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.




People & Company News

MobileOps Pursuing Maritime Business

Redmond, Wash. based MobileOps, Inc., a software company specializing in the design and development of maritime software applications (dispatch, safety, compliance,

Half a Century at Sea

Siegfried Schmerer already dreamed of becoming a captain as a young boy. Later, as a sailor on a coaster, he suffered from seasickness. Though he thought about giving up,

MN100: Shock Mitigation

The Company: The company provides marine organizations, boat builders and equipment manufacturers with relevant subject matter expertise plus an independent overview

Finance

California: A Strong Shipbuilding State

Fifth in the nation for direct employment, California shipbuilding and repair industry supports nearly 35,000 jobs; Maritime Administrator highlights economic importance

Advent Hires Banks to Sell Control of Brazil Port

Buyout firm Advent International Corp has hired Morgan Stanley & Co and Grupo BTG Pactual SA to advise on the sale of a controlling stake in TCP Terminal de Contêineres de Paranaguá SA,

SUNY Maritime Among 'Best Bang for the Buck' Colleges

SUNY Maritime College has been named one of the best colleges for its price by Washington Monthly.   SUNY Maritime placed in the top 30 schools in the Northeast.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Winch
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: 0.1043 sec (10 req/sec)