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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 $


Sinwa Reports 22% Increase in Q2 Earnings

Bruce Rann (Photo: Sinwa)

SINWA announced financial results for its 2nd quarter ended June 30, 2015. The group reported a 7.4 percent year-on-year increase in total revenue to S$40.8 million for 2Q2015. This was due to the growth in customer base and increased sales volume from existing customers for the marine and offshore supply business. Gross profit also increased by 7.7 percent year-on-year to S$9.7 million, in line with revenue growth with gross profit margin remaining relatively constant at 23.8 percent


MISC Bhd: Revenue Up

Puteri Firus, LNG Shipping. Photo: MISC Berhad

 Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015 full year financials when compared to 2014.   The liquefied natural gas (LNG) shipper said the higher earnings compared


Dramatic Turnaround for Hanjin Shipping in 2015

Photo: Hanjin Shipping

 The Korean shipping giant Hanjin Shipping  improved its financial result in 2015 and came back to profit trajectory.    It reported a $6m net profit in 2015 from a $396m loss the previous year and said it expects cost-saving measures to help it weather a tough 2016.  


APM Terminals Pipavav Project Profit

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) is part of an international network operated by APM Terminals BV

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) Oct-Dec 15 Net Profit at INR 533 million and Income from Operations at INR 1,521 million   January 28, 2016: APM Terminals Pipavav (Gujarat Pipavav Port Ltd), operating one of western India’s gateway ports


Stolt-Nielsen Profits Dip

Photo Stolt Tankers

Stolt-Nielsen Limited (Oslo Børs: SNI) today reported unaudited results for the fourth quarter ended November 30, 2015. Net profit attributable to shareholders in the fourth quarter was $21.4 million, with revenue of $494.6 million, compared with a net profit of $30


Navios Maritime Posts 4Q Profit

Photo: Navios Maritime Midstream Partners LP

 Navios Maritime Midstream Partners LP (NAP) on Wednesday reported fourth-quarter profit of $9.1 million. On a per-share basis, the company said it had profit of 44 cents.   The operator of contracted crude oil tankers posted revenue of $25.8 million in the period


Norfolk Intermodal Volume Falls

Photo: Norfolk Southern Railway

 Norfolk Southern Railway has announced disappointing financial results, and a cost-cutting plan that could eliminate two thousand jobs over the next four years.   Norfolk has assured shareholders that despite weak carload volume and tumbling intermodal traffic producing a double-digit


Wartsila Projects 2016 Profit Growth

Finnish industrial engine maker Wartsila reported higher quarterly earnings on Wednesday and forecast improved margins this year, hoping growth in services would offset sluggish demand for ship technology. The company said it expected 2016 sales to be at worst unchanged to five percent higher


Canadian National Rides High in Intermodal Growth

Image: Canadian National Railway

 The Montreal-based Canadian National Railway (CN) reported a higher fourth-quarter profit and raised its dividend, bucking a weak trend among major North American railroads.   However, it has given an uncertain but far rosier outlooks for 2016 than most of its North American


Keppel Profits Fall

Image: Keppel Offshore & Marine

 Singapore-based rig builder Keppel Offshore & Marine saw profits fall for last year along with revenues. It also revealed work had slowed on rigs being built for Sete Brasil with the Brazilian company not making payments in over a year.  


ClassNK: New Software System for Container Carriers

(PRESS RELEASE) ClassNK released its new structural design support system PrimeShip-HULL for Container Carriers to correspond with its latest rule amendments. To promote container carrier safety, ClassNK released amendments to its Rules and Guidance for the Survey and Construction of Steel


Vattenfall: Subsidy-free Offshore Wind by 2025

Sweden's Vattenfall expects to be able to build offshore wind power projects, one of the most expensive sources of renewable energy, without subsidies by the middle of the next decade, a senior company official said on Thursday. The state-owned utility plans to boost its wind power portfolio in


UK Marine Industry Continues Growth

File image: UK Flag

UK marine industry grows for fourth consecutive year; new figures released at the London Boat Show 2016   The U.K. leisure, superyacht and small commercial marine industry continue to grow, according to new statistics published today by British Marine at the London Boat Show 2016.  


Shanghai Port Profit Falls; First Drop in Four Years

Shanghai International Port Group Co Ltd, the operator of the world's busiest container port, posted a 4 percent fall in its 2015 preliminary net profit, marking the first decline since 2011 as China's economy slows. Shanghai Port, whose container throughput totalled 36


NORDEN Sells Capesize Vessel

Photo: Dennis Schnell, Bulldog and Partners

NORDEN announced it has agreed to sell Nord Power, a 176,000 tdw Capesize dry cargo vessel built in 2005. The ship will be delivered to its new owners at the beginning of 2016   NORDEN said the sale will entail an accounting loss of $12 million


Freight: Very Close to the End of the Road

Pic: Freight Investor Services

 In 1812, Russia beat back the advance of Napoleon’s army. On 18 December 2015 there is a similar tone of seasonal retreat, with most hopes pinned on the New Year. Shame there’s no-one around to write a symphony about it.  






 
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