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.
Singapore Shipping Corporation(SSC)'s net profit increased 7.8 per cent to US$9.6 million for the financial year ended March 31, 2016, compared to the previous year. Revenue rose 29.4 per cent to US$44.9 million, compared with the same period a year earlier. Singapore-listed SSC said three vessels are due for drydocking in financial year 2017 and the group expects earnings from the shipowing segment to remain stable.
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
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
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'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
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
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 $
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 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
The last two years have marked a new high for the Indian Maritime sector, including the Ports as the Ministry of Shipping is keen to develop the Indian Ports to international standards both in terms of efficiency and infrastructure.
Korean Hanjin Shipping's filing for receivership reflects an unsustainable supply-demand imbalance in container shipping, Fitch Ratings says. "We expect more defaults and M&A activity in the short and medium term but these will only restore equilibrium and boost
Despite many adversities for the maritime sector over the last year, seaborne perishable reefer trade increased in 2015 – and is forecast to grow further still in 2016. By 2020, seaborne reefer cargo will reach a staggering 120 million tonnes – increasing by an
American Maritime Safety recognized Foss Maritime's efforts in building and maintaining a strong culture of safety by awarding the company the American Maritime Safety Award for the implementation and management of zero-tolerance drug and alcohol policy.
SBM Offshore's first-half results lagged analysts' expectations on Wednesday as challenging conditions persisted in the oil industry and the Dutch oil services company announced an additional 250 job cuts. It said it did not expect a full recovery in its business until 2018
Net profit below forecasts, operating figure above; group hit by low freight rates and low oil prices. A.P. Moller-Maersk's progress in cutting costs reassured investors on Friday after the Danish shipping and oil giant reported a sharp decline in quarterly profit and its new chief executive
Danish shipping conglomerate A.P. Moeller-Maersk A/S has reported a plunge in profits in the second quarter in the face of tough market conditions. Maersk's quarterly net profit dropped 89 per cent to $118m compared with a year earlier
APM Terminals Pipavav’s (Gujarat Pipavav Port Ltd) today posted a 60 per cent rise in standalone net profit to INR 59.75 crore for the first quarter ended June 30, 2016 on the back of lower expenses. The company had posted a net profit after tax of INR 37
National Shipping Company of Saudi Arabia (Bahri) said on Sunday that a subsidiary had secured $133.2 million in Islamic financing to purchase five chemical tankers. The funding will be provided to National Chemical Carriers by Arab Petroleum Investments Corporation and BNP Paribas in the form
Maersk Drilling delivered a profit of USD 164m (USD 218m) in the second quarter of 2016. The result is positively impacted by a strong operational performance with an average uptime of 98% and savings on operating costs, however partly offset by more idle days
DP World, one of the world's largest port operators, reported a 50 percent leap in net profit for the first half of this year on Thursday, helped by the acquisitions of the Dubai's Jebel Ali Free Zone and Canada's Fairview Terminal. The company made a profit attributable to shareholders of $608
Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects demand for commodities to pick up this year. Africa's biggest shipping group, which is present in 37 countries worldwide
Norway-based owner and operator of floating LNG import terminals, Höegh LNG reported a second quarter profit after tax of US$3.5 million, down from $6.3 million in the first quarter 2016. The company’s profit after tax was also down in comparison to the
Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities for long routes the petrochemical market. The gas carrier owner reported profit before and after tax of minus $ 5
Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half, down from the year-earlier profit of 2 billion yuan, reports Nikkei Asian Review.