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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


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


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


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.


Dockwise Plans Oslo Listing

According to Dow Jones Dockwise Ltd. will launch an initial public offering on the Oslo Stock Exchange by Oct. 12. The IPO will give Dockwise shareholders 3i Group (III.LN) and Frontline Ltd. ( FRO.LN) the opportunity to sell part of their combined 47% stake in the company, the chief executive said. The company's management owns a 6% stake in Dockwise, and the remaining 47% of the company is traded in the Norwegian over-the-counter market.


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


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%)


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


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.


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


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


DryShips & Subsidiary Ocean Rig Report Rough & Smooth Q4 2013

Image courtesy of Ocean Rig

Greek-based drybulk & tankship owners DryShips and subsidiary offshore deepwater drilling service provider Ocean Rig announce unaudited financial and operating results for the fourth quarter, year ended 31, December 2013. DryShips Fourth Quarter 2013 Financial Highlights


KNOT Offshore Partners' Fleet Almost Fully Utilized in Q4 2013

Knot shuttle tankship: Image courtesy of KNOT Offshore Partners

KNOT Offshore Partners reports net income of $7.9 million and operating income of $10.0 million for the fourth quarter of 2013, as compared to net income of $1.5 million and operating income of $5.7 million for the same period in the prior year


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


Petrobras Cuts Spending, Quarter Profits Fall 19%

Photo: Petrobras

By Jeb Blount, Reuters Brazil's state-run oil company Petrobras moved to check years of missed targets, soaring costs and rising debt by scaling back near-term investments and setting a limit on long-term growth. Petroleo Brasileiro SA, as Petrobras is formally known


Aegean Profitable in 2013 Despite Bunker Market Challenges

Bunkering: File photo CCL

Ship bunker suppliers Aegean Marine Petroleum Network release financial and operating results for the fourth quarter ended December 31st, 2013, registering a third consecutive profitable year. Quarterly & full year highlights Recorded sales volumes of 2,384


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


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


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


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


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


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)






 
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