WW Posts 2005 Results

Wednesday, February 08, 2006
Wilh. Wilhelmsen ASA (WW) posted its results for 2005. Net operating profit was $232 million, while total operating income came to $2.2 billion. Profit before taxes was $209 million. WW's net operating profit for the fourth quarter of 2005 came to $67 million, with total operating income at $608 million. Profit before taxes came to $21 million, compared with $45 million in the same period of 2004. This decline is entirely attributable to a repricing, without liquidity effect, of future hedging contracts as a result of new accounting principles which reduced fourth quarter profit before taxes by $45 million. An extensive newbuilding program is being pursued by WW to secure new and modern tonnage, with 11 ships ordered by the group for delivery in 2006-09. WW expects its net operating profit for 2006, including ordinary financial items, to be in line with the year before.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

China's Air Drills Roil South China Sea Waters

China's air force conducted its first drill above the western Pacific Ocean on Monday, the Defence Ministry said, in a move that could exacerbate tensions with

Drydocks World, Maritime World Win Excellence Awards

Drydocks World and Maritime World have won the Excellence Award given by the International Maritime Club at the Golden Bells Awards 2015 - Middle East. Drydocks

Ocean 3 launched at the AGCT, Rijeka

China Shipping Container Line’s (CSCL) Xin Qin Huang Dao recently made its maiden call at the Adriatic Gate Container Terminal (AGCT), International Container Terminal Services, Inc.

Finance

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

Rand Logistics Announces Debt Refinancing

Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Sonar
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: 0.1156 sec (9 req/sec)