STX Europe Q3: OSV Keeps Good Margin

Press Release
Thursday, November 15, 2012

Cruise & Ferries remain challenging.

Highlights:
STX Europe achieved operating revenues of NOK 4 480 million in third quarter 2012, a decrease of NOK 763 million compared to corresponding period 2011 (Q3 2011: NOK 5 243 million). Profit before tax for third quarter 2012 of NOK 250 million (Q3 2011: NOK 535 million).

 

Third quarter shows that healthy EBITDA results continue from STX OSV, while the result of Cruise & Ferries business area is not satisfactory due to lower than expected activity levels.  

 

STX Europe AS received interim dividend of NOK 364 million in September from STX OSV. STX Europe AS repaid about NOK 184 million (US$32 million) of bank loan during Q3.


EBITDA of NOK 327 million for Q3 2012 

  • STX OSV Holdings Limited (STX OSV) with EBITDA of NOK 332 million for Q3 2012 (Q3 2011: NOK 589 million)
  • Cruise & Ferries with  EBITDA of NOK -3 million for Q3 2012 (Q3 2011: NOK 96 million)


Order book situation:

  • Order intake of NOK 1 097 million for Q3 2012 (Q3 2011: NOK 4 190 million)
  • 9 vessels successfully delivered and 2 new vessels secured in Q3 2012
  • Order backlog of 58 vessels at the end of Q3 2012 totaling NOK 26 304 million (Q3 2011: 31 626 million)
  • Since the end of Q3 2012, STX Europe secured additional two vessel contracts from STX OSV and one cruise vessel contract from Cruise & Ferries, and delivered three more vessels.


For further information please see full version of Q3 2012 report.

 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Electronics Retrofit for Taiwanese Research Vessel

L-3 SAM Electronics has been awarded a contract to retrofit propulsion control and automation systems aboard the Taiwanese Navy’s Ta Kuan hydrographic and oceanographic research vessel.

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

Van Oord, Falck Ink Safety Training Deal

Van Oord has signed a two year contract with Falck Safety Services for the provision of safety training.   Van Oord, a contractor for dredging, marine engineering and offshore energy projects,

Legal

Dutch Chief Mate Sentenced for Fatal Collision

Gerardus Chapel, the chief mate at the helm of the dredger that collided with a sailing yacht at the entrance to the River Orwell in Suffolk last summer, has received a six-month sentence.

Philly Tankers Lines Up Charters

Philly Tankers AS announced today that its wholly owned U.S. subsidiary, Philly Tankers LLC, has entered into binding long-term time charter contracts with a domestic end-user for the two 50,

North Korea Reflags Ships to Evade Sanctions

A North Korea shipping company has been renaming and reflagging its vessels so it can evade an arms embargo, a UN report has said.   The effort by Pyongyang-headquartered

Offshore

Ulstein Verft Delivers 'Blue Queen’

On 24 February 2015, ‘Blue Queen’ a platform supply vessel of the PX121 design, was delivered to Blue Ship Invest from Ulstein Verft. This vessel is the first

Indonesia Upbeat Ahead of IORA Chair

Indonesia is gearing up to turn its foreign policy focus westward when its role as Indian Ocean Rim Association (IORA) chair begins later this year, reports Jakarta Post.

Petrobras Scandal About to Hit Brazil's Political Class

Brazil's top prosecutor is expected to file charges in coming days against politicians implicated in the Petrobras corruption scandal, a political bombshell that

Finance

Vard Increased Revenues 15.8% in 2014

Shipbuilder Vard Holdings Limited increased revenues 15.8% in 2014, the company announced in its year-end financial report today. On the back of very high activity

CGG to cut Vessel Fleet Further

French seismic group CGG said on Thursday it would further cut its fleet of seismic vessels after declining demand from oil and gas clients hit by the falling oil

Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather

Energy

Brookings Institution Hosting Panels on LNG Marine Fuel

The Brookings Institution, a Washington D.C.-based think tank, will host a two-panel discussion on the use of LNG as a marine fuel on Tuesday, March 3, the organization announced today.

CGG to cut Vessel Fleet Further

French seismic group CGG said on Thursday it would further cut its fleet of seismic vessels after declining demand from oil and gas clients hit by the falling oil

Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather

Vessels

Electronics Retrofit for Taiwanese Research Vessel

L-3 SAM Electronics has been awarded a contract to retrofit propulsion control and automation systems aboard the Taiwanese Navy’s Ta Kuan hydrographic and oceanographic research vessel.

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

RoRo Ship Enters Operation for WWL

Wallenius Wilhelmsen Logistics welcomes into operation the M/V Thermopylae, the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels.

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction 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: 0.2661 sec (4 req/sec)