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

People & Company News

Panama Canal to Celebrate 100 Years

To commemorate its centennial, the Panama Canal will host a series of events August 14-15 in Panama City to highlight the impact of the waterway during the past century.

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

SHIPPINGInsight 2014 Agenda Announced

Annual Conference, Exhibition and Networking Event Brings Together Shipowners and Technology Companies to Address Practical Solutions for Efficient Operations The

Shipbuilding

Navios Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced that the Nave Electron, a 2002-built VLCC of 305,178 dwt, was delivered

VIDEO: HMS Queen Elizabeth Floats Out

A timelapse video of HMS Queen Elizabeth floating out of her dock for the first time is now available at http://www.youtube.com/watch?v=P0ZjQz9vEKw. The float out of the 65,

GE, LR Study Gas Turbines for Commercial Ships

GE Marine and Lloyd’s Register Sign Memorandum of Understanding to Collaborate on Applying Gas Turbines to Power Commercial Ships GE Marine and Lloyd’s Register

Ship Repair & Conversion

Hyde Marine Makes BWTS Installation Agreements

Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, says it has established two partnership agreements for installation of the chemical-free

MAN Extends High Speed Power Range

MAN announced it will present a newly developed 12-cylinder V-engine for use in working vessels at the SMM 2014 trade fair in Hamburg, Germany. The German engine

Germany as a Maritime Location Endangered: VDR

Germany, which currently is home to the world’s biggest container vessel fleet, will in future have fewer small shipping firms as European banks avoid the industry

Offshore

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

Oil Companies Bidding for Blocks in Colombia

Oil companies were bidding on Wednesday for 95 oil areas Colombia is offering for exploration and production in an effort to raise output from around 1 million

Ocean Mineral Singapore Set for Seabed Exploration

Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence.

Finance

Trading Dutch Well Placed to Pursue Russia Sanctions

The seafaring Netherlands prides itself on being a trading nation, reluctant to let politics get in the way of a good deal. But since the downing, allegedly

Navios Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced that the Nave Electron, a 2002-built VLCC of 305,178 dwt, was delivered

Scorpio Tankers: Latest Financial & Ship Delivery News

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report.

 
 
Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction 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: 0.1523 sec (7 req/sec)