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First Half

Offshore Wind Major, Dong Energy, Trims Sails, Ups H1 2013 Profit

Image courtesy of IWEA

The Board of Directors of DONG Energy has approved the interim financial report for the first half of 2013 with the following financial highlights and outlook compared with the first half of 2012: First-half 2013 EBITDA was DKK 7.8 billion against DKK 6.6 billion in the first half of 2012, primarily reflecting higher earnings from the wind activities and lower costs Profit after tax was DKK 0.4 billion, down DKK 0.3 billion on the first half of 2012. Gain (loss) on disposal of enterprises and impairment losses depressed first-half 2013 profit by DKK 0.2 billion net after tax compared with a gain of DKK 0.6 billion in the same period in 2012 Operating cash inflow increased to DKK 4.6 billion from DKK 2.9 billion in the first half of 2012, primarily reflecting a decrease in funds tied up in working capital and the higher EBITDA First-half 2013 net investments amounted to DKK 3.2 billion against DKK 6.1 billion in the first half of 2012. Gross investments amounted to DKK 8.4 billion and related primarily to development of wind activities and gas and oil fields, while disposals related to the Swedish hydro power company Kraftgården (DKK 3.3 billion) and the Polish onshore wind business (DKK 1.8 billion) Interest-bearing net debt decreased by DKK 0.5 billion from the end of 2012 to DKK 31.4 billion


Chemoil Reports Increase in Q2 Revenues

Chemoil has reported a 96 percent increase in revenues to $2.5b for the second quarter of 2008, compared to $1.3 billion for the second quarter of 2007. This was driven by an increase in energy prices and sales volume growth by 15% compared to the same period in 2007. Chemoil's revenue for the first half of 2008 increased 102% to $4.67 billion, compared to $2.31 billion for the first half of 2007. For the second quarter of 2008, profit after tax was $22 million, compared to $0


Bourbon Reports Increased Operating Income

Gross Operating Income totaled $146.2m or 115.1 million euros, up 12.7% in the first half of 2006. This strong performance was achieved by the sharp growth in the Offshore Division, particularly in Africa, and by the solid performance achieved by the Towage & Salvage Division, whereas the Bulk Division was impacted by lower cargo rates. Operating income rose 7.6% to $90.4m or 71.2 million euros and reflects the increase in amortization and depreciation due to the rise in the


NOL Group reports $67m loss in 1H 2011

Global container shipping and logistics group Neptune Orient Lines (NOL) reported a net loss of $67 million for the first half of 2011 compared to a $1 million net profit in the same period a year ago.  The Group said it lost $57 million in the second quarter of 2011. NOL reported a 9% revenue increase in the first half of 2011 to US$4.595 billion.  It announced a Core EBIT (Earnings Before Interest and Taxes) loss of US$28 million.


Bourbon Announces 1H Results

Christian Lefèvre, CEO, Bourbon.

“We have arrived at the end of a downturn that has lasted since late 2008, and the market for modern offshore vessels is now turning around. BOURBON has every chance of being the first to benefit from this new turn of events thanks to a high-performance modern fleet and a worldwide network. BOURBON’s operating income for the period is up 19.9% over the first half of the previous year and 145% over the previous six-month period


COSCO Warn of Dramatic Profit Dip

COSCO Shipping warns of 99.5% interim profit drop Shanghai-listed COSCO Shipping, the vessel service provision arm of China Ocean Shipping (Group) Co, says that profit attributable to shareholders for the first half will drop 99.5% from a year earlier to about RMB700,000 ($109,000). SinoShip News adds that other listed firms are feeling the pinch too. Shanghai-listed China Shipping Haisheng, a bulk carrier subsidiary of China Shipping Group


SembCorp First Half Down 6%

SembCorp Marine posted a 6.4 percent drop in half-year net profit to S$39.2 million ($21.4 million) from S$41.9 million in the first six months of 2001. The Singapore-based group -- a subsidiary of the SembCorp Industries conglomerate which concentrates on ship repair, offshore conversion and shipbuilding -- said in a statement its performance in 2001 was expected to be comparable with the previous year. It valued its outstanding order book for 2001-2004 at S$1.72 billion.


Stelmar Shipping Reports 2Q Results

Stelmar Shipping Ltd. announced operating results for the second quarter ended June 30, 2003. Stelmar reported its 34th consecutive quarter of profitability since inception and 10th quarter since going public in March of 2001. For the second quarter of 2003, including a non-operating loss from the sale of a vessel, the Company reported net income of $4,489,000, or $0.26 per diluted share. Excluding the non-operating loss, the Company earned net income of $11,744,000, or $0


A&B Reports 2Q Results

Alexander & Baldwin, Inc. has reported second quarter 2002 net income of $13,197,000, or $0.32 per share. Net income in the second quarter of 2001 was $24,514,000, or $0.61 per share, including a one-time gain of $0.23 per share on the sale of marketable bank securities. Revenue in the second quarter of 2002 was $279,185,000, compared with revenue of $293,012,000 in the second quarter of 2001. Net income for the first half of 2002 was $23,004,000, or $0.56 per share


Port of Hamburg Grows 8%

In the Port of Hamburg a total of 58.6 million tons of seafreight was handled in the first half year 2010. This comes up to a plus of 8.1 per cent compared to the previous year. Especially the strong growth of imports, which reached a total of 33.7 million tons, made for a higherthan- average growth by 12.3 per cent. Exports reached 24.9 million tons in the first half-year and, thus, increased by 2.9 per cent compared to the previous year


PGS Revenue Slumps

Jon Erik Reinhardsen, President and Chief Executive Officer Photo Courtesy PGS

Petroleum Geo-Services ASA reported revenue fall in their recently released Second Quarter and First Half 2016 Results. It logged a healthy MultiClient Sales and continues to undertake cost reductions.   Highlights Q2 2016   * Revenues of $183.0 million, compared to $255


GTT Cuts Outlook on Ship Construction Delays

French supplier of systems for marine transportation of liquified natural gas (LNG) Gaztransport & Technigaz (GTT) reported strong growth in its first half results on Thursday but cut its 2016 revenue outlook, blaming delays in the construction of some ships.  


MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Photo: Mitsui O.S.K. Lines

 Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for a floating storage and regasification unit (FSRU) project in Montevideo, Uruguay.  


Turkey’s Role for the Tanker Market

Map and Graph: Poten and Partners

 Even though the coup attempt in Turkey  failed and the transportation situation normalized quickly thereafter, Poten & Partners take a look at the importance of Turkey tothe tanker market.   Turkey is not a large oil or gas producer; according to JODI its crude oil production


India's Iran Oil Imports Surge in June

India's Iran oil imports rose about 39 percent in June year on year, preliminary data obtained by Reuters shows.   In the first half of 2016 India's Iran oil imports surged by about 58 percent to about 342,000 bpd, the data showed, in comparison with 216,500 bpd in the same period last year


Shipbuilding: Korea Losing Race with China

Photo: Samsung Heavy Industries

 The Korean shipbuilding industry has plunged into a deep crisis as the big three —Daewoo, Hyundai Heavy, and Samsung Heavy—posted record combined losses in 2015, and 2016 looks no better.   Added to the woes, Korean shipbuilders’ orders in the first half of this year


ABS Group Awarded BKR02 Wind Farm Certification Work

 England headquartered ABS Group Ltd., a subsidiary of ABS Group of Companies, Inc., said it has received a contract to provide project certification services to DONG Energy Wind Power A/S for the planned Borkum Riffgrund 2 (BKR02), one of the largest offshore wind farms in German waters.


Capsize Scrapping: It's Complicated!

Graph: ALIBRA Shipping

 Last year saw an upswing in Capesize spot rates during the first seven months of the year, peaking in early August, rallying briefly in September and declining for the rest of the year, says ALIBRA Shipping  in its Weekly Market Report.  


Shipping’s Half Year Report – “Must Do Better”

Graph: Clarksons Research

 With the spread of challenges facing the industry, it’s unlikely the shipping markets would achieve many top grades, says Clarksons Research.    However some sectors might still achieve an “A” for effort and this week’s analysis reviews the markets’


Unipec, Largest Dirty Tanker in Spot Charterer

Table Source: Poten & Partners

 China’s Unipec remained the top spot charterer of dirty tankers and VLCCs in the first half of 2016, according to Poten & Partners.   In stock of the spot market activity in the dirty tanker market  nothing (much) has changed between 2015 and 2016.  


Port Hedland June Iron Ore Exports to China Rise to Record

Port Hedland (Photo: Pilbara Ports Authority)

Record iron ore shipments to China moved through Australia's Port Hedland terminal in June, as major producers BHP Billiton and Fortescue Metals operated close to full capacity and inventories at Chinese ports swelled.   Most of the ore both companies mine is sent to China


Port of Ystad Posts Record First Half

(Photo: Port of Ystad)

Port of Ystad, which saw record-breaking volumes in 2015, continues reaching new record numbers in 2016 for traffic to and from Poland and the Danish island of Bornholm.    The number of ton goods, trucks, busses, cars and passengers all showed an increase during the first half of 2016


Port of Antwerp on the Way to Another Record Year

Photo: Port of Antwerp

 The port of Antwerp handled a freight volume of 108,317,922 tonnes in the first six months of this year, 3.6% more than in the same period last year. The container volume in TEU expanded by 4.4% while liquid bulk grew even more, by 8.4%


Little Rock Port Authority Reports June Shipping

Total barge tonnage through the Port of Little Rock in May was 66,000 net tons.  Dock activities continue to compare favorably to calendar year 2015. Logistic Services, Inc. has handled 274 barges during the first half of 2016 year and 410


South Korean Yards Face Shrinking Orderbook

Graph: Clarksons

 The global orderbook has continued to decline in the year to date, indicating that there are diminishing levels of activity at many of the world’s shipyards, says Clarksons Research.   In the last six months, South Korean yards have seen the largest decline in their orderbooks






 
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