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

People & Company News

WSC CEO Koch to Retire in 2015

Chris Koch, current president and CEO of the World Shipping Council (WSC), will retire from his position on July 31, 2015, and WSC Senior Vice-President and General Counsel,

Cecon Secures Finances to Complete Newbuild

Cecon ASA has petitioned for a debt restructuring agreement (in Norwegian: gjeldsforhandling). Certain funds managed by York Capital Management Global Advisors,

HII Board of Directors Elects Two VPs

Huntington Ingalls Industries’ (HII) board of directors has elected Kellye Walker to serve as corporate vice president and general counsel and Charles R. “Chuck” Monroe Jr.

Shipbuilding

Cecon Secures Finances to Complete Newbuild

Cecon ASA has petitioned for a debt restructuring agreement (in Norwegian: gjeldsforhandling). Certain funds managed by York Capital Management Global Advisors,

NMEA Updates Installation Standards

2014 edition of NMEA 0400, Version 4.00 features extensive updates and new information   The National Marine Electronics Association (NMEA) has published Edition 2014, Version 4.

HII Board of Directors Elects Two VPs

Huntington Ingalls Industries’ (HII) board of directors has elected Kellye Walker to serve as corporate vice president and general counsel and Charles R. “Chuck” Monroe Jr.

Ship Repair & Conversion

NMEA Updates Installation Standards

2014 edition of NMEA 0400, Version 4.00 features extensive updates and new information   The National Marine Electronics Association (NMEA) has published Edition 2014, Version 4.

Hoists Facilitate Offshore Crane Repairs

When the diesel engine of a deck crane failed, it caused major handling problems for an offshore platform operating in the Dutch sector of the southern North Sea,

NASSCO Opens Bremerton Repair Facility

General Dynamics NASSCO celebrated the grand opening of its new location in Bremerton, Wash., yesterday. The facility will support the company’s recently-awarded contract to repair and maintain U.

Offshore

Abigail Ross Hopper Named BOEM Director

Secretary of the Interior Sally Jewell today named Abigail Ross Hopper as the Director of the Bureau of Ocean Energy Management (BOEM), which manages the development

QGEP to Acquire FPSO from Teekay

Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production,

Hoists Facilitate Offshore Crane Repairs

When the diesel engine of a deck crane failed, it caused major handling problems for an offshore platform operating in the Dutch sector of the southern North Sea,

Finance

Cecon Secures Finances to Complete Newbuild

Cecon ASA has petitioned for a debt restructuring agreement (in Norwegian: gjeldsforhandling). Certain funds managed by York Capital Management Global Advisors,

Libyan State Oil Firm NOC Will Remain Independent

Libya's Tripoli-based state firm National Oil Corp (NOC) will remain independent, it said on Thursday, in an apparent attempt to reassure foreign oil buyers it will stay out of the country's conflict.

Oil Prices Retreat from Short-covering Rebound

Global crude prices fell more than $1 a barrel on Thursday, retreating from a short-covering charged rally as traders bet the market had not shaken off a six-month long rout on oversupply concerns.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.5795 sec (2 req/sec)