Brazil's Wilson, Sons, Record Increase in Towage, Offshore Business in Q1 2012

Press Release
Wednesday, May 16, 2012

Wilson, Sons report increase in towage, offshore revenues during first quarter 2012

The Company recorded Net Revenues of USD 157.2M, in line with 1Q11 figures. There was, however, healthy increase in Towage (up 34,9%) and Offshore (up 12,5%), due to better pricing and an increase in the number of vessels in operation.

Currently, the Company has 3 tugboats and 5 PSVs in different phases of construction at the Guaruja Shipyard. The strategy to increase and renew its fleet is part of the Company's desire to meet the demand in the oil & gas industry and international trade flow.

The new Guaruja II shipyard, the new Offshore and Towage vessels, and Tecon Salvador's expansion works are the major contributors to the quarterly CAPEX of USD 43.0M.
"2012 is a year to celebrate the expansion of Tecon Salvador and Guaruja II Shipyard: the first will increase the present capacity from 300,000 to 530,000 TEU per year; the second will increase the processed steel capacity from 4,500 to 10,000 tons per year", said Cezar Baiao, CEO of Operations in Brazil.

The quarter saw a decrease of 28.3% in YoY EBITDA mainly due to the end of the Petrobras public port operations in Rio de Janeiro in October 2011 and represented approximately 30% of Brasco's 1Q11 EBITDA, and to the negative impact of the Long-Term Incentive Plan, which had been positive in 1Q11 and was negative in 1Q12, therefore recording a net variation of US$ -11.1M. Furthermore, the Logistics business discontinued 10 low-margin operations, and the Salvador port terminal was constrained by its on-going expansion works.


 

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

People & Company News

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

Shipbuilding

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Newport News Lays Keel for Virginia-Class Sub

Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII), hosted a keel-laying ceremony Saturday for the future USS Washington (SSN 787), a

Offshore

Pile Testing for Wikinger Wind Farm Launched

In October 2014 the first phase of the pile testing campaign for the Wikinger offshore wind farm project was launched after the site’s geotechnical investigation on the Baltic Sea had been completed.

Damen, Palfinger Upgrade North Sea Jack-Up Rig

With the support of Palfinger systems JUMP technology, Damen Shiprepair Vlissingen has completed an upgrade of a Keppel Fels ‘N’ Class drilling rig, one of the largest in the North Sea,

Vietnam Warship Visits Underscore Regional Tension

Vietnam on Tuesday showed off its two most powerful warships in the first-ever port call to the Philippines but an official said it was not trying to challenge

Workboats

The Legal Consequences of 46 CFR Subchapter “M”

As the holiday season and the end of another year quickly approaches, the towing industry patiently waits for the Coast Guard to finalize the long-awaited towing vessel inspection rule.

Editorial: 75, 150 ... What’s in a Number?

It is not often that I break out the tux for my editorial picture, but this special edition dictates. I know that I should argue that all of our editions are special,

Brunswick Updates IMPACT Model Vessels

Brunswick Commercial & Government Products (BCGP) introduces 2015 model year updates to the 10-, 11- and 12-meter IMPACT models. Updates include a wider beam for more usable deck space,

Ports

Vacant Pier to Help Ease Long Beach Congestion

Pier S temporary depot to relocate empty containers for next five months    The Port of Long Beach expects a “Temporary Empty Container Depot” planned for a vacant

Vietnam Warship Visits Underscore Regional Tension

Vietnam on Tuesday showed off its two most powerful warships in the first-ever port call to the Philippines but an official said it was not trying to challenge

Vacant Pier at Long Beach Port to Ease Congestion

The Port of Long Beach expects a “Temporary Empty Container Depot” planned for a vacant pier on Terminal Island to be open and operating in December, which will

Finance

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Shipbuilding Regulations: Cents and Sensibility

Addressing the Jones Act is just one aspect of an increasingly complicated boatbuilding environment. Stovepiped, poorly conceived regulations is another. The sting of the recession is fading,

Ship Broker Clarkson Looks to Acquire Platou

Top ship broker Clarkson is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Ship Electronics Ship Repair Ship Simulators 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: 0.1865 sec (5 req/sec)