ASL Marine’s FY2013 Earnings Surge 40%

MarineLink.com
Wednesday, August 28, 2013

 

  •  Group revenue increased 19.0% to S$465.4 million due to higher contributions from shipbuilding, shipchartering and engineering segments
  •  Gross profit margin improved across all business segments, taking gross profit 47.0% higher to S$83.6 million
  •  Healthy outstanding order book for shipbuilding segment of S$370 million and long term shipchartering contracts worth S$74 million supports sturdy outlook
  •  Cash dividend of 2.0 Singapore cents per share recommended for FY2013

 

ASL Marine Holdings Ltd., an integrated marine company offering comprehensive services in shipbuilding, shiprepair and conversion, shipchartering and dredging engineering, reported revenue of S$465.4 million and net profit attributable to shareholders of S$45.3 million for the full year ended 30 June 2013 (FY2013).

"Sustained oil prices and an increasing focus on deepwater oil fields have supported the growth in global oil and gas exploration and production expenditures. This development is expected to be positive for the Group’s shipbuilding and shipchartering segment, as it supports newbuild demand for offshore support vessels and healthy charter rates. Indeed, our Batam yards are expected to benefit from Indonesia’s cabotage law and high level of activities, while large LNG fields in Australia will also spur demand for offshore support vessels.

While we are mindful of competition from Chinese yards venturing into the offshore and marine space, we believe that the situation may be negated with the Chinese government’s moves to consolidate their shipbuilding sector. With our established track record, we are confident of our competitive edge within the offshore marine shipbuilding sector.

The group reported that it concluded FY2013 with a strong set of results, and have recommended 2cents per share in dividends as a token of appreciation for the loyal support of our shareholders. Prospects for the dredging industry are supported in the medium to long term. The group will continue to focus on the smooth integration of the Vosta LMG group, and on scaling up technical capabilities in all business segments to maintain our strong performance in order to enhance shareholders’ value.”

aslmarine.com

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

People & Company News

Standard Chartered Private Equity invests $ 75 mi in Topaz

Topaz Energy and Marine (“Topaz”), a leading offshore support vessel company with primary operations in the Caspian, Middle East, West Africa and Subsea operations

Prosafe Q2 Earnings Below Expectations

Offshore accommodation rig provider Prosafe reported second-quarter earnings below expectations on Thursday and said that its short-term market outlook is weaker

'Double Jeopardy – Trial by Media, Trial by Law' London Opening

BIMCO notes that the highly acclaimed "Double Jeopardy - trial by media, trial by law" first showcased at the BIMCO AGM in Dubai earlier this year is to be brought

Shipbuilding

Week's Ocean-Going Shipbuilding Orders Sparse

Despite some media reports of more significant ordering, there is only one firm shipbuilding order to report in the drybulk sector, according to the latest Clarkson Hellas S&P Weekly Bulletin,

DSME Gets UK Shipyard Consulting Contract

S. Korea's DSME says it is to provide naval vessel production and management consulting services for British defense company BAE. Under the terms of the agreement,

Two MacGregor Subsea Cranes Ordered for Chinese PSVs

MacGregor, part of Cargotec, has secured a new contract from Chinese shipbuilder, Fujian Mawei Shipbuilding Ltd., for two 100-metric-ton active heave-compensated subsea MacGregor cranes.

Ship Repair & Conversion

Permanent On-site Collision Damage Repair in Greece

In July Hydrex mobilized a team of diver/technicians to Syros, Greece, for a complex repair operation on a 118-meter, 8550 DWT chemical tanker. The vessel had suffered

Pipeline Corrosion Shutters Statoil's Troll C Platform

Norway's Statoil shut oil and gas production at its Troll C platform in the North Sea after inspections found corrosion damage on a pipeline, the company said in

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Offshore

Chariot Agrees Brazil Farm Out with AziLat

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda.

Lloyd’s Register's New, Consolidated, Rules for Offshore Units

Lloyd’s Register has launched its new Rules for Offshore Units in one single document following an in-depth consultation with industry. It signals a move by

Prosafe Q2 Earnings Below Expectations

Offshore accommodation rig provider Prosafe reported second-quarter earnings below expectations on Thursday and said that its short-term market outlook is weaker

Finance

Foster Wheeler to Supply Heat Recovery Steam Generator In Mexico

Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Iberdrola, for the design and supply

EMGS - Settlement of the Convertible Bond Loan to North Energy

Divestment fully in line with ABB’s commitment to continuous portfolio optimization. ABB has divested five businesses with limited synergies in the past 11 months raising about $1 billion.

Standard Chartered Private Equity invests $ 75 mi in Topaz

Topaz Energy and Marine (“Topaz”), a leading offshore support vessel company with primary operations in the Caspian, Middle East, West Africa and Subsea operations

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Ship Electronics 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: 0.2247 sec (4 req/sec)