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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.


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.  


Foster Wheeler 2Q, 2014 Results

Table

  Foster Wheeler AG (Nasdaq: FWLT) today reported income from continuing operations for the second quarter of 2014 of $85.6 million, or $0.85 per diluted share, compared with $68.3 million, or $0.68 per diluted share, in the second quarter of 2013. Income from continuing operations in both quarterly periods was impacted by net asbestos-related gains and provisions, as detailed in an attached table. Excluding such items from both quarterly periods


Oil Inventories Higher, Crude Demand Lower: PIRA

Oil tanks: File image

NYC-based PIRA Energy Group reports that oil inventories are higher and crude demand is lower. In the U.S., stock surplus to last year is roughly flat. In Japan, crude stocks draw amid peak run rates. Specifically, PIRA’s analysis of the oil market fundamentals has revealed the following:


Report Examines Dutch Banks’ Approach to Shipbreaking

Photo courtesy of the NGO Shipbreaking Platform

Report explains how Dutch banking groups deal with risks involved with shipbreaking The NGO Shipbreaking Platform, a global coalition of human rights, labor rights and environmental organizations working to prevent dangerous and dirty ship recycling practices worldwide


Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle. Swiss pump maker Sulzer, in which Renova Group has a 33 percent stake


Ending US Oil Export Ban Would Not Raise Gasoline Prices - Study

Ending a 40-year old ban on U.S. crude oil exports would not raise domestic gasoline prices because it would put more petroleum onto global markets, where fuel prices are primarily set, a study by The Aspen Institute said on Tuesday. As the U.S


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


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


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


BP Reports Q1 Results; Increases Dividend

BP Group Chief Executive Bob Dudley

  BP today announced its financial results for the first quarter of 2014. Underlying replacement cost profit1 for the quarter was $3.2 billion, compared with $2.8 billion for the previous quarter and $4.2 billion for the first quarter of 2013. Operating cash flow in the quarter was $8


Azrieli Group in talks to sell energy firm Sonol

  Israeli property Developer Azrieli Group Said on Sunday it is in Talks to Sell Energy Company Sonol Israel to S. Shlomo Holdings Holding Company. Sonol is fully owned by Azrieli Subsidiary Granite Hacarmel . Refined Petroleum Products It distributes and Operates a


Samudra Containership Rationalisation Hits Revenues

Samudra containership: Image courtesy of Samudra

Diversified Singapore-based containership owners Samudra Group reports registered revenue of USD 96.9 million for the second quarter ended 30 June 2014, a 7.6% decline from USD 104.8 million in the previous corresponding quarter, which they say is in line with the Group’s rationalisation of


Leighton HY14 net margin Up to 2.7%

The Leighton Group reported an increase in total revenue

  Leighton Holdings announced its results for the six months to 30 June 2014.   * Total revenue of $11.9 billion, up on HY13 * EBITDAiii of $843 million. Comparable EBITDAiv of $945 million, up on HY13 * NPAT of $291 million. Underlying NPAT of $319 million, up on HY13


Allianz Reports Strong 2Q 2014 Results

Michael Diekmann “In view of these good half-year results, we maintain our outlook for the operating profit for 2014 of 10 billion euros, plus or minus 500 million euros, but expect the upper end of the target range to be i

  Allianz Group achieved strong results in the second quarter of 2014. Total quarterly revenues increased 10.0 percent to 29.46 (second quarter of 2013: 26.78) billion euros. Operating profit climbed 17.1 percent to 2.77 (2.37) billion euros


ST Engineering 2Q 2014 Unaudited Results

Mr TAN Pheng Hock  President & CEO  Singapore Technologies Engineering Ltd

  Singapore Technologies Engineering Ltd (ST Engineering) announced today that the Group posted quarterly revenue of $1.59b for the second quarter ended 30 June 2014 (2Q2014), which is comparable with the prior year’s revenue in the same period.


TUI AG Eyes IPO, Sale of Hapag-Lloyd

TUI AG is still open to a sale or flotation of its stake in container shipping company Hapag-Lloyd , its management said on Thursday. "Whichever comes first at a decent price, we will go for it," Chief Financial Officer Horst Baier told analysts after the group reported third-quarter


St Engineering's Land Systems Arm Inject Capital in Brazil

  Singapore Technologies Engineering Ltd (ST Engineering) announced today that SDG Kinetics Pte. Ltd. (SDGK) and Autonomous Technology Pte Ltd (ATPL), wholly owned subsidiaries of its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), have injected BRL5,499






 
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