Smit Reports Growth

Monday, August 20, 2007
In the first half of 2007 the Division won two major long-term contracts. A 25-year contract will be carried out in a joint venture involving the provision of 4 tugs for an LNG terminal in Italy. This contract will start contributing in the second half of 2008. In addition, a long-term contract was acquired in Angola. This contract will start contributing towards the end of 2007. Part of the activities in Gabon, which were carried out with an (aged) river fleet, were divested. The sale of these activities generated one-time income of EUR 1.4 million after deducting reorganisation costs. Against this, the result of the Terminals Division includes a one-time expense of approximately EUR 1.0 million in relation to employee benefits in Nigeria. A new contract was started in Equatorial Guinea. This concerns the deployment of two tugs for an LNG terminal. The growth target for the net profit is 50% over a 5-year period (starting in 2003).

Maritime Today

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

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Maersk to Idle Vessel

The world's biggest container-ship operator Maersk Line  has confirmed market talk that it has temporarily idled one of its largest vessels - yet another sign that the industry is in dire straits,

Russian Navy Trying Hard for Facelift

Official announcements related to naval shipbuilding give the appearance of a Russian Navy that is undergoing a rapid revival. However, the reality is that many

USNS Maury Completes Acceptance Trials

USNS Maury (T-AGS 66) completed Acceptance Trials, November 6, following a week of extensive ship tests and underway events, included testing of major propulsion,

Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.0657 sec (15 req/sec)