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.
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:
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.
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
NOL Group today posted a 2Q 2014 net loss of US$54 million. Nevertheless, the Group has continued to make gains at the operating level, bringing its 2Q 2014 Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss down to US$15 million, a year-on-year improvement of 52%. The Group also improved its Core EBITDA this quarter, doubling it to US$78 million compared to US$39 million in the same period last year
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
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
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
Shipbuilder Austal Limited announced it has delivered record revenue and record earnings for the year ended June 30, 2015, with Net Profit After Tax (NPAT) of $53.2 million, a 66.8 percent increase on FY2014. Austal’s best result in its 27-year history was generated from revenue of $1.41 billion, a 26 percent increase on FY2014, achieved from multiple vessel programs, including major navy defense and patrol boat programs for the U.S
Jotun believes the European Union’s decision to approve the use of copper in marine antifoulings will ensure continued delivery of powerful benefits for both the shipping industry and environment. Copper is a key ingredient of most antifouling coatings
2016 is not yet over, but the volume of transshipments is already higher than in the previous record year, being currently estimated at more than 36.3 million tonnes. This is a result which, until recently, would have been out of reach for any Polish port
BP's oil trading business, one of the biggest in the sector, reported a rare loss in the fourth quarter after it lost a $70 million lawsuit over an oil cargo delivered to a Moroccan refinery. BP's Chief Financial Officer Brian Gilvary said due to flat trading positions ahead of a crucial
The Port of Gdansk handled a total of nearly half a million trucks and almost 240,000 railway wagons in 2016. In comparison to 2015, it was a leap of 43% in the case of trucks, and of 24% in terms of the intensity of rail traffic
Company experts at Centek Industries' headquarters in Thomasville, Ga., frequently receive questions about the design, engineering and manufacturing of custom marine exhaust systems. Here are three of the questions asked most frequently, along with answers from Centek.
Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted by continued strong operational performance, fleet growth and general cost savings
Egil Haugsdal has been selected to take over as President of Kongsberg Maritime. Haugsdal holds extensive leadership experience from KONGSBERG, currently leading Kongsberg Oil & Gas Technologies, with previous experience as Executive Vice President of Business Development and as President of
2015 was another busy year for the Danish Maritime Authority in which many results were achieved – covering a wide span from growth to safety. This is evident from the annual report of the Danish Maritime Authority, which has just been published.
China Shipping Development Company Limited (CSDC) achieved 34.95% higher profit for 2015 totaling in RMB417 million ($64.3 million) when compared to figures from 2014, mostly due to a very strong tanker market. The revenue was stable at RMB12.21bn in 2015 compared to RMB12
Nadir B. Godrej, MD of Godrej Industries Ltd., was conferred the Lifetime Achievement Award by the All India Liquid Bulk Importers and Exporters Association (AILBIEA) during its 15th Anniversary celebration held on 1st April 2016 in Mumbai.
The members of the American Waterways Operators, the national trade association representing the tugboat, towboat and barge industry, elected a new slate of leaders during AWO's Spring Convention held recently in Washington, D.C. James F
Disciplined underwriting delivers another successful year London, 11 May 2016 – The UK P&I Club (“The UK Club”), one of the leading shipping protection and indemnity mutual insurers, announces its financial results for the year ended 20 February 2016.
Scandlines focused the business on the Germany-Denmark routes and made significant investments in future-proofing the group’s ferry operations as well as catering and retail activities in 2015. Efforts to promote the Rostock-Gedser route paid off for Scandlines having recorded the highest
1850 - USS Advance and USS Rescue sail from New York in a failed attempt to rescue Sir John Franklins Expedition, lost in the Arctic since 1847. Caught in the ice and after tremendous hardship, USS Advance returns on Aug. 20, 1851. Rescue returns Sept. 7.
The Port of Kiel is on course for growth after upping handling in both the cargo and passenger sectors by nearly 2 percent in the first half of 2016. The port’s various quay and terminal facilities handled 3.1 million tons of incoming and outgoing cargo – an increase of 1