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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


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.


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


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


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


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


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


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.


Panamax Containerships: Is the Battle Now Lost?

Graph: Clarksons Research

 In the containership market today, Panamax sector, the charter rates rest at rock-bottom rates and the fleet is in steady and perhaps terminal decline, with scrapping at record levels. Is the battle now lost? A report by Clarksons Research.  


NYK-TDG Maritime Academy Graduates Its Class of 2016

Photo: NYK Line

 The NYK-TDG Maritime Academy (NTMA), which is located in the suburbs of Manila and jointly run by NYK and the Transnational Diversified Group (TDG), proudly graduated the 117 students comprising the academy’s Class of 2016.  


FORAN Design Wins Korean Universities' First Prize

FORAN Design Awarded First Prize in Korean Universities Contest Photo FORAN

Hae-Jun Ji and his team of other sophomores and juniors at the Naval Architecture and Ocean Systems Engineering department of the Busan-based Korea Maritime and Ocean University (KMOU) won the first prize in the 25th National Ship Design Contest for University Students organized by the Society of


Neptune Lines Savings with Hempaguard

Photo: Hempel

 Neptune Lines reduces fuel consumption and emissions with Hempaguard. Finished vehicle transportation company Neptune Lines has a reputation for fast and on-time deliveries.    Keeping to schedule means the company’s fleet of Pure Car & Truck Carriers (PCTCs) must


Kiel Port Marks 2,500th Cruise Ship Visit

Port of Kiel marks 2500th cruise ship visit

Kiel is today (Saturday, 13th Aug.) celebrating the arrival of its 2,500th cruise ship visitor Cunard Line’s “Queen Elizabeth”, which berthed this morning to mark the event. The President of the City of Kiel, Hans-Werner Tovar paid tribute to the occasion during a reception at


Wave goodbye to $50 bln - Drewry

Figure 1 Estimated industry revenue, 2008-16F (USD billion) Note Preliminary forecast based on smaller 1H16 sample

Container industry revenues are contracting faster than carriers can cut costs. First-half results so far suggest sales are down by around 18%, increasing the pressure to reduce costs. The container shipping industry is currently enduring a severe revenue contraction that is placing carriers


US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper


What is Happening to Suezmax Rates in 2016?

Graphs: Poten & Partners

 Several years ago, the main market for Suezmax tankers was the West Africa to North America trade. When this market dried up in the period from 2012 to 2014/15, it looked like the Suezmax fleet was in for hard times. Tanker Research & Consulting department at Poten & Partners takes a


Arctic Sea Ice Melt Continues

Average sea surface temperature measured by satellites using thermal emission sensors, which produce global data adjusted after comparison with ship and buoy data, and sea ice concentration derived from NSIDC near-real-time data for August 7, 2016. Also shown are drifting buoy temperatures at the ocean surface (colored circles); gray circles indicate that temperature data from the buoys are not available. (Credit: M. Steele, Polar Science Center/University of Washington)

As of August 14, Arctic sea ice extent is tracking third lowest in the satellite record, according to the National Snow & Ice Data Center (NSIDC). The southern route through the Northwest Passage appears to be largely free of ice. Despite a rather diffuse ice cover in the Chukchi Sea


The Price Ratio Between Newbuild and Secondhand

Graph: Clarksons Research

 Looking at the ratio between newbuild and secondhand prices is a classic method of examining the state of various shipping sectors, says Clarksons Research.   But the metrics can be just as revealing at the older end of the market


Sirius Orders Two Oil/Chemical Tankers

Photo courtesy of Sirius

Sirius Shipping AB has ordered two oil/chemical tankers with the latest technology and in compliance with future rules and regulations, such as Tier III, at Avic Dingheng shipyard.   This is the 5th project that FKAB signes in less than a year, on a tanker project


Wärtsilä Designed AHTS Delivered to COSL

Another two Wärtsilä designed AHTS vessels are to be delivered to COSL this year. Photo Wärtsilä

Two new Wärtsilä designed Anchor Handling Tug Supply (AHTS) vessels were delivered from the Wuchang Shipbuilding Industry Group yard in China during the second week of September. The ships have been built for China Oilfield Services Ltd (COSL)


Oldendorff Acquires 8 Vessels

Babycape Photo Oldendorff

Oldendorff reported that it is continuing its fleet expansion and have acquired eight more vessels, including three Babycapes and five Post-panamax bulk carriers, as follows: 119,000 tdw, built 2011 – UBC Onsan 119,000 tdw, built 2011 – UBC Ohio


ABB Turbocharger PM Model Demonstrates RoI

Approximately 200,000 ABB turbochargers are in operation across the globe on ships, power stations, gen-sets, diesel locomotives and large, off-highway  vehicles. Image ABB

Independent study demonstrates that ABB’s Preventive Maintenance model for turbochargers achieves significant cost and operational benefits ABB announced study results which show a 202% return on investment (ROI) from using ABB Preventive Maintenance


Container Shipping Market has Bottomed Out

Photo: CMA CGM

Hanjin’s receivership represents the trough of the container shipping market and despite continuing concerns of weak trade growth and fleet oversupply a gradual market recovery is now expected, according to the latest annual Container Forecaster and Review 2016/17 report published by global






 
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