Aker Maritime Sees Rise In Profits

Friday, February 18, 2000
Norwegian offshore services group Aker Maritime forecast a considerable rise in profits in 2000 after weak oil markets depressed earnings in 1999. Due to low order intake in 1999, the company's level of activity is likely to continue to decline in the first half of 2000, but earnings are expected to improve significantly in later in the year, a company spokesperson said. The company reported that profits after financial items, the equivalent of pre-tax earnings, fell to 7.8 million from $85.5 million. The company had a net loss of $2.1 million against a 1998 profit of $50.5 million. The spokesperson said that the increase in oil prices throughout 1999 will lead oil companies to increase their activities in exploration and deep water. This is expected to be positive for the company, he said, even if its activity level as a whole is significantly lower than in 1999.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Liberian Registry Appoints Catsiba Manager in Dubai

Fay Catsiba has joined the Liberian International Ship & Corporate Registry (LISCR) as Business Development Manager based in Dubai, U.A.E. Greece-born Fay, who

Cook Joins Horizon Shipbuilding as Operations VP

Horizon Shipbuilding, Inc. announced that Mickey Cook has joined the corporation as the Vice President of Operations for the Bayou La Batre shipyard. Cook, one of the founders of C & G Boatworks,

Mercury Marine Launches Repower Financing

Mercury Marine launched a new repower finance program that aims to make it easier for consumers to get the engine performance they want with flexible financing for a broad range of buyers.

Finance

Mercury Marine Launches Repower Financing

Mercury Marine launched a new repower finance program that aims to make it easier for consumers to get the engine performance they want with flexible financing for a broad range of buyers.

Maritime Academy Awarded DHS Grant for Arctic Training

Maine Maritime Academy receives $450,000 grant From U.S. Department of Homeland Security for ice navigation and maritime first responder courses for the Arctic Maine

Knightsbridge Closes Vessel Acquisition Transaction

Bermuda-based Knightsbridge Tankers Limited announced that it has closed the first stage of its vessel acquisition transaction. Knightsbridge has issued 31 million

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Salvage Ship Electronics Sonar 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: 0.1338 sec (7 req/sec)