SatCom Povider Immarsat Reports Growth in Maritime Data Revenue

Press Release
Wednesday, May 09, 2012

Immarsat plc issues an Interim Management Statement on Q1 2012 reults, reports growth in marine data provision revenue

Excerpts relevant to the marine sector of the business are as follows:

Rupert Pearce, Inmarsat's Chief Executive Officer, said: "The results for the first quarter are in line with our expectations and give us confidence in our outlook. Strong subscriber growth of over 10% in the first quarter continues to underpin our expectations for improved results in 2012. In addition, we are encouraged by rapidly developing market interest in our XpressLink service and in the partnerships we are forming for our Global Xpress service."

Growth in our maritime data revenue resulted primarily from the impact of pricing initiatives, in particular as a result of the elimination of volume discounts previously available for older services where we are encouraging customer migration to our FleetBroadband service.

In addition, we added 2,010 FleetBroadband terminals during the quarter, showing that take up of this service remains strong. Although maritime voice revenue was down year over year, this is largely due to the impact of voice price reductions implemented in the second quarter of 2011. While economic conditions in shipping remain challenging, we remain comfortable with the customer usage trends we are seeing and have a positive outlook for our maritime business in 2012.

Interest in our XpressLink service also continues to build rapidly and we recently announced the appointment of a number of leading maritime communications specialists as dealers for this important new service. Some of these dealers have already concluded agreements with shipping companies to purchase XpressLink. XpressLink is a unique hybrid service combining FleetBroadband with Ku-band connectivity for a fixed monthly price. We believe XpressLink will gain meaningful market traction during 2012 and will contribute to revenue reported for our Inmarsat Solutions business.


People & Company News

MN100: Klüber Lubrication NA LP

The Company: Klüber Lubrication is one of the world’s leading manufacturers of specialty lubricants, offering high-end tribological solutions to virtually all industries and markets worldwide.

Grand Bahama Shipyard Adds Four Executives

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four

MN100: Voith Turbo

The Company: Voith Turbo specializes in the design, manufacture and servicing of high performance driveline equipment. From drive components to electronic drive systems,

Marine Electronics

Hoppe Marine to Present Smart Shipping Solutions

For decades, Hamburg-based Hoppe Marine has produced onboard measuring and control systems. At SMM 2016 the internationally-positioned family-run company will be

US Coast Guard Announces Final TWIC Rule

The U.S. Coast Guard announced Tuesday the publication of the final rule concerning Transportation Worker Identification Credential (TWIC) reader requirements. The

MN100: Baker, Lyman & Co., Inc.

The Company: A wheelhouse favorite for generations, Baker, Lyman & Co. is the oldest NOAA & Admiralty Chart Agent in the United States. Baker Lyman has been provisioning vessels with nautical charts,

Finance

Singapore's SembMarine to Take Full Control of PPL Shipyard

Singaporean rig builder Sembcorp Marine Ltd said it had agreed to buy the 15 percent of PPL Shipyard Pte Ltd it did not already own for about $115 million from

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

Investors to Acquire $1.5 bln Shipping Portfolio from NORD/LB

NORD/LB Norddeutsche Landesbank and KKR Credit have reached an agreement by which, subject to completion of certain conditions precedents, KKR Credit, together

Communication

USCG Evaluates Comms Equipment in Alaska

Coast Guard Research and Development Center evaluates state-of-the-art communications equipment and Next Generation Incident Command System in Alaska   At nearly 663,

Connected Ships, Smart Data, Cybersecurity to Feature in SHIPPINGInsight

Ship connectivity, smart data and cybersecurity will be central themes on the agenda at the fifth SHIPPINGInsight Fleet Optimization Conference & Exhibition. The

Nakilat Upgrades VSAT Service for LNG/LPG Fleet

Nakilat, the shipping arm of Qatar’s liquefied natural gas sector, has entered into a contract with Global Eagle Entertainment Inc.’s Emerging Markets Communications

SatCom

Connected Ships, Smart Data, Cybersecurity to Feature in SHIPPINGInsight

Ship connectivity, smart data and cybersecurity will be central themes on the agenda at the fifth SHIPPINGInsight Fleet Optimization Conference & Exhibition. The

Nakilat Upgrades VSAT Service for LNG/LPG Fleet

Nakilat, the shipping arm of Qatar’s liquefied natural gas sector, has entered into a contract with Global Eagle Entertainment Inc.’s Emerging Markets Communications

Lerwick Port Launches Latest VMS

Lerwick Port Authority have inaugurated a new Vessel Monitoring System (VMS) which utilises the latest technology to improve the handling of ship movements at the busy Shetland port.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1049 sec (10 req/sec)