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Good Results

Ulstein Posts Profit Results

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.


A.P. Moeller Expects Good Results

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 Intl. Earnings Up 40%

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 in Deal for Naval Test Ship

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 Reports Improved 2013 Results

Gunvor Ulstein (photo courtesy the Ulstein Group)

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 Cuts Losses Despite Difficult Trading Conditions

  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 Profit Soars 60%

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


Howard Smith Posts Flat Results

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 Ratchets Up Q2 2013 Profit

Matson logo

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


Austal Delivers Record Profit Increases

Austal recently delivered LCS 6 to the U.S. navy (Photo: Austal)

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


American Waterways Operators Elects Chairman

Jim Farley, Corporate Vice President - Industry Relations, Kirby Corporation, is named Chairman of the Board of the American Waterways Operators, the national tugboat, towboat and barge industry association. (Photo: American Waterways Operators)

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


UK P&I Club's Good Results in Difficult Times

Alan Olivier, Chairman of the UK P&I Club

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' Highest Passenger Transport Record

Scandlines focused business and invested in the future in 2015 Photo Scandlines

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


This Day In Naval History: May 23

Members from the guided-missile cruiser USS Lake Champlain (CG 57) tow a disabled skiff carrying 52 Somali migrants. (U.S. Navy photo by Daniel Barker)

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.  


UK P&I Club Sets 2.5% General Increase

The UK P&I Club, a provider of protection and indemnity insurance,  agreed at its board meeting Monday that the General Increase for the 2016 renewal will be 2.5 percent. In announcing the increase, the UK Club board said it is mindful of the continuing stress in certain sectors of the


GasLog Posts Good Results

Photo: GasLog Partners LP.

 GasLog Partners LP, an international owner and operator of liquefied natural gas (LNG) carriers,  increased quarterly cash distribution by 10% to $0.478 per unit for the third quarter of 2015, equivalent to $1.912 per unit on an annual basis.  


ITF Seafarers’ Trust Launches Shore Leave 2.0

Press release - The ITF Seafarers’ Trust is launching an enhanced version of its free Shore Leave app – the first app designed to help seafarers looking for reliable transport when in port. Shore Leave only needs to be downloaded once


IMO Sets Guidelines for 2016-17

Photo Danish Maritime Authority

  The IMO has just closed its Assembly meeting in London, which is held every second year. A number of important items were on the agenda, including the IMO work programme and budget for the 2016-17 biennium as well as the Organization's work on safety and the environment since the recent


Maersk Joins WTO’s Global Alliance for Trade Facilitation

The objective of the Global Alliance for Trade is to accelerate trade facilitation reforms by supporting swift and wide implementation of the WTO Trade Facilitation Agreement (TFA) Courtesy Maersk

The new alliance was announced at the 10th WTO Ministerial Conference in Nairobi, Kenya and consists of governments, international companies such as Maersk Group, DHL and Wal-Mart, and the International Chamber of Commerce and the World Economic Forum.


Marine Exhaust Systems FAQ

A salt deposit on a muffler indicates a “weeping” spot where water is escaping. How to fix a leaking muffler is a question frequently asked of the exhaust systems experts at Centek Industries. (Photo: Centek Industries)

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 Posts Record Profit

Courtesy Maersk Drilling

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


Haugsdal to Take Over as Kongsberg Maritime Head

Egil Haugsdal (Photo: Kongsberg)

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


Danish Registry's Tonnage Rise Despite Challenges

Courtesy Danish Maritime Authority

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 Proft Surges

Photo: China Shipping Development Company Limited

 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


Godrej Conferred AILBIEA's Lifetime achievement Award

Nadir B. Godrej, MD of Godrej Industries (at left) receiving the award

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. 






 
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