WW Posts 2005 Results

Wednesday, February 08, 2006
Wilh. Wilhelmsen ASA (WW) posted its results for 2005. Net operating profit was $232 million, while total operating income came to $2.2 billion. Profit before taxes was $209 million. WW's net operating profit for the fourth quarter of 2005 came to $67 million, with total operating income at $608 million. Profit before taxes came to $21 million, compared with $45 million in the same period of 2004. This decline is entirely attributable to a repricing, without liquidity effect, of future hedging contracts as a result of new accounting principles which reduced fourth quarter profit before taxes by $45 million. An extensive newbuilding program is being pursued by WW to secure new and modern tonnage, with 11 ships ordered by the group for delivery in 2006-09. WW expects its net operating profit for 2006, including ordinary financial items, to be in line with the year before.
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Wishful Thinking From Across the Pond

European Shipowners Pursue Softening of the Jones Act Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined that

Legislation Signed for Ports Upgrades

Today, Governor Brown signed AB 2395 Legislation. The bill was co-authored by Bonnie Lowenthal chair of the Assembly Transportation Committee and the Select Committee

Pariah Containership Banned from Australian Ports

The Australian Maritime Safety Authority (AMSA) informs that it has issued a direction to the container ship 'Vega Auriga' (IMO 9347786) that prohibits the ship

Finance

Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party.

EU to Help Italy Cope with Boat Migrants

The European Commission said on Wednesday it would launch an EU version of Italy's sea rescue operation to help it deal with the droves of migrants crossing the

Governors Write Obama for Mississippi River Funding

Governors seek President Obama’s support for upper Mississippi River commercial navigation locks and ecosystem The Governors of the five Upper Mississippi River States of Illinois,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1179 sec (8 req/sec)