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 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

People & Company News

HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory

CMA CGM to use Kingston As Transshipment Hub

French shipping giant CMA CGM plans to use Kingston Container Terminal,  Jamaica as a strategic Caribbean transshipment hub for an enlarged Panama Canal. The Port connects to US East Coast,

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

Contracts

ABP orders Two Gottwald cranes

Terex Port Solutions (TPS) has received an order from Associated British Ports (ABP) for two electric Terex Gottwald Model 8 portal harbour cranes in the G HSK 8424 B four-rope grab variant.

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

Baltic Index up for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments.

Offshore

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

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

Subsea 7 Announces PLSV Swap off Brazil

Subsea 7 S.A. said it has reached an agreement with Petrobras to substitute a pipelay support vessel (PLSV) working off Brazil.   The agreement will see the Subsea-7-owned

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 Port Authority Salvage Ship Electronics 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: 0.1321 sec (8 req/sec)