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
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
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
While the large oceangoing variety of ships garners the lion’s share of attention in regards to Arctic operations, modern offshore vessels that will be required to support potential oil and gas business in the region are equally vital. Viking Supply Ships recently carried out full scale ice
Underwater thickness gauge enables divers to monitor conditions of sunken submarine A team of divers from the A7 Project have measured the metal thickness of the sunken HMS A7 submarine using a Cygnus DIVE underwater ultrasonic thickness gauge
Royal Boskalis Westminster N.V. (Boskalis) achieved net profit of EUR 490 million in 2014. Revenue rose by 1 per cent to EUR 3.2 billion (2013: EUR 3.1 billion). EBITDA rose by 25 per cent to EUR 946 million (2013: EUR 757 million) and the operating result (EBIT) was up
Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions to continue through 2015 as the tanker market has come off to a good start.
Ensco plc today reported a loss of $5.07 per diluted share in second quarter 2014 compared to earnings of $1.55 per diluted share in second quarter 2013. The loss from discontinued operations for second quarter 2014, which includes a $546 million pre-tax loss on impairment for four
Despite what it describes as 'challenging market conditions' Royal Boskalis Westminster N.V. posted record profits in the first half year ended 30, June 2014. Highlights first half 2014 - Revenue exceeds EUR 1.5 billion - EBITDA: EUR 466 million
FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust) has generated a profit of $1 million for the 2Q of the 2014 financial year. This profit compares to a $7.2 million loss for the 2Q’s corresponding previous year
Touch screen technology has transformed everyday life and now, thanks to Norwegian e-navigation specialist NAVTOR, it is set to revolutionize operations onboard busy vessel bridges. Today sees the launch of the NAVTOR NavStation, the world’s first ‘Digital Chart Table’ and a
The Hamburg Port Authority (HPA) will implement the new Port Railway IT system, transPORT rail, in the night of 27 to 28 September 2014. To keep disruption on the tracks to a minimum, the switchover will take place overnight. The new system is another milestone in the HPA’s
Pronomar received an order from Uniworld/Global River Cruises GmbH to apply the Pronomar MERUS technology on board of one of its luxurious River Cruise vessels; the River Beatrice. Following good results on previously equipped vessels, Pronomar equipped complete cold water system
Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.45. The third quarter of 2014 included a negative impact of $0.09 per share for restructuring costs
Snøhvit cargo number 500 was loaded at Melkøya on Mondaym October 27, Statoil said. Since startup in 2007, more than NOK 80 billion worth of LNG has been dispatched from Melkøya. The special vessel Arctic Voyager is the 500th to visit Melkøya and Hammerfest to carry
Start-stop function combined with variable generator speed For many years the start-stop function has become a common feature on automotive engines to reduce both fuel consumption and emissions. But the saving potential is much larger with onboard electrical power supply and propulsion
Q3 TRADING UPDATE - HIGHLIGHTS Good third quarter with sizable financial settlements on old projects Order book increased slightly to EUR 3.3 billion 2014 OUTLOOK Market conditions remain challenging Good second half-year expected
Jerrold Denet, owner of Denet Towing in Boothville, La., is as straight forward as they come. When asked why he started his towing company in 1982, the response was incredulous: “Why did I start it? I started it to work and to make money!”