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 Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

Iraqi Kurdish Oil Nears US Port Despite Concern in Washington

A tanker carrying crude oil from Iraqi Kurdistan is just two days away from arriving at a U.S. port, according to ship tracking satellites, despite Washington's

Maritime NZ Oil Spill Response Review: Submissions

Maritime New Zealand (MNZ) says it invites submissions on its draft updated New Zealand Marine Oil Spill Response Strategy 2014 (the draft Strategy). The draft Strategy, (available at http://bit.

Finance

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

Thome Is the First to Sign up to IMPA Act

Leading integrated ship management service provider Thome Ship Management has become the first ship management company to join IMPA ACT, the responsible supply chain management initiative,

Legislation Grants Funding for EU's EMSA

EU Council Adopts Regulation on EMSA Funding The European Union Council adopted a regulation yesterday to finance the actions of the European Maritime Safety

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
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: 0.1104 sec (9 req/sec)