Vopak To Sell Tankers

Thursday, March 08, 2001
Dutch chemicals storage and shipping company Koninklijke Vopak reported a five percent rise in 2000 net profit, driven by its North American distribution business, and forecast a sharper rise in the current year. Vopak, the world leader in tank storage, said net profits after payouts of preferential share dividends rose to 160.1 million euros ($148.9 million) in 2000 from 152.2 million euros in the previous year. Vopak said profits after goodwill write-offs were likely to rise by eight to 10 percent in 2001, and also forecast a rise in net profit before goodwill and one-time charges of 19-21 percent in the current year. Company watchers said although the 2000 figures came as no surprise, the outlook for 2001 was slightly disappointing. “The profit figures were in line with expectations, but the forecast was below what we expected,” said Geert-Jan Hoppers, analyst with Effectenbank Stroeve. Vopak board member Niels von Hombracht said the company would trim its 50 percent equity stake in Swedish shipper Brostrom, and planned to auction off some of its own tankers and reduce its barge ownership. “We expect announcements about this in the first half of the year,” he said. The company said turnover rose by nearly 16 percent last year to 4.15 billion euros, largely as a result of its stronger chemical distribution position in North America. Sales at the North American unit jumped 17 percent to 2.3 billion euros from 1.9 billion euros in 1999. About half that increase was due to organic growth and improvement in market share, Vopak said. Those sales are expected to grow 5-10 percent per year from 2002, Chairman Ton Spoor told the news conference. — (Reuters)
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Houston Ship Channel Man Overboard Swims to Island

The U.S. Coast Guard informs of the rescue of a 62-year-old man who was stranded on Atkinson Island, after he fell off his boat in the Houston Ship Channel near Sylvan Beach and swam to the island.

RS to Exhibit at SMM 2014

Russian Maritime Register of Shipping (RS) announced it will exhibit at Shipbuilding, Machinery and Marine Technology (SMM) International Trade Fair September 9-12, 2014 in Hamburg, Germany.

Green Marine, ACPA Partner to Reduce Environmental Footprint

Green Marine and the Association of Canadian Port Authorities (ACPA) have entered into a Memorandum of Understanding with the goal of jointly expanding efforts

Finance

SC Ports’ Earnings, Volumes Surpass Plans

July cargo volumes deliver strong start to new fiscal year SC Ports Authority reported 2014 fiscal year-end operating earnings of $14.3 million, 20.7 percent over the organization's financial plan.

GoM Sale Yields $110m in High Bids

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, today’s Western Gulf of Mexico Lease Sale 238 attracted $109,

Traders Store Crude for Profit as Contango Takes Hold

Oil traders have begun fixing tankers to take North Sea, West African and Arab crudes to South Africa for storage, hoping for a repeat of the multimillion dollar bonanza they reaped in 2008-2009.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics 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: 0.1859 sec (5 req/sec)