SBM Offshore Looks Back Comfortably on 2013

MarineLink.com
Tuesday, December 17, 2013
Image credit SBM Offshore

Ahead of the scheduled FY2013 earnings announcement1, SBM Offshore announces:

  • Production Acceptance Notice of Deep Panuke following  debottlenecking
  • Company-wide review of decommissioning provisions and vessel values leading to non-cash charges of US$160 million
  • Sale and lease back transactions for two of three Monaco offices agreed with proceeds exceeding US$100 million
  • Anticipation of FY2013 IFRS revenue of approximately US$4.6billion, compared to guidance of US$4.3 billion

 Bruno Chabas, CEO of SBM Offshore comments:
“From a difficult start, 2013 has been a year of achievements. As we close, we are updating the market on further steps that mark SBM Offshore’s progress and our determination to manage our business rigorously and efficiently.

We are pleased to announce that the Deep Panuke facility has received Production Acceptance Notice and is formally on hire. This has been a tough project, but its delivery reflects the advances we have made. Today, SBM Offshore focuses on what the client wants and delivers it. This is a significant factor in the progress being made across our project portfolio, as reflected by today’s increased 2013 IFRS revenue guidance.

We have recently concluded a Company-wide review of decommissioning provisions and vessel values. As a matter of prudent accounting, this will result in certain non-cash charges. Even so, the Company will return a positive IFRS net income for 2013 and remains firmly within its covenants.”
 

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

People & Company News

26-year Jail Term Sought for Concordia Master

An Italian prosecutor asked a court on Monday to sentence the captain of the Costa Concordia cruise liner to more than 26 years in jail for his role in the 2012 disaster that killed 32 people.

Boost for Offshore Wind Energy

As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, Secretary of the Interior

Coast Guard Cutter William Trump Commissioned

The Coast Guard Cutter William Trump was commissioned during a ceremony at Coast Guard Sector Key West Saturday Jan. 24, 2015. The Trump is the 11th fast response cutter in the Coast Guard fleet.

Contracts

Boost for Offshore Wind Energy

As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, Secretary of the Interior

Zamakona Refits Vessels VOS HERA & HADES

The Zamakona Yards in Pasajes has successfully finished the works carried o t in the vessels VOS HADES and VOS HERA that belong to the Company Vroon Offshore Services UK.

U.S., India to Seal Nuclear Deal

The United States and India have reached a breakthrough on two issues holding up civil nuclear cooperation between them, U.S. President Barack Obama told a news conference in New Delhi on Sunday.

Offshore

Boost for Offshore Wind Energy

As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, Secretary of the Interior

Maersk Line Gets new AEO number

Maersk Line has been re-certified as an Authorised Economic Operator (AEO) with the AEO-F, the highest achievable accreditation in the European Union programme.

Hofste, Montijn Nominated to Supervisory Board Fugro

Fugro N.V. announces that the Supervisory Board of Fugro nominates Mrs. P.H.M. Hofsté and Mrs. A.H. Montijn for appointment as members of the Supervisory Board

Finance

Gypsy Moth Clause Takes Balanced Approach to Risk

A new BIMCO clause provides a simple, practical and commercial solution focusing on the basic obligations and responsibilities of owners and charterers when dealing with the Asian Gypsy Moth (AGM).

Maersk Line Gets new AEO number

Maersk Line has been re-certified as an Authorised Economic Operator (AEO) with the AEO-F, the highest achievable accreditation in the European Union programme.

Batangas Port Sets Container Record

Batangas Container Terminal (BCT) set a new record in 2014 for containers handled, says its operator Asian Terminals, Inc. (ATI).  Port handled over 98,000 twenty-foot-equivalent

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Ship Repair Shipbuilding / Vessel Construction 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: 0.2420 sec (4 req/sec)