40 vessels in order, of which six to be built at its own yard, while the rest are being built at several shipyards worldwide. At the end of 2013, Ulstein Group had an order reserve of NOK 2.6 billion. “We have worked long-term and strategically to get where we are today,” said CEO of Ulstein Group, Gunvor Ulstein. “Selling design and equipment packages worldwide gives good ripple effects back into the maritime cluster. High competence, extensive experience and focus on project management make deliveries of ships to agreed price, quality and time possible.” Ulstein also delivered the IMR vessel Seven Viking in 2013, a vessel Ulstein calls a next generation offshore construction vessel built for operations in the harshest environments has set a new standard in the North Sea. Additionally, Ulstein delivered three platform supply vessels of PX121 type design from our own yard last year. Nordic American Offshore bought the three PSVs and additional four PX121 vessels.


Hempel Releases Annual Report 2012

Photo: Hempel

Hempel Group reported that its revenues grew by 15% in 2012, despite facing a challenging world market, and the Group is still on track to achieve its long-term goals. The Hempel Group delivered an all-time high revenue of EUR 1,242 million in 2012. EBITDA reached a record high of EUR 126 million, an increase of 21 million compared to 2011. Net profit remained level with2011 at EUR 35 million. Pierre-Yves Jullien, Group President and CEO of Hempel A/S, commented


Kværner ASA : Q4 & Preliminary 2012 Results

Kværner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million, resulting in an EBITDA margin of 4.1 percent. The order backlog amounted to NOK 21 262 million.   "The record high order backlog provides a good foundation for the activity level over the next years. Furthermore, it provides us with a strong basis to optimise our execution and improve our


Intelsat Reports Second Quarter 2012 Results

Satellite investment program progresses with three launches planned for third quarter; Intelsat EpicNG high performance satellite platform establishes leadership with long-term commitments.    Intelsat S.A., the world's leading provider of satellite services, reported financial results for the three months ended June 30, 2012. Intelsat S.A. reported revenue of $638.7 million and a net loss of $84.0 million for the three months ended June 30, 2012


LNG Carrier Owners GasLog Report Q2 2012 Results

GasLog Ltd., owner, operator & manager of liquefied natural gas (“LNG”) carriers, reports financial results for second quarter 2012. GasLog’s fleet consists of 10 wholly-owned LNG carriers, including two ships delivered in 2010 and eight LNG carriers on order. In addition, GasLog currently has 12 LNG carriers operating under its technical management for third parties. Highlights of the report: • Continued strong fundamentals for the LNG industry.


Diana Containerships Post Q4 2013 Loss But Pays Dividend

Image courtesy of Diana Containerships

Greece-based container ship owners, Diana Containerships Inc. in financial results for the Fourth Quarter and Year Ended December 31, 2013 report a net loss of $19.8 million for the fourth quarter of 2013, compared to net income of $0.3 million for the respective period of 2012. The Company explains that the loss for the fourth quarter was mainly the result of $9.7 million of impairment charges for the vessel Sardonyx


Boskalis H1 2013 Results Pointing to Record Profit

Boskalis Logo

In their half year 2013 report the Boskalis Board of Management expects that, barring unforeseen circumstances, net profit for the 2013 financial year will be at least EUR 330 million, including the book gain of approximately EUR 50 million on the sale of the 40% stake in Archirodon that will be accounted for in the second half of the year. HIGHLIGHTS OF FIRST HALF 2013     •    Revenue rises to record level of EUR 1.6 billion


Matson Ratchets Up Q2 2013 Profit

Matson logo

Matson, Inc. a leading U.S. carrier in the Pacific, report net income of $20.1 million, or $0.47 per diluted share for the quarter ended June 30, 2013. Net income for the quarter ended June 30, 2012 was $7.8 million, or $0.18 per diluted share. Consolidated revenue for the second quarter 2013 was $416.6 million compared with $394.2 million reported for the second quarter 2012. Matt Cox, Matson's President and Chief Executive Officer commented, "We had another solid quarter


Trico Marine Completes Exchange Offer

Trico Marine Services, Inc. announced that as of 5:00 p.m., New York City time on September 26, 2002, its offer to exchange up to $250 million principal amount of its registered 8 7/8% Senior Notes due 2012 for any and all outstanding unregistered 8 7/8% Senior Notes due 2012 expired and that all of its unregistered 8 7/8% Senior Notes due 2012 were tendered in the exchange offer and accepted


Ship Agents, Sino-Global, Cut Losses in Fiscal 2013

Sino-Global Shipping America, Ltd. (Nasdaq: SINO), an international provider of shipping agency services, today announced its selected financial results for fiscal year ended June 30, 2013. Highlights Revenues decreased by 48.85% to US$17.3 million, from US$33.9 million in the fiscal year ended June 30, 2012. Gross margin increased to 11.13% in the current fiscal year compared to 7.96% in the prior fiscal year.


MOL Group Posts Almost USD 1 Billion Profit in 2016

INA Offshore platform. Photo: MOL Group

 MOL Group significantly outperformed its initial USD 2bn target for 2016 and delivered a clean  EBITDA of USD 2.15bn, which is only moderately down compared with the previous year.  Upstream has shown great resilience to the deteriorating external environment


Company to Pay $9.5 Mln for Actions Leading to US Gulf Explosion

Wood Group PSN Inc., a Nevada corporation headquartered in Houston, was ordered to pay $9.5 million in two separate cases involving its conduct in the Gulf of Mexico. Specifically, Wood Group PSN was ordered to pay $7 million for falsely reporting over several years that personnel had performed


TGS, Schlumberger reimaging central GOM

New M-WAZ Multiclient Reimaging Program in Central U.S. Gulf of Mexico

TGS-NOPEC Geophysical Company (TGS) and Schlumberger today announced a new multi- and wide-azimuth (M-WAZ) multiclient reimaging program in the highly prospective Central U.S. Gulf of Mexico. Final results are expected in early 2018, ahead of a period when substantial block turnover in the area is


Dry Bulk Back from the Brink

Photo: Dennis Schnell, Bulldog and Partners

While the tanker industry worries about OPEC reducing output and the container industry rushes to consolidate, dry bulk values have been quietly increasing. VesselsValue senior analyst William Bennett digs through the data to uncover the reasons why.  


Odfjell Returns to Profit

Photo: Odfjell SE

Odfjell SE today reported preliminary full year and Q4 2016 results, showing improvement in financial performance in 2016 in spite of challenging markets. Efficiency programs continue to increase competitiveness, and the balance sheet is substantially strengthened.


Prosafe Taps Andresen as CEO

Photo: © Prosafe

Semi-submersible accommodation vessels owner and operator Prosafe has made several changes to its management team.   Jesper Kragh Andresen was appointed as Chief Executive Officer (CEO), and Stig H. Christiansen as Deputy CEO and Chief Financial Officer (CFO) of Prosafe Management AS


Ro-ro Vessel Fires: Risks and Recommendations

Norman Atlantic (Photo: EMSA)

As vessel fires have become more prevalent in the car/ro-ro passenger segment, the International Union of Marine Insurance (IUMI) examines these occurrences as the group voices its concerns and puts forward recommendations to mitigate the risks.  


UK, Continental Ferries Carried 8.8 mln Cars in 2016

Photo: UK Chamber of Shipping

 The number of cars taken by ferry has increased from 8.6 million in 2015 to nearly 8.8 million in 2016, a 1.7% increase. This is the fourth successive year of growth according to the annual results of the ferry industry.   2016 Ferrystat figures released today by Discover Ferries


Caterpillar mulls Global Headquarters in Chicago

Image Caterpillar

Caterpillar Inc. announced today it will locate a limited group of senior executives and support functions in the Chicago area later this year and reaffirmed the ongoing importance of its presence in Peoria and Central Illinois. “Caterpillar’s Board of Directors has been discussing


DSME CEO Questioned over Accounting Fraud

Photo by DSME Co.,Ltd

 The chief executive of struggling Korean shipbuilder Daewoo was questioned by state prosecutors on Tuesday over allegations that the yard tried to cover a major deficit in 2015 by underreporting losses.   According to a report in Yonhap, Jung Sung-leep, 66


HMS Global Maritime Appoints Jaenichen as Chief Operating Officer

Paul “Chip” Jaenichen, Sr. (CREDIT: Marad)

HMS Global Maritime, owner and operator of the American Queen Steamboat Company as well as 85 other U.S. flagged vessels, welcomes former Maritime Administrator Paul “Chip” Jaenichen, Sr. of the U.S. Department of Transportation as the new Chief Operating Officer (COO).   


DP World Reaffirms Commitment to India's Growth

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem with the Honourable Prime Minister of India Shri. Narendra Modi at the 8th edition of the Vibrant Gujarat Global Summit held in Ahmedabad, India. Photo DP World

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem met with the Honourable Prime Minister of India Shri. Narendra Modi at the 8th edition of the Vibrant Gujarat Global Summit held in Ahmedabad, India.   Discussions highlighted the immense potential of India’s growing economy


Euronav Gets Credit Line of $ 410mln

Photo: Euronav NV

 Euronav NV announces has signed a new USD 410 million senior secured amortizing revolving credit facility.    The facility has been made available on 16 December 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital


Euronav Secures Loan for VLCC Refinancing

Photo courtesy Euronav NV

Tanker shipping company Euronav NV announced it has signed a new $410 million senior secured amortizing revolving credit facility. The facility has been made available on December 16, 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital


Arctic Discovery Shocks Scientists

Photo: Arctic Program

 A report from the Washington Post described how high Arctic temperatures had risen by about 36 degrees Fahrenheit last month, coinciding with record-low sea ice levels.   Scientists have just discovered something int he Arctic that could totally change how they see the drastically






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright