Smit Reports Growth

Monday, August 20, 2007
In the first half of 2007 the Division won two major long-term contracts. A 25-year contract will be carried out in a joint venture involving the provision of 4 tugs for an LNG terminal in Italy. This contract will start contributing in the second half of 2008. In addition, a long-term contract was acquired in Angola. This contract will start contributing towards the end of 2007. Part of the activities in Gabon, which were carried out with an (aged) river fleet, were divested. The sale of these activities generated one-time income of EUR 1.4 million after deducting reorganisation costs. Against this, the result of the Terminals Division includes a one-time expense of approximately EUR 1.0 million in relation to employee benefits in Nigeria. A new contract was started in Equatorial Guinea. This concerns the deployment of two tugs for an LNG terminal. The growth target for the net profit is 50% over a 5-year period (starting in 2003).
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Northern Fleet to Conduct Anti-terrorist Exercises

The sailors of the Northern Fleet will conduct anti-terrorism exercises at Novaya Zemlya. During the exercise, the coast will be a landing. The landing will

ADF’s New Amphibious Capability Demonstrated

Australia’s newest military capability, the Amphibious Ready Element, has demonstrated its capacity in waters off the North Queensland coast during the Sea Series of exercises.

Michelle Obama to Christen Navy's Newest Submarine

U.S. First Lady Michelle Obama will join builder General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics, in christening Illinois (SSN-786), the U.


Search for Ship Lost in Hurricane a Big Challenge

Deep seas may complicate efforts to find the sunken U.S. cargo ship lost off the Bahamas during Hurricane Joaquin, a federal safety investigator said, as a search

U.S. East Coast Threatened by Hurricane Joaquin

Hurricane Joaquin was gaining strength on Thursday as it moved toward the Bahamas, with forecasts still inconclusive on whether the storm would slam into the U.

Two Indian Shipbreakers Deemed HKC Compliant

ClassNK issues Hong Kong Convention Statements of Compliance to two ship recycling facilities in India    Two ship recycling facilities in Gujarat, India, R. L.

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.2852 sec (4 req/sec)