Leif Höegh Records Strong First Quarter

Tuesday, April 20, 2004
Operating profit before sales gain and depreciation for Leif Höegh & Co. Limited (LHC) for the first quarter showed a significant improvement compared to first quarter of last year.

HUAL experienced a strong first quarter. The car carrier market continues to be very tight, with all operators experiencing space pressure. The strong cargo availability out of the Far East continued. In February another large PCTC newbuilding on long term charter was delivered. During the first quarter HUAL entered into long term charters for further two PCTC newbuildings to be delivered in 2007.

HUAL was in April awarded as “General Motors Supplier of the Year 2003” for its overall business performance in providing GM with ocean services.

The LNG vessels and the two wholly owned Capesize vessels operated under their long term charter contracts without any disruptions. LHC had 9 open hatch vessels in the Saga Pool at the end of the quarter after delivery of one vessel to new owner in January.

HUAL, the Ro/Ro car carrying unit of Leif Höegh & Co, is one of the world’s leading operators of car carriers with a fleet of 45 Ro/Ro vessels in its commercial operation. HUAL has seven large Ro/Ro newbuildings on order for delivery 2004 to 2007 and further 4 large Ro/Ro newbuildings will be taken on long term charter (in addition to three already delivered).

Höegh LNG operates four LNG carriers and the company has two newbuildings on order for delivery in 2005 and 2006. All vessels are employed on long term contracts.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28,

Antietam, McCampbell Build Relationships at IFR 2016

Ticonderoga-class guided-missile cruiser USS Antietam (CG 54) and Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) arrived Feb. 4 in India

COSCO Plans European Transhipment Hub

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

Finance

Sardines Boost Murmansk Port Turnover

In January 2016 turnover of the Murmansk Marine Fishing Port reached 22 thousand tons of cargo, including 15 thousand tons of fish. This is higher than last year,

COSCO Plans European Transhipment Hub

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

MISC Bhd: Revenue Up

Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Simulators Sonar 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: 0.0803 sec (12 req/sec)