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Group Reports

Fincantieri Half-year 2013 Growth Due to Vard Acquisition

Photo courtesy of Fincantieri

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."


Stolt-Nielsen Granted Conditional Amnesty for Investigations

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 Announces 3Q 99 Financial Results

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


Despite Low Earnings, Litton Surpasses NYSE Forecasts

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 $


CMA CGM Reports Encouraging Outlook for 2012

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


Sharp Upturn in Crude Oil Tanker Rates

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


Skaugen Reports Loss

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.


Resolve Stations “Flagship” Vessel in Key West

pioneer w plume web.jpg

RESOLVE Marine Group reports that its vessel RESOLVE Pioneer, the company’s flagship, has been stationed in Key West, Fla. Resolve Pioneer is an AHTS, a multi-service vessel with ice class hull and 80-ton bollard pull, stationed in Key West for an indefinite period -- for emergency response and salvage standby for tanker and other commercial vessel casualties in the Gulf of Mexico, the Caribbean and the U.S. east coast


NOL Reports $50 Million Profit

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Increased operational efficiency, better market conditions boost Group’s performance.   NOL Group  reported net earnings of $50 million for the third quarter of 2012, a $141 million turnaround from the $91 million net loss in the third quarter of 2011. It was the first time since the fourth quarter of 2010 that the global container shipping and logistics group posted a net profit. Singapore-based NOL attributed the improvement in financial performance to increased cost


NOL Reports $148 Million Year-On-Year Improvement

NOL Group reported first quarter 2013 Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of $85 million, a 64% improvement or $148 million, in the key profitability measure from a year ago. NOL attributed the improvement to a continuing focus on operational efficiency and cost mitigation. It was the fourth consecutive quarter of year-on-year improvement posted by the Group on a Core EBIT level.  


NOL’s 2013 Financial Performance up 82%

Group narrows net loss; lifted by $470 million (USD) cost savings and building sale. NOL Group today reported a 2013 net loss of $76 million, improving 82 percent from a $412 million loss the previous year. The group’s full year financial results were helped by a non-recurring $200


ABS to Release LNG Bunkering Report at CMA 2014

ABS banner

Classification society ABS inform that on Tuesday, 18 March 2014, ABS Vice President for Global Gas Solution Patrick Janssens will present an ABS report entitled Bunkering of Liquefied Natural-Gas Fueled Marine Vessels in North America at CMA’s Shipping 2014.


The Offshore Service Vessel Dynamic Positioning Authority

In a recent study, two groups were shown the same painting; one group was told it was painted in 1905, the other was told 2005. Not surprisingly, the first group reported liking the painting more than the second, proving the human brain almost automatically equates longevity with quality. 


Keppel Q1 Profits Dip Slightly

Maersk Intrepid was delivered by Keppel in Q1 2014 (Photo courtesy Maersk)

The Keppel Corporation released its limited unaudited results for the first quarter ending March31, 2014, reporting a 5% decrease in net profits to S$339 million compared to Q1 2013's S$357 million, though the company attributed the decline to one-off gains from the reversal of provision from the


New Technology for Subsea Pipe and Cable Tracking

Diver locates cable on East Africe Submarine Cable System using CT-1 cable tracker.jpg

Utility companies have been laying pipes and cables across the ocean floor for more than a century. Prior to the introduction of GPS, marking their location was difficult, and position information was often erroneous. It is extremely important to know where existing lines lie before undertaking


Damen: Contracts, Deliveries and Expansion

Photo: Damen

In the past weeks, Damen Marine Components (DMC) and Damen Anchor & Chain Factory (AKF), both part of Damen Shipyards Group, reported successes in their respective lines of business. DMC has completed several projects for the offshore, ports, defense and fishing markets


ASL Marine’s FY2013 Earnings Surge 40%

   Group revenue increased 19.0% to S$465.4 million due to higher contributions from shipbuilding, shipchartering and engineering segments  Gross profit margin improved across all business segments, taking gross profit 47.0% higher to S$83.6 million


IBIA Welcomes Early IMO Fuel Availability Study

Peter Hall

The International Bunker Industry Association (IBIA) supports the UK government’s call for the International Maritime Organization (IMO) to bring forward its review of the availability of 0.50% sulphur fuel. As more and more locations declare ECA requirements


Bunker Industry Supports 2015 Fuel Availability Review

The International Bunker Industry Association (IBIA) says it supports the UK government’s call for the International Maritime Organization (IMO) to bring forward its review of the availability of 0.50% sulphur fuel. As more and more locations declare ECA requirements


Jotun Reports Earnings Increase

In the first eight months of 2013, the Jotun Group reported sales of paint and powder coatings of NOK 8 174 million. This is an increase from NOK 7 686 million in the same period last year. The increase of 6% is in particular driven by larger sales in Middle East and Central Asia


UK Club Best in Intercargo Port State Control Benchmarking Study

Image courtesy of UK Club/Intercargo

Bulk carriers entered in the UK Club have the lowest number of Port State Control deficiencies when inspected according to the latest edition of “Benchmarking Bulk Carriers” published by Intercargo, and reported in the UK Club''s news.


NOL Reports $20m 3Q Profit

Ng Yat Chung, CEO of NOL Group

NOL Group reported net profits of $20 million for the third quarter of 2013, and year-to-date net profits of $61 million. The Group posted year-to-date Core EBIT improvement of 33% or $42 million, from a $127 million deficit in the same period last year.


Top Guns Shuffle at Carnival Corp.

Alan Buckelew: Photo courtesy of Carnival Corp

Alan Buckelew, currently the president and CEO of Princess Cruises, is being appointed to the newly created role of Chief Operations Officer of Carnival Corporation & plc effective December 1, 2013, reporting to President and CEO Arnold Donald


First Photo of China's Carrier Battle Group

Liaoning battle group: Photo courtesy of PLA(N)

The Chinese Navy has released the first photographs of what many military observers believe is the 'Liaoning' aircraft carrier battle group reports Xinhua. The photo (reproduced here) shows the Liaoning sailing in company with several battleships


China COSCO Turns its Financial Ship Around in 2013

Image courtesy of China COSCO

China COSCO Holdings Co. Ltd, the country's largest shipper, indicates a profit turnaround in 2013 after suffering heavy losses for two consecutive years, reports Xinhau. According to COSCO's earlier, 2013, financial report, the Shanghai-listed company made cutting operational costs a major


 
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