The Finacantieri Group reports being in a phase of strong growth thanks to the acquisition of Vard, & triples its first-half 2013 operating result compared to last year. In summary: • Operating result (EBIT) at euro 101 million • EBITDA at euro 137 million with a margin of 7.1% • Revenues at euro 1,934 million • Net cash of euro 183 million • Order portfolio at euro 10,889 million • New order intake of euro 1,843 million The first half of 2013 reports an EBIT of euro 101 million (euro 34 million at 30.06.2012), an EBITDA of euro 137 million (euro 68 million at 30.06.2012) and revenues of euro 1,934 million (euro 1,233 million at 30.06.2012). These positive operating results have been obtained in a market environment that remains challenging despite some initial signs of recovery, and have benefited from the first-time consolidation of the Vard group effective from 23 January 2013. Giuseppe Bono, Fincantieri’s Chief Executive Officer, commented: "There are reasons to be reasonably optimistic about the future, especially if the Fincantieri system and the national system will achieve a unity of purposes focusing on sectors that stimulate exports and employment and attract major foreign investments in Italy."
The Stolt-Nielsen Transportation Group reported that it is cooperating with competition authorities in the European Union in connection with an investigation into possible collusive behavior in the intra-European inland barge industry. SNTG had previously reported that it is cooperating with competition authorities in the United States and the European Union in connection with investigations into possible collusive behavior in the parcel tanker industry.
Halter Marine Group, Inc. announced the company's financial results for the quarter ended December 31, 1998 were a loss of one million dollars, on revenue of $279.2 million. This compares to net income of $8.8 million, on revenue of $180.6 million in the third quarter of fiscal 1998. For the nine months ended December 31, 1998, the company reported net income of $11.8 million, on revenue of $759.8 million. For the comparable 1997 period, Halter Marine Group reported net income of $22 million
Military shipbuilder Litton Industries Inc. on Wednesday reported lower fiscal first-quarter earnings, but surpassed Wall Street forecasts due to strength in its recently refocused core operations. Litton, the largest builder of non-nuclear ships for the U.S. Navy, reported a net profit of $44.9 million, or $.97 per share, for the quarter ended Oct. 31, down from $49.9 million, or $1.07 a share, a year earlier. Analysts had expected earnings of $
Singapore's Neptune Orient Lines (NOL) may be shaping up as a takeover candidate, a report in Bloomberg said. The appeal of the shipping company that helped cement Singapore's status as a global trade hub has increased after it agreed to sell its logistics unit last month for US$1.2 billion to cut debt. Possibility of a sale may help Temasek Holdings Pte, the Singapore state's Sovereign Wealth Fund (SWF) that controls Neptune Orient, bolster returns. The $1
SINWA announced financial results for its 2nd quarter ended June 30, 2015. The group reported a 7.4 percent year-on-year increase in total revenue to S$40.8 million for 2Q2015. This was due to the growth in customer base and increased sales volume from existing customers for the marine and offshore supply business. Gross profit also increased by 7.7 percent year-on-year to S$9.7 million, in line with revenue growth with gross profit margin remaining relatively constant at 23.8 percent
The I.M. Skaugen group reported a pre-tax result of minus MUSD 1.5 in 2Q04 (MUSD 0.8 in 1Q04, minus MUSD 3.0 in 4Q03 and MUSD 2 in 2Q03). The result on EBITDA basis is MUSD 3.8 for this period (MUSD 4.4 in 1Q04, MUSD 5.4 in 4Q03 and MUSD 7.5 in 2Q04). The Gas Activities, and mainly Norgas experienced a much weaker EBITDA result in 2Q04 than anticipated. A worldwide shortage of product supply resulted in more idle time for the MNGC fleet and thus a reduced EBITDA contribution.
CMA CGM, the world’s third largest container shipping group, reported revenue of U.S. $14.87 billion for the year ending December 31, 2011, a 4% increase on 2010. Volumes carried increased by 11%, outperforming the market’s 6.5% increase and reaching a record high of 10,016,000 teus. The market environment was challenging, shaped by overcapacity and the steep run-up in oil prices, with per-tonne bunker prices soaring 34% over the year
Tanker operator’s hopes have been buoyed recently by a sharp upturn in crude tanker rates. Historically, tanker rates over the last two months of the year are the seasonally strongest, and this seems to be playing out this year, according to PIRA Energy Group's latest Market Recap. VLCC rates have risen to the highest levels since November 2012, supported by the end of the Far East refinery maintenance period and record levels of Chinese imports
NOL Group reported a first quarter 2016 net loss after tax of $105 million. Core EBIT (Earnings before Interest, Taxes and Non-Recurring Items) for the period was a loss of $84 million, while core EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) remained positive at $18 million. “Worsening overcapacity of shipping tonnage in 2015 hit the industry well into first quarter 2016. Freight rates which declined across major trade lanes to historic low are
French-based CMA CGM, the world's third-largest container shipping firm, said on Monday it expects its volume growth to outperform the market again in 2016 after strong expansion last year helped it cushion a slide in freight rates.
The Hamburg Süd Group reported it has increased its total turnover by 16.8 percent to 6,058 million euros, driven primarily by its takeover and integration of the container operations of the Chilean shipping company Compañía Chilena de Navegación
Danish shipping and offshore energy conglomerate Maersk Group reported its profit at US$ 224 million for the first quarter of 2016, a drop of 86 percent compared to $ 1.6 billion seen in the same period a year earlier. Hit by low oil prices and freight rates
The restructuring issue of Samsung Heavy Industries (SHI) will spread to the entire Samsung Group as its main creditor Korea Development Bank(KDB) and the financial authorities are putting pressure on the group, reports Business Korea.
The container carriers have managed to reduce their combined CO2 emissions by around one third since 2009, according to a new report. Average CO2 emissions per container per kilometer for global ocean transportation routes have declined by 8
In what it is calling its best quarterly performance since third quarter 2008, the Odfjell Group for the second quarter of 2015 reported net results of $7 million. The group, which transports and stores bulk liquid chemicals, acids, edible oils and other special products
TRIYARDS Holdings Limited (TRIYARDS or the Group) reported a strong finish for the financial year ended 31 August 2015 (FY15) with a 59% year-on-year jump in net attributable profit (PATMI) to US$8.4 million in the fourth quarter, driven mainly by liftboat construction.
Shares of Cosco Group and China Shipping have taken a hammering on the stock markets as two major companies lost about $900 million in total market value after the government proposed combining its two key ocean liner groups, reports Bloomberg.
Chinese shipping subsidiaries will realign their businesses in response to the merger between China Ocean Shipping (Group), known as Cosco Group, and China Shipping Group, reports Nikkei. Sinotrans & CSC Holdings Co., the nation's third largest shipping company
A group of Japanese shipbuilders led by Mitsubishi Heavy Industries Ltd (MHI) plans to exit its 30 percent stake in Brazilian shipbuilder Ecovix and declare the investment as a loss, Valor Economico newspaper reported on Tuesday. The group led by MHI plans to sell its stake in Ecovix
An Israeli exploration group reported on Sunday it has discovered another large natural gas field off Israel's Mediterranean coast. The group, led by Isramco Negev and Modiin Energy, said that a resource report showed there could be an estimated total of 8
India's New Mangalore Port Trust (NMPT) Chairman P.C. Parida said the port is confident of completing work on the proposed Liquified Natural Gas (LNG) terminal which shall be operational in 2017. NMPT is the first Indian port to start the Ro-Ro service from Mangaluru to Hazira port
Offshore marine services provider PACC Offshore Services Holdings (POSH) has plunged into the red in 2015 due mainly to a huge impairment charge of $144.58m. The group reported yesterday a net loss of US$149.7 million (S$211 million) for the three months to Dec 31
Mitsui O.S.K. Lines, Ltd. today announced that the “MOL Group Safety, Environmental and Social Report 2015”(*1) received the Award of Merit in Environmental Report section at the 19th Environmental Communication Awards(*2). This marks the second consecutive year the report has won the
The 2015 NYK Report has been honored with an award for excellence in the environmental reporting category at the 19th Environmental Communication Awards, which are jointly sponsored by Japan’s Ministry of the Environment and the Global Environmental Forum