Strong Results News

Cadeler A/S published its interim financial report for the first half of 2023 presenting a positive result exceeding the guidance projected for the fiscal year 2023. Revenue in the first six months of 2023 was EUR 68 million, which is an increase of 57% against the same period last year. Adjusted EBITDA for the first half of 2023 was EUR 44 million, which is a EUR 21 million increase compared to the same period last year. EBITDA for H1 2023 was EUR 42 million. Profit for the period is EUR 29 million, which is EUR 19 million higher than the same period in 2022.

Michael Hansen, Executive Vice President Energy & Infrastructure at Danish coatings manufacturer Hempel A/S, will succeed Lars Petersson as CEO of the company on October 15, 2022. Petersson leaves Hempel to take up the position of CEO of VELUX Group.Hansen joined Hempel in May 2017 as Chief Commercial Officer and has delivered remarkable results as a central driver of the global transformation in Hempel. Today, he is part of the Executive Group Management as Executive Vice President, Energy & Infrastructure.“Michael Hansen has extensive knowledge of Hempel, its markets and customers.

Teekay Offshore Partners L.P., a provider of offshore oil production and storage vessels for the offshore oil and gas industry, has changed its name.The company announced Tuesday its name has changed to Altera Infrastructure L.P. effective March 24, 2020. The move comes following the recent acquisition of the company by Brookfield Business Partners L.P.The group of entities comprising of the company's affiliates and subsidiaries (formerly referred to as Teekay Offshore) is rebranding to Altera Infrastructure…

German logistics and transportation company Hamburger Hafen und Logistik AG (HHLA) said that it has achieved targets for the year as the revenue and operating result (EBIT) increase with moderate increase in container throughput and significant rise in transport volume.The Group revenue increased by 6.8 percent to € 1.38 billion in the 2019 financial year (previous year: € 1.29 billion). The Group’s operating result (EBIT) of  € 222 million (previous year: € 204 million) grew by 8.8 percent.The listed Port Logistics subgroup said that In total, 7.6 million standard containers (TEU) were handled at HHLA’s container terminals in the 2019 financial year.

In one a dramatic U.S. shipbuilding and repair move it was announced today that The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management signed a definitive agreement to acquire and merge Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Oregon, and MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Virginia.The transaction, subject to customary closing conditions…

Singapore has been ranked the world's top maritime capital for the fourth consecutive time in the Leading Maritime Capitals of the World (LMC) report. The Leading Maritime Capitals report for 2019 is with fresh insight on which maritime metropolises provide the best support for companies in shipping and related services.Criteria include soft and hard infrastructure and access to world-class talent and services – all key components that maritime businesses need to thrive in their chosen locations.Singapore maintained its top position at the head of the 15 leading maritime capitals. Despite a somewhat weak trade cycle in traditional shipping and offshore oil and gas markets yet to recover…

German port operator Hamburger Hafen und Logistik AG (HHLA) increased its Group revenue by 3 percent to EUR 1.29 billion in the 2018 financial year (previous year: EUR 1.25 billion). The Group’s operating result (EBIT) of EUR 204 million (previous year: EUR 173 million) represents an increase of 18 percent.In total, 7.3 million standard containers (TEU) were handled at HHLA’s container terminals in the 2018 financial year. Compared to 7.2 million TEU in the previous year, this equates to an increase of 1.9 percent.Container throughput at the three container terminals in Hamburg remained at the high level achieved in the previous year, while throughput at the international HHLA container terminals in Odessa (Ukraine) and Tallinn (Estonia) increased.

CADMATIC reports strong growth and turnover figures for 2018: 29% growth resulting in record turnover of over $22.7m. During the same period, the company’s number of staff has increased to more than 140.With strong results also reported in 2017, the last two years have seen rapid growth at CADMATIC. Over the two-year period, its turnover has increased 45%, its number of personnel by 25% and the number of user organizations by 20%.In December 2018, the company headquarters in Turku, Finland moved to new premises across the Aurariver on Linnankatu 52.

Cosco Shipping Ports (CSP), one of the world’s largest container terminal operators, said despite the the US-China trade war, as it posted a 70.1 percent jump in adjusted profit for the first six months ended 30 June 2018."2018 is a year full of challenges. Sino-US trade frictions, the rise of trade protectionism, geopolitical uncertainties and the upward trend of interest rates have the potential to place serious pressure on the development of global trade. Despite all these uncertainties, the growth momentum of global economy in 2017 continued in the first half of 2018," said a statement from CSP.Driven by sustained economic growth…

SeaBird Exploration, a global provider of high end 2D, source and shallow water 2D/3D seismic services and associated products to the oil and gas industry, appointed Hans Petter Klohs as new CEO of the Company. The Board of Directors of the Company announced that The appointment takes effect as of 24 June 2018. Klohs has extensive senior executive management experience from Norwegian publicly listed entities in both oil service and oil & gas. Previous senior positions include serving as CFO and later as CEO in GC Rieber Shipping ASA for over 10 years, serving as CEO in Arrow Seismic ASA and Armada Seismic ASA, and acting as CFO in Rocksource ASA. Klohs intends to resign from his position as board member of the Company as a consequence of the appointment.

Li Ka-shing to retire after annual general meeting on May 10; will stay on as senior adviser to the group. Hong Kong's richest man, Li Ka-shing, announced his retirement as chairman of CK Hutchison Holdings Ltd on Friday, bringing to a close a rags-to-riches story that made him a hero in the freewheeling capitalist hub. Li, 89, will retire after the annual general meeting on May 10, the ports-to-telecoms conglomerate said in a filing to the Hong Kong bourse, passing the mantle to his eldest son Victor Li, who was named successor several years ago. While Hong Kong's adoration of Li Ka-shing and his story has waned somewhat in recent years, he is still stepping aside from one of Asia's most outward-looking empires, spanning more than 50 countries and 323,000 employees at last count.

MOL Group announced its financial results for 2017. MOL increased its EBITDA by 14% comfortably outperforming its 2017 target on the back of a strong financial and operational delivery of all business segments. Organic capex stood at USD 1.04 bln, in line with lowered guidance and slightly higher than in the previous year. MOL continued to generate a massive amount of free cash flow establishing a strong financial framework to cover its ambitious transformational projects. Upstream delivered USD 854 mn EBITDA, a 26% increase in comparison with 2016 arising from higher Brent and gas prices. Due to a strong cost discipline the segment nearly doubled the amount of free cash flow, USD 14 per each barrel produced, and turned into a major contributor to the Group’s cash generation in 2017.

MOL Plc. has been upgraded to BBB- investment grade long-term credit and issuer rating with stable outlook by Standard and Poor’s (S&P). S&P concluded that the upgrade to investment grade credit rating was justified by the improvement in MOL’s current and forecasted credit metrics, thanks to the company’s strong performance and supportive industry conditions. S&P added that MOL demonstrated the benefits of its integrated business model, delivered on its cost optimization program with sustainable benefits for profitability and increased the share of less volatile retail and petrochemicals segments. The stable outlook reflects S&P’s expectation that MOL will maintain robust credit metrics…

Skuld has announces a total combined ratio of 98%, as well as a positive bottom line result of USD 51 million (USD 18 million in 2015 before members' credit) for its 2016 financial year ending 20 February 2017. Gross earned premium in 2016 amounted to USD 403 million. For the 14th consecutive year Skuld has reported a positive underwriting result. Added to that was a strong 3.4% return on investments, particularly on the equity portfolio towards the end of the policy year. Ståle Hansen, Skuld president and CEO said: "As we celebrate our 120th anniversary, we are pleased to announce another strong Skuld result. Moreover, we have over the year demonstrated our casualty response service and our core competence in servicing members and clients in difficult situations.

Following the previous announcement that Jim Umpleby will become Caterpillar’s Chief Executive Officer on January 1, 2017, Caterpillar Inc. announced today additional changes in its executive ranks. The company’s Board of Directors has appointed current Construction Industries Group President Tom Pellette, 53, group president of Energy & Transportation, the position previously held by Umpleby. Replacing Pellette, the Board has appointed Bob De Lange, 47, group president of Construction Industries. De Lange is currently vice president of the Excavation Division. Additionally, the Board has appointed Billy Ainsworth, 60, senior vice president and strategic advisor to the Caterpillar Executive Office.

At the recent annual Maritime Law Conference (MLA) held at Arabella in the Western Cape, various prominent government and international speakers took to the floor to debate and discuss national global maritime phenomena including inter alia; the progress in handling international oil spillages, port congestion, salvage and vessel arrests. Progress and unity was evident amongst the highly respected panel of speakers including Captain Rufus Lekala (TNPA Chief Harbour Master), Captain Alan Reid, representing P&I interests, Sobantu Tilayi (South African Maritime Safety Authority) and Dumisani Ntuli (Department of Transport) who spoke of enhanced engagement amongst each department and coordinated efforts to increase efficiencies.

Scandlines focused the business on the Germany-Denmark routes and made significant investments in future-proofing the group’s ferry operations as well as catering and retail activities in 2015. Efforts to promote the Rostock-Gedser route paid off for Scandlines having recorded the highest number of transported passengers in five years and posted strong financial results. Revenue grew by 3.5% to EUR 460 million in 2015 (2014: EUR 445 million) as Scandlines recorded its highest number of transported passengers in five years. The ferries transported 7.6 million passengers, 1.8 million cars and 0.5 million freight units in 2015. Progress was driven by particularly strong performance on the Rostock-Gedser route…

Overseas Shipholding Group, a provider of oceangoing energy transportation services, reported results for the fourth quarter and full year 2015. The company reported net income of $9.3 million in its fourth quarter. The crude oil and petroleum transportation company posted revenue of $243.7 million in the period. For the year, the company reported profit of $284 million, or 49 cents per share. Revenue was reported as $964.5 million. The Board has declared a dividend of $0.08 per share. “We are pleased to report strong results for the 4th quarter and full year 2015,” said Captain Ian T. Blackley, OSG’s president and CEO. “The positive supply and demand fundamentals in the international tanker market…

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. Growth in domestic consumer markets has helped off-set a tricky year for exporters who are still feeling the effects of a sluggish Eurozone and the wider global economic conditions felt by most U.K. business sectors. Inland hire, charter and passenger boat services have performed particularly well, capitalising on the increasing popularity of the U.K. with international visitors and the growth in U.K.

European Shipowners may increase freight rates or renegotiate bunker clauses in the coming year in order to capitalise on lower crude oil prices and consolidate the recovery seen in 2015, reports ICIS. Bunker fuel prices came down significantly amid lower crude oil prices but some shipowners have been unable to take advantage of this because of the bunker clauses they agreed to. A bunker clause is an agreement between charterer and shipowner whereby the charterer pays for fuel at the port and then the shipowner reimburses the charterer for the fuel left in the vessel on its return, both at the current price of the ports involved. “Bunkers…

The Port of New Orleans has surpassed the half-million mark for twenty-foot-equivalent units (TEU) handled in a 12-month period for the first time, announced Port President and CEO Gary LaGrange during the 29th Annual State of the Port Address hosted today by the International Freight Forwarders and Customs House Brokers Association of New Orleans. “It’s another milestone that comes on the heels of four record years in a row,” LaGrange said. The most recent 12-month container data through September found the port handled 537,285 TEUs, a 13.6 percent increase over the same period one-year ago.

Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months. It has posted a gross revenue increase of 11.8 per cent in the first half of 2015 worth USD 754.9 million against last year’s equivalent of USD 675. 2 million. In addition, the company’s net profit marked a hike from USD 63.6 million in 2014 to USD 216.3 million in the first six months of this year. “Sovcomflot achieved very strong results exceeding our own forecasts for the period and reflecting a sustained contribution from both the conventional tanker and industrial shipping segments.

Matson, Inc., a U.S. carrier in the Pacific, reported net income of $9.9 million, or $0.23 per diluted share for the quarter ended June 30, 2015. The company said its second quarter results were negatively impacted by $13.5 million of additional selling, general and administrative expenses related to the company's acquisition of Horizon Lines, Inc. in excess of the company's incremental run-rate target and by $11.4 million of costs related to the company's settlement with the State of Hawaii to resolve all claims arising from the discharge of molasses into Honolulu Harbor in September 2013, which together reduced earnings per diluted share by $0.33. Net income for the quarter ended June 30, 2014 was $18.1 million, or $0.42 per diluted share.