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Net Profit

Mitsui: Revenue Up, Profits Down

Mitsui Engineering & Shipbuilding Co. reported that group net profit for the fiscal first half fell 6.3% from a year earlier to 2.51 billion yen despite a 6.6% rise in revenues to 199.64 billion yen. The shipbuilder cited falling product prices, stiffer competition and exchange losses as the primary culprits. In its consolidated earnings report, Mitsui Engineering posted a pretax profit of 2.31 billion yen in the six months to Sept. 30, down 52.3%, with net profit per share falling to 3.02 yen from 3.23 yen a year earlier. For the full year to March 31, Mitsui Engineering forecasts a net profit of 6 billion yen and a pretax profit of 16 billion yen on revenues of 480 billion yen.


SHI Profits Eroded by One-Off Costs

Samsung Heavy Industries (HII) Q4 3012 net profit fell 59% due to costs related to an oil-leakage accident in 2007. Net profit for the three months ended December 31 fell to KRW73 billion from KRW176.5 billion a year earlier, reports Fox Business News; however, fourth-quarter sales and operating profit rose on orders for higher-end ships. Full-year 2012 net profit fell 6.4% to KRW796.4 billion. Operating profit climbed 11% to KRW1.206 trillion and sales rose 8.2% to KRW14.49 trillion.


Vopak Reports '99 Net Down, Eyes Improvement

Dutch shipping and tank storage firm Vopak NV reported that its ordinary net profit fell by 5.3 percent in 1999, but said it expected improvements this year. Net profit from ordinary activities fell to $163.2 million, from $174.4 million in 1998, roughly in line with analysts' forecasts and earlier indications from the company of a five to 10 percent drop. The weakness was largely due to a drop in earnings at Tanker Shipping as excess capacity pressured rates


Adsteam Considers Expansion

According to an Australian Associated Press report, maritime services company Adsteam Marine Ltd is considering expanding operations into Asia and mainland Europe as part of its growth strategy. The firm was now considering expanding its existing markets as well as looking at new acquisitions since restructuring the business over the last two and a half years, according to the report. Adsteam - which operates more than 200 tugboats, barges


IHC Caland Profit Up

Dutch IHC Caland NV said on Monday preliminary net profit rose eight percent in 2000, and reflected on a "difficult and often frustrating year." Net profits are expected to be 75 million euros ($69.4 million), compared with 69.5 million in 1999. The figure came in at the low end of analysts expectations, but at exactly the level the company predicted in September. Company watchers had forecast the company's net profits would be 75.3-77.2 million euros, with a consensus at 76.3 million euros


Steamship Reports First Nine-Months Results

A/S Steamship Co TORM (TORM), a shipping company specializing in the worldwide commercial operation of a fleet of tankers and bulk carriers, reported its results for the first nine months of 2003. Net profit for the third quarter 2003 was DKK 232 million ($35 million), including an unrealized gain on the Company's investment in Dampskibsselskabet "NORDEN" A/S; and net profit for the first nine months of 2003 was DKK 468 million ($70 million), including an unrealized gain on the NORDEN shares


Vopak To Sell Tankers

Dutch chemicals storage and shipping company Koninklijke Vopak reported a five percent rise in 2000 net profit, driven by its North American distribution business, and forecast a sharper rise in the current year. Vopak, the world leader in tank storage, said net profits after payouts of preferential share dividends rose to 160.1 million euros ($148.9 million) in 2000 from 152.2 million euros in the previous year. Vopak said profits after goodwill write-offs were likely to rise by eight to 10


Boskalis 2012 Revenue Up, Profits Slightly Down

Royal Boskalis Westminster N.V. (Boskalis) publishes theirl financial report for 2012. Highlights of 2012 ·         Record revenue of EUR 3.1 billion ·         Record order book of EUR 4.1 billion ·         Net profit of EUR 250 million ·         EBITDA of EUR 568 million


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 sale of a power barge and write-back of tax provision made by Keppel Land in Q1 2013. Earnings per share also fell, now 18.7 cents, down 6% from 1Q 2013's 19


Maersk's Shipping Profit Doubles on Europe-Asia Demand

Maersk Contianerized.jpg

A.P. Moller-Maersk Q1 net profit $1.207 bln vs $1.072 forecast; Raises full-year outlook. Profit at A.P. Moller-Maersk's container shipping business, a bellwether for global trade, more than doubled in the first quarter as demand on the world's busiest route between Asia and Europe picked up and it cut costs. That helped the Danish shipping and oil group beat forecasts for net profit on Wednesday and prompted the company to raise its outlook for the full year.


Sewol Ferry Major Shareholder Lodges Receivership Application

Sewal capsized: Photo Korea CG

The major shareholder of the South Korean operator of the ferry on which hundreds of high school students drowned in April has applied for receivership, a court said on Monday. Chonhaiji Co Ltd, a ship block maker and the major shareholder of ferry operator Chonghaejin Marine Company


Port of Tallinn invests in Paldiski South Harbor

Port of Tallinn

  The council of Port of Tallinn approved an investment of 1.8 million euros for deepening the aquatory of Paldiski South Harbor in order to enable the harbour to accept bigger vessels with total tonnage up to 75,000 GT. With the help of the investment aimed to increase the competitiveness


Shipping loan losses hit Norwegian bank DNB's earnings

Q2 net profit NOK 4.65 bln vs f'cast NOK 4.77 bln; loan losses NOK 554 mln vs fcast NOK 398 mln. Bank on schedule to fulfill capital requirements, but shares down 4.6 percent, Swedish bank shares lower. Higher-than-expected loan losses in the shipping sector ate into DNB's second-quarter


Shipbuilders Vard Report Financial Fair Sailing

OSV Rendering courtesy of Vard

Designers and shipbuilders of offshore and specialised vessels, Vard Holdings, has announced its financial results for the second quarter of financial year 2014 (“2Q2014”), and first half ended 30 June 2014 (“1H2014”). Highlights are as follows:


NIS Q1 Net Profit Up 18 %

  Serbian oil company NIS , majority owned by Gazprom Neft, reported an 18 percent rise in net profit in the first quarter of 2014 on higher sales and improved production efficiency. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 15.5 billion dinars from 8


Diamond Offshore profit falls as rig demand softens

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a 17 percent drop in quarterly profit as demand fell for rigs used in deep water drilling. Contract drillers face a tough year as vessels ordered during boom times are delivered just as energy


China Merchants, Hastings, Lease Australian Coal Port

Image courtesy of Port of Newcastle

Hastings Funds Management and China Merchants Group have won a state government auction for a 98-year lease on Australia's Port of Newcastle, the world's biggest coal export terminal, paying a higher-than-expected A$1.75 billion ($1.6 billion).


Sembcorp Marine Results Drags Singapore Index Lower

Image courtesy of Sembcorp

Singapore shares edged lower on Monday, dragged down by losses in Sembcorp Marine Ltd which hit a six-week low after posting lower-than-expected first-quarter earnings. The benchmark Straits Times Index was down 0.2 percent at 3,245.69 by 0506 GMT


Ezion Reports 62% Increase in Q1 2014 Profits

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  Ezion Holdings Limited (“Ezion” and together with its subsidiaries the “Group”), a leading Singapore headquartered, Liftboat developer, owner and operator as well as offshore logistics support service provider


NZ's Trustpower Ltd Year Profit Down 75

  New Zealand power company Trustpower Ltd's full-year profit fell 7 percent because of lower generation production and margins, as well as a decline in customers, the company reported on Friday. Trustpower said net profit after tax was NZ$115.12 million ($99


Omani Power Firms Set To Double Profits After Share Offer

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  Oman's Al Batinah Power Co and Al Suwadi Power Co, which launched twin initial public share offers on Sunday and are owned by the same consortium, will double their profits from 2014 to 2018 as they pay off start-up costs, a top executive said.


Singapore's NOL Q1 Net Loss Narrows

Container shipper Neptune Orient Lines Ltd posted a net loss of $97.9 million for the quarter ended April 4, a narrower loss from the previous quarter. NOL, in which Singapore's state investor Temasek Holdings has a 67 percent stake, recorded a net profit of $75


Essar Ports Net Profit up 16% to Rs. 383.7 cr for FY 13-14

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  Essar Ports Ltd. (Essar Ports), part of Essar and one of the largest port companies of India, today announced its audited results for the financial year 2013-13 and for quarter ended March 2014. Declaring its Consolidated Results it highlighted the following :


Petronet achieves highest turnover at Rs 37,748 crores

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  Petronet LNG Ltd, the nation's biggest importer of gas, reported yesterday its highest turnover at Rs 37,748 crores for the year ended March 31, 2014 and net profit at Rs 712 crores.  During the year the Dahej terminal processed 489 TBTUs depicting a capacity utilisation of 96%


Sao Martinho's Sugar-Ethanol Profits Drop 50%

Net profit at Sao Martinho SA , one of Brazil's biggest sugar and ethanol groups, was 6.4 million reais ($2.9 million) in the quarter ended March 31, down 50 percent from the year-earlier period, the company said in a filing on Monday night.






 
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