Marine link
 

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


Lamprell First Half Results Beat Expectations

Muhaiyimat project for National Drilling Company (Photo: Lamprell)

Lamprell today announced its financial results for the first half of 2014, reporting results ahead of expectations due to strong operational performance and early results from savings initiatives, generating improved margins. Revenues rose by $125


DP World 1H 2014 Profit Soars

Container gantry: Photo courtesy of DP World

Global marine terminal operator DP World releases strong financial results from its global portfolio of marine terminals for the six months to 30 June 2014, delivering profit attributable to owners of the Company before separately disclosed items of $332 million, 40


Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas, even as it kept investing in electricity storage. Turnover fell 5.2 percent to 5.1 billion euros ($6


Clarksons PLC Perform Strongly in 1H 2014

CEO Andi Case: Photo Clarksons

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.7m in the first six months of 2014 (2013: £89


Clarksons Report Strong First Half Performance

Clarkson logo

Leading shipping services group Clarkson PLC (Clarksons) has reported its unaudited Interim Results for the six months ended 30, June 2014. Summary     •    Strong performance in continued challenging market conditions


First Oil in Salamander FSO at Bualuang Field

Greater Bualuang operations banner

  Salamander announces that first oil has been received in the tanks of the newly converted Suksan Salamander Floating Storage and Offtake Vessel (“FSO”) at the Bualuang field in the Gulf of Thailand. This is the culmination of the planned upgrade to the field’s facilities


EMGS Reports 2Q and 1H 2014 Results

CEO of EMGS, Roar Bekker

  Electromagnetic Geoservices ASA's (EMGS) reported revenues of USD 42.5 million in the second quarter 2014, down from USD 61.3 million in the first quarter this year and from USD 44.4 million in the corresponding quarter last year. Contract sales totaled USD 35


Odfjell 2Q Results In Line with Expectations

Photo courtesy of Odfjell SE

Chemical Tankers had an EBITDA of $24 million, compared with $17 million in the first quarter. Improved utilization with only minor interruptions of trade. Time-charter results were up by 10%. Odfjell's shareholding in the tank terminals business delivered an EBITDA of negative $10 million in


Kuwait to Boost Oil Exports to China

State-run Kuwait Petroleum Corporation (KPC) and China’s Unipec signed a landmark deal yesterday that will almost double crude oil deliveries over a decade, the biggest-ever contract in KPC’s history..jpg

  Kuwait plans to increase the volume of crude oil exports to China to 500,000 barrels a day (bpd) in three years, an executive at the state-run Kuwait Petroleum Corporation (KPC) said Saturday. On Monday, Kuwait concluded a new 10-year deal with a China's Sinopec Corp to nearly double


Sinopec's Profit up at 32.5 billion yuan in 1H, 2014

sinopec

  Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%. Semi-annual report and display


Höegh LNG - Interim results for quarter ended 30 June 2014

  Höegh LNG reported USD 32.3 million in total income in the second quarter 2014, down from USD 42.7 million in the second quarter 2013. The decrease is mainly due to USD 16.2 million lower construction contract revenues. "We reached an important milestone when the complex FSRU


CMB Cancels Order with S.Korean Shipbuilder

Photo: CMB

Belgian dry bulk shipping group CMB said on Tuesday it had cancelled an order for four vessels with South Korean shipbuilder Samjin set to be delivered in 2014. CMB, which added that the shipbuilder was not able to deliver the four handysize vessels on time


Shanghai Port's Q2 Profit Down; China Trade Flagging

Shanghai International Port , the operator of the world's busiest container port, reported earnings on Wednesday that showed its second-quarter net profit fell 2.5 percent in a sign of slowing trade in China. Shanghai Port said in a Chinese-language filing on the Shanghai stock exchange that


Piraeus Port Posts Flat Profit, Sales Dip

Photo: Piraeus Port Authority

Greece's Piraeus Port (OLP) , the largest in the country, said its first-half net profit was almost unchanged from the same year-ago period, while sales fell. Piraeus Port, which is privatisation, is one of the busiest passenger ports in Europe


Kiel Port Growth Continues

Photo courtesy of Port of Kiel

Cargo and passenger handling rise by 3%. Handling in the Port of Kiel continued to grow in the first half of the year. A total of 3.24 million tons of cargo were handled in the first six months of 2014 which is an increase of 3% over the same period of last year






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