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Profit Increase

COSCO Pacific Reports Profit Increase

COSCO Pacific Ltd. reported its net profit rose 3.7 percent in 1999 from a year earlier to $134.08 million and added that it would step up investment in 2000. The company, an indirect unit of China's largest shipping firm China Ocean Shipping (Group) Co., engages mainly in container leasing and container terminal operation. Managing director Shi Qin said the listed firm planned to spend about $100 million to $110 million to buy containers in 2000 to match the rise in demand caused by global economic growth. The sum almost doubles the $57 million the firm spent in buying containers in 1999, when the size of its container fleet dropped 1.0 percent to 500,899 teu.


COSCO (Singapore) Presents Q1 2012 Report

COSCO reports profits from its ship repair, conversion, & engineering projects cushioned shipbuilding losses. Highlights: Group achieved net profit attributable to equity holders of $27.6m on turnover of $975.3m against the backdrop of a difficult business environment in Q2 2012. Turnover from shipyard operations decreased 2.2% to $960.8m due mainly to lower revenue contributions from ship building projects


Singapore Offshore Firm Rides Crest of 2013 Financial Wave

Else-Marie OSV: Photo CCL credit Marc Ryckaert

Singapore's Swiber Holdings, a construction and support services provider to the offshore oil and gas industry, reported that it has achieved record revenue and net profit for the second consecutive year-running for the full year ended December 31, 2013. Revenue rose 11.2% to hit US$1.1 billion from US$952.2 million for the full year ended December 31, 2012. The Group’s topline was driven by a 75.3% surge in sales in the South East Asia segment to US$780.8 million from US$445


Kvaerner Masa-Yards Releases Financial Results

The Aker Kvaerner Group has published its results for period of January-September 2003. Kvaerner Masa-Yards Business Area produced for this period an EBITA and operating profit of EUR 73 million (575 MNOK) and a net sales of EUR 625 million (4.930 MNOK). Compared with the same period of 2002, net sales decreased by 20,0% and operating profit increased by 10,7%. "Kvaerner Masa-Yards' financial performance has been very satisfactory


Danish Shipping Profits Drop

Danish shipping's gross profits fell three percent on an annualized basis to $965 million in 1998, hit by falling freight rates and the economic downturn in the Far East, according to the national statistics office (DS). Turnover was put at $7.5 billion, a three percent increase from 1997, with gross profits accounting for 12.6 percent of the figure and time chartering earnings up. "An increase in shippers' container tonnage meant a rise in freight carried but this was not considerable


Seacon Holdings Releases Preliminary Results

Seacon Holdings recorded a profit before taxation of £996,449 for the year ending September 30, 2000, compared to a profit before taxation of £3,284,681 reported the previous year, of which £408,181 was related to the trading activities of the company and £2,876,500 to the sale of the London Steel Terminal. Seacon Shipping recorded a £40,000 contribution to operating profit for the financial year, having reported a loss of £205,000 in the previous year. Ship Operations


Jotun Sets Sales Record in '07

Jotun reported that high levels of activity worldwide in shipbuilding, oil and gas projects and a highly active construction industry in the Middle East made 2007 the company’s best year ever. In 2007, the Jotun Group had an operating income of more than $1.7b, which is $211m higher than for 2006. Jotun's profit  before tax was $151.4m. "Last year was an absolute high point for Jotun. We are extremely pleased to deliver the best sales and profits in Jotun's history


Hyundai Heavy Q1 Net Profit Up 21.16 %

Hyundai Heavy.bmp

Hyundai Heavy Industries, the world’s biggest shipbuilder, today reported first quarter net profit of KRW 903 billion, an increase of 21.16 percent year-on-year. Sales rose 16.92 percent to KRW 6.3 trillion won with operating profit up 10.99 percent to KRW 991.8 billion. Hyundai Heavy’s annual sales target for this year is KRW 26.9 trillion and new orders of USD 26.6 billion. The Company’s operating profits were buoyed by increased sales in the shipbuilding and


Despite Low Earnings, Litton Surpasses NYSE Forecasts

Military shipbuilder Litton Industries Inc. on Wednesday reported lower fiscal first-quarter earnings, but surpassed Wall Street forecasts due to strength in its recently refocused core operations. Litton, the largest builder of non-nuclear ships for the U.S. Navy, reported a net profit of $44.9 million, or $.97 per share, for the quarter ended Oct. 31, down from $49.9 million, or $1.07 a share, a year earlier. Analysts had expected earnings of $


Keppel Q4 Profit Up; 2014 Profit Beats Street

Keppel Corp's full-year profit up 2 pct at S$1.9 bln. Singapore's Keppel Corp Ltd said fourth-quarter net profit rose 6.1 percent to S$725.9 million ($544.8 million), while its full-year profit rose 2 percent and beat analysts' consensus. Keppel on Thursday posted a full-year profit of S$1.9 billion, beating the S$1.6 billion average estimate of 22 analysts polled by Thomson Reuters. The fourth-quarter profit was boosted by a 2


Kamarajar Port Posts 10.7% Growth, Plans Free Trade Warehousing Zone

Pic by Kamarajar Port Limited (KPL)

 Throughput at Ennore-based Kamarajar Port Ltd increased 10.6 per cent in 2014-15 to 30.25 million tonne as against 27.34 mt registered during the previous year.    The port has posted a 5 percent growth in pre-tax profit to Rs 421.47 ($70 million). Operating income was up 12


MOL President Reports Slack Performance

President, Koichi Muto

MOL President, President, Koichi Muto reported that the performance of the company was slack.   Muto reported, "I am sad to report that our business performance fell short, and we could not achieve our initial target of ¥70 billion in consolidated ordinary income


Wan Hai Profits Up

Pic: Wan Hai Lines

 Asian container operator Wan Hai Lines Ltd sees 2014 profit jump as revenue grows faster than costs.   The Taiwanese container carrier recorded a profit of TWD5.32 billion (USD170 million) for 2014, soaring 158% from a profit of TWD2.13 billion in 2013.  


COSCO China's Piraeus Bid Back on Track

Image: Piraeus Port Authority

 China Ocean Shipping (Group) Co will bid for a majority stake in Greece's port of Piraeus after the country's new socialist government apparently reversed course on its opposition to port privatization.   COSCO was one of five industry players


CMA CGM profits up 43%

Photo: CMA CGM

 French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth in volume and significantly reduced costs.   Consolidated operating revenue for the company increased by 5


CMA CGM to Add Ships, Pursue More Economies

Containership CMA CGM Marco Polo.JPG

CMA CGM, the world's third-largest container shipper, announced on Monday plans to order three giant vessels and said higher volumes and profit last year showed its focus on economies of scale was bearing fruit. Like market leader Maersk Line


Carnival Sails to Profit

Image:  Carnival Corporation & plc

 The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That compared with a loss of $20 million, or 3 cents per share, in the 2014 quarter


Cosco Bulk Shipping Losses Down in 2014

China Cosco said losses in its main dry bulk shipping business fell sharply in 2014 and its container shipping gross profit grew amid a still subdued global shipping market. The comments were made by the firm's chief financial officer, Tang Runjiang, at its results briefing in Beijing on Friday


China Cosco's Profit Up 54%

Pic: COSCO Container Lines Company Limited

 The Shanghai-and-Hong Kong-listed flagship unit of China Ocean Shipping Group, China Cosco Holdings Co Ltd says that its 2014 net profit went up 54 percent y/y at 362.5 million Yuan ($58.37 million), on government subsidies for scrapping old tonnage.  


Golden Ocean and Knightsbridge Complete Merger

Image courtesy of Golden Ocean

  The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company, which will be called Golden Ocean Group Limited


Singapore Shipping Line NOL a Takeover Target?

Image: Neptune Orient Lines Limited

 Singapore's Neptune Orient Lines (NOL) may be shaping up as a takeover candidate, a report in Bloomberg said.   The appeal of the shipping company that helped cement Singapore's status as a global trade hub has increased after it agreed to sell its logistics unit last month for US$1


Singamas Container: Profit Down in 2014, Bullish for 2015

Image: Singamas Container Holdings Limited

 The world’s second-largest container manufacturer Singamas Container reported 2014 net profit which is lower than the previous year, but is expecting a better 2015 bolstered by pent-up demand from shipping lines and the firm’s investment in a gateway province between China and


Robust Results from DP World

Chart

Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the twelve months ended 31 December 2014. Like-for-like1 revenue grew 11.3% and adjusted EBITDA increased 16


Cosco International Posts $46.3 mln Profit

Pic by Cosco International

 The shipping services arm of China Ocean Shipping, Cosco International reported its profit attributable to equity holders for the year ended 31 December 2014 rose 48.6% year-on-year to HK$359 million ($46.3 million).   Revenue, however, fell 18.5% to HK$7


DP World Profit, Margins Soar

Dubai's DP World, one of the world's largest port operators, posted an 11.8 percent rise in 2014 net profit as profit margins grew in all its regions, the company said on Thursday. The firm made a profit attributable to shareholders of $675 million compared with $604 million in the prior year






 
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