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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.


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


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


Hapag-Lloyd in Troubled Waters

Photo: Hapag-Lloyd AG

 German container shipping company Hapag-Lloyd AG has swung to a loss in the first half of the year as tumbling freight rates weighed on revenue.   The bad news comes as the Hamburg-based company tries to boost its fortunes through a merger with United Arab Shipping Company.   Subdued economic growth in many parts of the world, persistently tough competition in the liner shipping industry and further declines in freight rates have marked the first half of the 2016 business


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


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.


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


DHT Fixes VLCC Issue, Defers Newbuilding

Photo: DHT Holdings, Inc

 DHT Holdings, Inc. said that during a routine inspection of the DHT Jaguar, a fracture surrounding the inspection window of the rudder was identified.  It is DHT's policy to inspect all newbuildings, including underwater areas, during their respective warranty periods.    


FSC Denies Mergers Between Big Three Shipbuilders

Image: Daewoo Shipbuilding & Marine Engineering Co

 The chairman of South Korea's Financial Services Commission, Yim Jong-Yong, reiterated  that Daewoo Shipbuilding and Marine Engineering (DSME) would not be merged with Samsung Heavy Industries (SHI) and Hyundai Heavy Industries (HHI), according to a report in Korea Times.  


Tanker Docks at Libya's Es Sider Port to Load First Crude Cargo in Two Years

An oil tanker docked at the east Libyan port of Es Sider on Monday to load the first cargo of crude since the terminal reopened following a two-year closure, port officials said.   Es Sider, Libya's biggest export terminal, had been shut due to a blockade by a military faction since 2014


Australia’s New Cape Class Patrol Boat Rolled Out

Austal’s Cape-class patrol boat program for the Royal Australian Navy has directly engaged 348 Australian suppliers and directly employed 350 people over the past 12 months of construction. (Photo: Austal)

Australian shipbuilder Austal has rolled out the ninth Cape class patrol boat for the Royal Australian Navy (RAN).   Designed and constructed by Austal, Hull 380 is the first of two Cape class vessels scheduled to be delivered in 2017.  


Boskalis Profits Zoom as Expected

Royal Boskalis Westminster N.V.  closed the third quarter of 2016 in line with expectations. Image Boskalis

Royal Boskalis Westminster N.V. (Boskalis) closed the third quarter of 2016 in line with expectations. Both revenue and operating profit were higher than the average seen in the first two quarters of the year. The increase was wholly attributable to the contribution from the offshore activities


Volvo Penta Engines for Two New Elizabeth River Ferries

Image: Volvo Penta

Hampton Roads Transit (HRT) has specified twin Volvo Penta 13-liter 400 hp diesel engines to power its two new Elizabeth River ferries – River Ferry IV and V – due to enter service later this year. The ferries provide daily, round-trip connections between the downtowns of Norfolk and


Six SAR Boats from Damen Shipyards Antalya

6  Damen SAR Boat Photo Damen

Damen has signed a contract with the International Organisation for Migration (IOM) in Ankara, Turkey for the supply of six, state-of- the-art Search and Rescue (SAR) vessels for delivery in 2017. The boats are being financed by the European Union and will be operated by the Turkish Coastguard


Liberia leads drive for Effective Implementation of BWMC

Liberia is leading a move to amend the Ballast Water Management Convention (BWMC) which will allow certain ships additional time beyond 2020 in order to ensure that adequate new ballast water management (BWM) systems are commercially available


De Nora Bags Repeat BWTS Order from OSG

Image: De Nora

Electrochlorination equipment supplier De Nora has received an order from tanker company Overseas Shipholding Group (OSG) for its BALPURE ballast water treatment systems (BWTS). OSG will retrofit the proprietary slipstream electrochlorination BWTS on four 69


Braemar Shipping Fighting The Waves

Photo: Braemar Shipping Services plc

 Braemar Shipping Services PLC reported a sharp decline in pretax profit for the first half of its financial year on Tuesday, hit by difficult conditions in a number of its key end markets, reports Alliance News.   In August, Braemar warned its results for the year to the end of


Adani Ports PAT Grows by 61%

Karan Adani Karan Adani CEO, APSEZ   Photo Adani

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and the logistics arm of Adani Group, today announced another stellar operational and financial performance for the quarter and half year ended September 30, 2016.  


Bumi Armada Berhad Names Its News FPSO

Naming Ceremony of Armada Olombendo (Photo: Bumi Armada)

Bumi Armada Berhad, Malaysia-based international offshore energy facilities and services provider celebrated the naming ceremony of the Armada Olombendo Floating Production Storage and Offloading (FPSO) last weekend. Armada Olombendo FPSO represents Bumi Armada’s largest FPSO and it will


Korea's Top 3 Shipbuilders' Shaky Performance

File Photo: Samsung Heavy Industries

 The value of contracts signed by Korea's big-three shipbuilders— Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, and Samsung Heavy Industries — fell far behind the amount they projected for this year, reports The Korea Herald.  


Iran’s Gasoline Imports Plunge

Photo: National Iranian Oil Company

Iran's gasoline imports decreased from 12 million liters per day (ml/d) in the first half of current fiscal year to 4 ml/d currently, says Seyyed Mohsen Ghamsari, the director for international affairs of the National Iranian Oil Company (NIOC).  


Maersk Bullish on India

Photo: Maersk Line

 BRICS bloc export-import (exim) containerised trade with the world registered a growth of 5.8 per cent in the first half of 2016 as against de-growth of 2.2 per cent in the same period last year  was "led by India", reports Times of India quoting Maersk Line sources.  






 
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