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Operating Results

Hapag-Lloyd Generates Positive Result

Hapag-Lloyd generated an operating result (adjusted EBIT) of EUR 36.7 million in the third quarter 2011. This took the operating result for the first nine months of the current financial year to EUR 78.8 million. EBITDA came to approx. EUR 275 million in the first nine month of 2011. Group earnings after interest and taxes (EAT) were also positive in the third quarter at EUR 9.6 million. This made the third quarter the best in the current financial year to date. The positive result was also achieved by consistently pursuing and optimising the cost savings programme that Hapag-Lloyd initiated in 2009. “We performed very well in a demanding market environment. Hapag-Lloyd's operating result is well above the industry average,” said Michael Behrendt, Chairman of the Executive Board of Hapag-Lloyd AG. Economic uncertainty, turbulent foreign exchange markets, tough competition and high bunker prices are currently the defining features of the market and industry environment. “Given the challenging conditions that all liner shipping companies are still facing, our operating result is satisfactory and a clear sign of our strength.” In the first nine months, Hapag-Lloyd generated positive cash flow from operating activities of EUR 186.8 million (Q3: EUR 41.0 million). Hapag-Lloyd's average freight rate in the first nine months of 2011 was USD 1,540 per TEU, on par with last year's figure of USD 1,547 per TEU. Transport volumes rose by 3.9% to 3


Hapag-Lloyd Reports Second Quarter Profits

Group profit of €20.9 million in Q2 / Operating result more than doubled compared to last year / Transport volume increases by 2.3% Hapag-Lloyd returned to profitability in the second quarter of the current financial year, reporting a Group profit of €20.9 million for the months April to June 2013 (Q2 2012: -€7.3 million). The operating result of €66.7 million was more than twice as high as last year’s figure of €30.8 million


EXMAR NV Offers Trading Update

During the 3rd quarter an operating result (EBIT) of $7.1m was recorded by the LPG fleet, $16.5m for the 3rd quarter 2006, including $4.0m non-recurrent items. The EBIT for the first nine months of the current year amounts to $21.5m, compared to $49.4m for the first nine months of 2006, including $14.0m non recurrent items. Although freights remained firm, the Midsize segment suffered from increased idle time. Firming Black Sea Ammonia prices versus ample stocks in USA left no room for


Wärtsilä Corp. Interim Report

Ole Johansson, President and CEO said, "The third quarter was strong for Wärtsilä at all levels, as net sales developed according to plan, profitability was strong, and cash flow from operating activities was at an all time high level. As a result of this positive development we now expect our profitability to exceed 10% for the year 2010. The improvements in Wärtsilä's market environment that started in the second quarter have continued


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


Concordia Maritime 1H 2014 Interim Report

Stena Premium: Photo courtesy of Concordia Maritime

Swedish tankship owners Concordia Maritime inform of positive results in the first half of 2014 after the sale of shares in jointly-controlled entities, Stena Poseidon and Palva. Highlights New contract with global oil and gas company in line with new employment strategy Seasonal market decline stronger than expected profit expected for full year Total income, MSEK: 301,4 (246,7) EBITDA, MSEK: 138,2 (90,0) Operating result, MSEK: 68,1 (18,2)


Hornbeck Offshore Lowers Guidance for 4Q

Hornbeck Offshore Services, Inc. announced after an initial review of operating results, it has revised its EBITDA and diluted earnings per share (EPS) guidance for the fourth quarter of 2006 and calendar 2006. The company now expects EBITDA for the fourth quarter of 2006 to range between $33.0 million and $34.0 million, down from $39.0 million to $41.0 million. Please refer to the attached data table and Note A for a definition and reconciliation of EBITDA guidance to its most directly


Spain Consolidation Creates Massive Shipbuilder

Spain's state holding company Sepi said it had created the world's 10th largest shipbuilder with annual sales of around $1.25 billion. The group, which formally begins in October, will be formed from the merger of Spain's military shipbuilder Bazan with the civil yards including Astano, Cadiz and Manises. Its order book will be worth 638 billion pesetas, Sepi said in a statement. The merger is part of Sepi's plan to cut losses in the state-controlled industry and improve operating results by


ARCO Reports 1998 4Q, Full Year Results

ARCO reported a 1998 fourth quarter net loss of $794 million after a net charge of $864 million. The net charge reflects asset writedowns, restructuring costs and a tax refund. In the 1997 fourth quarter, ARCO earned $382 million. Before the special items, ARCO earned $70 million for the quarter as operating results continued to reflect the effects of weak commodity pricing. Compared to the same quarter in 1997, average crude oil prices declined $7 per barrel.


Good Profitability Noted in Wärtsilä H1 Interim Report

Wärtsilä 46DF Engine: Image courtesy of the manufacturers

Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2,424)
- Net sales increased 5% to EUR 2,144 million (2,034) 
Book-to-bill 1.07 (1.19) Operating result before non-recurring items EUR 212 million, or 9.9% of net sales (EUR 181 million or 8.9%)


Norwegian Shipowners See Challenges Ahead

Falling oil prices, heightened geopolitical tensions and sluggish, uncertain growth in the global economy are directly impacting the maritime industry, causing Norwegian shipowners to be less optimistic than last year regarding both turnover and profitability


Swedish Club Reports 'Healthy Growth'

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The Swedish Club reported a solid operating result to its board today, continuing a record of building on steady growth. 2014 was seen as a stable year, where the underwriting result outperformed the financial performance and the insurance products across the board returned a staunch to high


Steady Growth Reported by the Swedish Club

Courtesy The Swedish Club

  The Swedish Club reported a solid operating result to its board today, continuing a record of building on steady growth. 2014 was seen as a stable year, where the underwriting result outperformed the fi­nancial performance and the insurance products across the board returned a staunch


Boskalis Posts Record Profits

Peter Berdowski, CEO. Pic with compliments from Boskalis

  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


Dryships in the Red

DryShips Inc

DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and operating results for the fourth quarter ended December 31, 2014. Fourth Quarter 2014 Financial Highlights


Euroseas Reports Results FY & Q4 2014

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  Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period and full year ended December 31, 2014. Fourth Quarter 2014 Highlights:


NORECO's Revenue Dips in 3Q 2014

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  Norwegian Energy Company’s (Noreco) production in the third quarter of 2014 was basically unchanged from the previous quarter, significant impairments took down Noreco net results after tax to minus NOK 1 101 million. Revenues in the third quarter 2014 were NOK 296 million


DryShips Reports 3Q 2014 Results

Photo by DryShip

DryShips Inc. an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, of offshore deepwater drilling services, today announced its unaudited financial and operating results for the


New Cargo Hold Cleaning Solution from WSS

Wilhelmsen Ships Service (WSS) unveiled an upgraded cargo hold cleaning solution, combining cleaning agents and mobile equipment to help shipowners, operators and crews stay safe and compliant on a global basis. The kit includes everything the crew needs, it is easy to assemble and ready to use


Kirby Corp. Announces Record 3Q Results

Kirby CEO Joe Pyne (Photo: Greg Trauthwein)

Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability. Kirby Corporation announced record net earnings attributable to Kirby for the third quarter ended September 30


Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter highlights include Order intake increased 21% to €1,309 million (1,086)


Odyssey Marine Implements Management Changes

Mark D. Gordon

President Mark D. Gordon appointed CEO, Greg Stemm becomes chairman as the company prepares for several monetization events and shipwreck projects Odyssey Marine Exploration, Inc., an in the field of deep-ocean exploration, has implemented its planned management transitions that were announced


Russia's Shipping Major Reports Strong 1H 2014

Tankship: Photo SCF

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial and operating results for the six months ended 30 June 2014.   Highlights:


STEALTHGAS 2Q And 1H 2014 Results

STEALTHGAS VESSEL

  STEALTHGAS INC. a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, released today its unaudited financial and operating results for the second quarter and six months ended June 30, 2014. Second Quarter 2014 Results:


HHLA's Revenue & Earnings Rise

HHLA_robust performance

  *Container throughput in Hamburg up by 2.1 % *Container transport grows by 9.0 % *Improvements in revenue and operating result *HHLA confirms forecast In the first half of 2014, Hamburger Hafen und Logistik AG (HHLA) increased its revenue by 5.2 percent to € 595






 
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