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

People & Company News

Dool to Serve as Chair of SLSMC Board

The St. Lawrence Seaway Management Corporation (SLSMC) announced that Tim Dool has been named as Chair of the Board of Directors, effective September 1. Dool was

Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas,

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

Contracts

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

Telemar to Supply Broadband for Herm. Dauelsberg

Telemar GmbH, the German subsidiary of the Telemar Group, closed an agreement with Herm. Dauelsberg for the supply of a complete “turn-key solution” for their fleet of 18 vessels.

Brazil AHTS Contract Breakthrough for Havyard

Havyard says it is to deliver the ship design and equipment for four anchor handling tug supply (AHTS) vessels that are to be built and operated by the Brazilian

Offshore

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

Brazil AHTS Contract Breakthrough for Havyard

Havyard says it is to deliver the ship design and equipment for four anchor handling tug supply (AHTS) vessels that are to be built and operated by the Brazilian

EOC Takes Full Ownership of OSVs

On 26 August 2014, EOC Limited agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd. (the "Target") , a company incorporated under the laws of Singapore,

Finance

Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas,

CMA CGM Continues Expansion, Confirms Profits

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer,

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1264 sec (8 req/sec)