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Operating Results

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. EBITDA also improved significantly by 45% to €147.8 million. Although intense competition led to unsatisfactory rate levels, substantial cost cuts and a slight drop in the bunker consumption price were the main factors behind the positive net result. Bunker costs in the second quarter averaged $622/tonne, which was below last year’s figure ($694/tonne). However, the bunker price is currently still more than three times the level seen at the start of 2009, when it was approximately $200/tonne. The intense competition in the second quarter meant that, unlike last year, it was almost impossible to implement announced rate increases on the market. As a result, the average freight rate of $1,499/TEU was down on last year’s figure ($1,594/TEU). The transport volume, on the other hand, rose by 2.3% to 1.39 million TEU (previous year: 1.36 million TEU). Revenue came to €1.706 billion, compared with €1.794 billion in the same quarter last year.


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


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%)


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:


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


Bunkerers Aegean Report Strong Q2 Results

Bunkering scene: File photo

Aegean Marine Petroleum Network Inc. has announced its financial and operating results for the second quarter ended June 30th, 2014, outlined here as follows: Second Quarter Highlights Sales volumes of 2,659,620 metric tons. Gross profit of $84.5 million.


DRYSHIPS Financial & Operating Results for 2Q, 2014

  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


SEACOR Holdings Announces Q2 Results

SEACOR Holdings Inc. has announced its results for its second quarter ended June 30, 2014. For the quarter ended June 30, 2014, net income attributable to SEACOR Holdings Inc. was $21.1 million, or $0.98 per diluted share. For the six months ended June 30, 2014


SENER Operating Revenue up 7.6% in 2013

SENER professionals working in the Gaia sunshield Copy ESA

The SENER Engineering and Technology Group closed the 2013 financial year with an operating revenue of €1.218 billion, representing a growth of 7.6% on the previous year. The number of people working at SENER reached 5,570, an increase of 3.8%, and R&D investment was €71


Chinese Leaders Visit Yangzijiang Shipyard

Vice-premier of China’s state council, Ma Kai and Ren Yuanlin

Yangzijiang Shipbuilding Holdings Limited announced that yesterday was a “momentous” for the group, as senior Chinese officials paid visit to Yangzijiang’s shipyard and the group’s chairman received the Outstanding Entrepreneur Award by the Chinese Enterprises Association


Bunker Suppliers Aegean Continue Upswing in Q1 2014

Bunkering: File photo

Greece's Aegean Marine Petroleum Network Inc. has announced its financial and operating results for the first quarter ended March 31st, 2014. First Quarter Highlights Sales volumes of 2,705,823 metric tons. Gross profit of $82.9 million. Operating income of $15.2 million.


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


Wärtsilä Reports Healthy Ship Power Sector in Q1 2014

Engine control room: Image courtesy of Carnival

In its interim financial report January to March 2014 Wärtsilä notes healthy development in ship power and services offsetting challenges in power generation markets. Highlights of period January-March 2014 Order intake decreased 16% to EUR 1,142 million (1,352)


Wilh.Willhelmsen Holdings Report 2013 Profit Slide

Image courtesy of WWH

The Directors' report 2013 (extracted here) states that shipowners & technical services firm Wilh. Wilhelmsen Holding group (WWH) delivered lower results for 2013 when compared with a very strong 2012. The fallback in results was due to a 7% reduction in shipping volumes and substantial sales


Hapag-Lloyd Boosts Results, Volume in 2013

Hapag-Lloyds Chicago Express passing under Hamburgs Köhlbrandbrücke

Operating result improved by €41 million to €67.2 million / EBITDA increases by €54.6 million to €389.1 million / 4.6% more transport volume / persistently strong competition and high energy costs Hapag-Lloyd improved its result and transport volume in the previous financial


CIRCOR Names Vincent Sandoval President, Aerospace & Defense

Vincent Sandoval: Photo credit CIRCOR

Provider of valves and other highly engineered products for markets including oil & gas, power generation and aerospace & defense,  CIRCOR International, Inc., inform that Vincent Sandoval will join the Company as Group President—CIRCOR Aerospace & Defense effective March 19


SEACOR Holdings Earnings Dip

SEACOR Holdings Inc. has announced its results for its year and fourth quarter ended December 31, 2013. Highlights •    For the year ended December 31, 2013, net income attributable to SEACOR Holdings Inc. from continuing operations was $47.2 million, or $2


Frontline Expects Improved Results after Losses Narrow

Net loss $13 mln in Q4 vs forecast $18 mln loss; Repayment of debt dependent on improving tanker rates. Oil tanker firm Frontline expects its operating result in the first quarter to improve on the previous quarter due to a recent increase in rates as it reported fourth-quarter results slightly






 
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