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

Legal

Belgian Strike to Impact Antwerp Port

A strike in parts of Belgium on Monday is expected to disrupt rail services and one of Europe's largest ports as trade unions and workers voice their anger over

Statoil Halts Angola Exploration, Cancels Rig Contract

Norway's Statoil has halted its exploration campaign in Angola after several disappointing wells and canceled a rig contract with Stena Drilling, the firm said on Friday.

Transas Launches Web Map Service

Transas Marine has launched Transas Web Map Service (WMS)to provide transparent and easy access to navigation charts through common interface. Access to comprehensive

Finance

Cost to Fuel Ships Falls

For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as $1 million a year if current price level stay put. Assuming

Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs)

Belgian Strike to Impact Antwerp Port

A strike in parts of Belgium on Monday is expected to disrupt rail services and one of Europe's largest ports as trade unions and workers voice their anger over

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.1315 sec (8 req/sec)