Clarksons' Report Buoyant Financial Progress

MarineLink.com
Friday, November 08, 2013

Shipping services group Clarksons has released its Interim Management Statement published in accordance with the UK Listing Authority's Disclosure and Transparency Rules, for the period from 1, July 2013 to 6, November 2013. Excerpts as follows:

Trading

Clarksons trading has been encouraging over the period against global shipping markets which, although demonstrating some early signs of improvement still remain challenging. This is evidenced by the ClarkSea index which for the second half of 2013 to date was up 19% against the first half of the year and for the average of the year to date was flat against the same period in 2012. Trading in Q3 was up year on year.



Broking

The positive indicators of improvement in our markets highlighted at the half year have started to bear results and we have seen some improvement in rates and asset values.

Financial

Across our derivatives broking business, the improvement in rates has resulted in strong volumes. Whilst rates softened again towards the end of the third quarter, year to date losses in derivative broking have seen a notable improvement year on year.

Support
Trading in our Port Services business has continued to be impacted by reduced grain exports as a result of the poor 2012 harvest and the decrease in activity of offshore oil and gas projects in the North Sea. However, trading across the rest of our support businesses have been in line with expectations.


On 1 November 2013, we announced the purchase of Gibb Tools, a leading specialist tool supplier to the industrial maritime and offshore sectors, for a maximum total consideration of £12.7m.

Research
We continue to grow and develop the breadth and depth of our Research offer which underpins all of Clarkson's services and have seen an increase year on year in underlying revenue from research activities during the period.


Outlook

Whilst the markets continue to be challenged, the recent improvement in rates demonstrates that as trading conditions improve, Clarksons has the right strategy, structure and teams in position to take full advantage of recovery and we remain confident in the outlook for the remainder of 2013 and the Board's expectations are unchanged.



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

People & Company News

BHP Billiton Congratulates Women in Resources

More diverse workforces are helping resource companies achieve superior performance, safety and stable production, says BHP Billiton’s Human Resource President, Mike Fraser.

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

SUNY Maritime Takes the Ice Bucket Challenge

Taking full advantage of one of the summer’s hottest days, twelve administrators and staff at the State University of New York (SUNY) Maritime College today took the Ice Bucket Challenge,

Finance

Norwegian to Buy Prestige Cruises in $3b Deal

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion

Master Fined After Wind Farm Collision

The master of a wind farm support vessel has today been made to pay £3,000 in fines and costs after pleading guilty to breaches of maritime collision regulations.

Statoil, DNV GL Drive Subsea Factory Interface Standardization

Statoil has entered into an agreement with DNV GL to establish an industrial cooperation to introduce an international industry standard for subsea process technology.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Sonar 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: 0.1430 sec (7 req/sec)