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 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
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
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
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
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 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.
K-Sea Transportation Partners L.P. announced operating results for the first fiscal quarter ended September 30, 2006. The Company also announced that its distribution to unitholders for the first quarter will increase by $0.02, or 3.2%, to $0.64 per unit, or $2.56 per unit annualized. This is the sixth consecutive quarter of increased distributions, and the eighth such increase since the Company’s IPO in January 2004. The distribution will be payable on November 15
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'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
Drybulk and petroleum cargo transportation company, DryShips, & through its majority owned subsidiary, Ocean Rig, of offshore deepwater drilling services, announce its unaudited financial and operating results for the third quarter ended September 30, 2013.
Great Lakes Dredge and Dock Corp. reports third quarter 2013 results. Dredging delivers a strong quarter with the backlog at a record high of $606-Million. The company says it is evaluating strategic alternatives for its demolition business. Q3 Company highlights in total
Following on from the second quarter, Hapag-Lloyd once again generated a profit in the third quarter of the current financial year, primarily as a result of substantial cost reductions. Between July and September 2013, the group recorded a profit of €16
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced its unaudited financial and operating results for the three and the nine months ended September 30, 2013. Adjusted Net income for the third quarter of 2013 was $2
Pingtan Marine Enterprise Ltd. an integrated marine services company providing territorial sea fishing and dredging services in the People's Republic of China (PRC), has expanded its fleet, signing of a 'Master Agreement' to purchase 46 fishing trawlers in a transaction totaling approximately $410
Stable Development in the fist half of 2013 Second Quarter Highlights: • Order intake decreased 11% to EUR 1,071 million (1,198) • Net sales increased 5% to EUR 1,152 million (1,099) • Book-to-bill 0.93 (1.09) • Operating result EUR 111 million, or 9
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
In accordance with the Swedish Securities Market Act and the Swedish Financial Instruments Trading Act, Concordia Maritime published its interim report for 2013. Highlights are as follows: Interim Report 1 January – 30 June 2013 •Positive view of the product tanker market
In their half year 2013 report the Boskalis Board of Management expects that, barring unforeseen circumstances, net profit for the 2013 financial year will be at least EUR 330 million, including the book gain of approximately EUR 50 million on the sale of the 40% stake in Archirodon that
Greece headquartered Aegean Marine Petroleum Network Inc. announce financial and operating results for the second quarter ended June 30, 2013. Second Quarter Highlights Sales volumes of 2,693,151 metric tons. Gross profit of $69.5 million. Operating income of $12.7 million.
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the second quarter and first half of 2013. Net profit for the second quarter of 2013 was $0.8 million compared to a loss of $4
Stolt-Nielsen Limited reported unaudited results for the third quarter ended August 31, 2013. Net profit attributable to shareholders in the third quarter was $21.8 million, with revenue of $521.8 million, compared with $25.7 million, with revenue of $533
"Our operations developed in line with our expectations during the third quarter. Net sales grew by 11% to EUR 1,209 million and profitability was 11.4%. With better visibility on net sales development, we specify our sales growth guidance to 0-5%
NOL Group reported net profits of $20 million for the third quarter of 2013, and year-to-date net profits of $61 million. The Group posted year-to-date Core EBIT improvement of 33% or $42 million, from a $127 million deficit in the same period last year.
International contractor of offshore deepwater drilling services, Ocean Rig, announce its unaudited financial and operating results for the third quarter ended September 30, 2013, reporting a net loss of $21.5 million, or $0.16 basic and diluted loss per share