2007 was a hectic year for the Ulstein Group, with all of its companies running at full capacity. The Group had NOK 1.97 billion in turnover and an operating profit of NOK 194 million, the best cumulative profit result since 1999. In recent years the Ulstein Group has spent a great deal of time developing new products and work processes. In 2007 the Group delivered comprehensive design and equipment packages to shipowners in , and . It also built three ships, one of which, the Normand Seven, was named Ship of the Year for 2007. The Electro department has used great resources in the development of new products, but achieving revenue growth here has not been easy. Even satisfactory capacity utilisation within systems and service, electronics, automation and installation wasn’t enough to produce positive results totally. 2007 profits are due in large part to good results from the shipping segment. Solid and systematic innovation work will almost always bear fruit, directly or indirectly, in the long term, Ulstein says.
Danish shipping and oil group A.P. Moeller, Denmark's biggest private enterprise, said that it expects full-year 2000 earnings of its two main business areas to exceed 1999 levels. "For the year 2000 the combined shipping activities are expected to generate a result before special items that is somewhat above the result for 1999." "After special items and after tax a result significantly above that of 1999 is expected," the group said.
STX Offshore & Shipbuilding received an order for a next generation naval test ship from Agency for Defense Development (ADD). The ship will support marine weapon system tests and conducts environmental surveys on the test sea area. The vessel, worth around $359m, weighs 1,200 tons and is able to accommodate about 30 people. The ship, with 4,000 nautical miles, is scheduled to be delivered to ADD in May 2012.
Smit International NV announced that net earnings for 2005 have risen by nearly 40% to EUR 38.3 million. Despite facing a heavier tax burden of 30% (up from 24% in 2004), the divisions Harbor Towage, Terminals and Transport & Heavy Lift achieved better results in comparison to 2004. The Salvage division performed well above the so called historical average. SMIT has served the maritime sector for more than 160 years. SMIT’s services are organised into four Divisions:
Smit International announced that its mid-year results saw profits soar 60% from EUR 29.7 million to EUR 47.5 million, driven by an extremely busy six months and good results in its salvage division, and strong pricing and utilization in its Transport & Heavy Lift Division. "The exceptionally high results in the second half of 2006 were continued in the first half of 2007, with our net profit rising 60% relative to the first half of 2006,” said CEO Ben Vree
The North of England P&I club's overall free reserves at 20 February 2004 increased by 34 % to reach US$ 133.5 million despite a difficult year for claims. The 50 million GT club's accounts for the 2003/04 year, which have just been approved by the directors, show a substantial improvement in investment return and further consolidation of the A- rated club's financial position. The P&I class investment portfolio, which remains conservatively structured with 72.5 % in bonds and cash and 27
Hardware and towage group Howard Smith Ltd. pointed to a difficult market for its main hardware and industrial supplies businesses on Tuesday, after posting a flat half year result. Although recent data pointed to a housing recovery, actual spending on hardware was expected to lag housing approvals and a break in economic conditions was not expected until at least mid-year. "The outlook for the next four months is tough
Geir Håøy has been appointed President of Kongsberg Maritime and will join the Group Corporate Management Team in KONGSBERG. Håøy has worked for Kongsberg since June 1993, holding various management positions since 1996. Håøy succeeds Torfinn Kildal, President of Kongsberg Maritime since 1999. Håøy has broad international experience from different positions in Kongsberg Maritime
Ulstein delivers second PX121 Platform Supply Vessel (PSV) 'Blue Prosper' to Blue Ship Invest. “This project has flowed really well, and we’ve been able to draw on the experiences we made when building the first vessel in this series, ‘Blue Fighter’, says Karsten Sævik, Managing Director of Ulstein Verft. “The vessels were ordered based on market trends showing a future increase in demand for this type of PSV
A group of 12 reserve Sailors became plank owners on Aug. 25 for initiating the Surge Main concept at Norfolk Naval Shipyard (NNSY), where they performed a number of deckplate repair functions - seamlessly and professionally - during their annual active duty training. “We were able to hit the ground running by drawing on lessons learned from related programs at Pearl Harbor Naval Shipyard (and Intermediate Maintenance Facility)
MAN Diesel & Turbo reinforces its long-standing collaboration with SpecTec Group, selecting AMOS software as assisting training tool to be used at the MAN PrimeServ Academy in Copenhagen. With the intent to further improve its hands-on training courses
2012 was a challenging year for the Dutch shipbuilding industry. In general, the industry was able to achieve relatively good results. The various shipbuilding categories however showed a mixed picture. Holland Shipbuilding Association hereby presents you a statistical overview of the Dutch
DNV said its continued focus on safety and service quality and the ability to provide leading-edge technology advice and solutions contributed to its market and financial performance in 2012. The company reported that revenues increased by 27% compared to 2011
Ulstein Group report an operating income of NOK 2.27 billion and an operating profit of NOK 228 million in their 2012 financial report. *Operating income: NOK 2.27 billion (2011: NOK 2.06 billion) *Operating profit: NOK 228.0 million (2011: NOK 253.7 million)
Designers, builders & propellor suppliers employ latest technologies to achieve good results in sea trials of the latest 'Seahorse 35000' bulk carrier. The combined efforts of Stone Marine Propulsion, the NPT propellers designers and manufacturers
Navico — selling under the Lowrance, Simrad and B&G brands — announced its operational performance results for the fourth quarter and the year ending December 31, 2012. Revenue in the fourth quarter increased by 27% compared to the same period in 2011
Becker Marine Systems continues to focus on energy savings. The new product innovation for container ships and other fast vessels was developed with the combined expertise acquired from Becker rudders for fast ships and the Becker Mewis Duct for slower vessels
Simmons & Co in Aberdeen completed 14 deals in 2012 valued $2.3-billion, more than double the 2011 total value. The corporate finance advisers to the energy sector have played a significant role in many of the most prominent transactions that took place across the oil and gas service sector
Dutch dredging & marine specialists, Royal Boskalis Westminster N.V. (Boskalis) report revenue & profit higher than in the first half of 2012. The order book increased in recent months and stood at a new record high of EUR 4 billion at the end of the third quarter
Among container Carriers, Maersk Line currently has the largest number of vessels idle. A report by shipping analyst Alphaliner (Vol. 2012, Issue 46) reveals Maersk Line as the carrier with most vessels idled, currently 14 units with an aggregate capacity of 94,000 TEU.
Container ship owners Hapag-Lloyd report increased revenue and profits in the third quarter 2012. Hapag-Lloyd was able to increase freight rates, revenue and results in the third quarter, although the market environment remains challenging
The use of computers to solve hydrodynamics problems in shipbuilding started in early days of scientific computing – as early as in aerodynamics and aerospace. Due to limited computing resources at that time, potential flow model was used in both aero- and hydrodynamics
The 64 m long fishing vessel 'Amaltal Columbia' was abandoned after a blaze started in the after part & spread throughout the vessel. All 43 crew of the 64m New Zealand fishing boat Amaltal Columbia, owned by Talley’s, have abandoned ship and been transferred to two other fishing
Hapag-Lloyd substantially increases rate, revenue & result in a successful Q2 2012 turn-around. Following a seasonally weak first quarter, Hapag-Lloyd achieved a turnaround in the second quarter of 2012, improving its result by more than
Dubai Maritime City Authority (DMCA), the government authority in charge of regulating and supervising all aspects of the maritime sector in Dubai, has held today (Monday, June 25, 2012) the first-ever maritime industry workshop in Dubai attended by key maritime industry partners in the emirate.