Vopak Reports '99 Net Down, Eyes Improvement

Friday, February 25, 2000
Dutch shipping and tank storage firm Vopak NV reported that its ordinary net profit fell by 5.3 percent in 1999, but said it expected improvements this year. Net profit from ordinary activities fell to $163.2 million, from $174.4 million in 1998, roughly in line with analysts' forecasts and earlier indications from the company of a five to 10 percent drop. The weakness was largely due to a drop in earnings at Tanker Shipping as excess capacity pressured rates. Total group net profits fell to $105. 3 million from $170 million, after $51.7 million of one-off charges mostly related to last year's merger. Vopak, the world's largest oil and chemical storage firm, was formed last year through the combination of Dutch rivals Van Ommeren and Pakhoed. This year, it said, its performance would improve in all corporate units.

Maritime Today


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

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

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0694 sec (14 req/sec)