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

People & Company News

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Italian Pleads Guilty to Marine-hose Price-fixing in US

A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Shipbuilding

Reps. Byrne and Palazzo Visit Ingalls Shipbuilding

Reps. Bradley Byrne, R-Ala., and Steven Palazzo, R-Miss., visited Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division Wednesday. The congressmen,

Damen Opens JV Yard in Vietnam

On March 20, 2014, Vietnamese Minister of Transport Nguyen Hong Truong, cut the ribbon for the latest addition to Damen Shipyard Group’s portfolio. Damen Song Cam is a new yard,

HHI to Deploy 3DEXPERIENCE Design Platform

Hyundai Heavy Industries Selects Marine & Offshore Industry Solution Experiences for Design and Engineering of Offshore Structures Dassault Systèmes, the 3DEXPERIENCE Company,

Offshore

Coast Guard groundbreaking ceremony recogizes new support facility

Representatives from the 14th Coast Guard District, Coast Guard Base Honolulu and Mortenson Federal Contracting Group participated in a groundbreaking ceremony

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Offshore O&G: Cuts, Delays in Norway as Costs Soar

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off,

Workboats

Scafi Expands Fleet with Italian Damen Tug

Damen is to construct a new ASD 3212 tug for Scafi, the Italian shipping group that includes a number of international towing companies. The contract cements their

Viking Welding Delivers Fire/Rescue Boats

Fire Departments in South Carolina and Minnesota have recently accepted delivery of Response FR-28 and FR-31J boats built of welded aluminum by Viking Welding & Fabrication in Kensington, N.

Offshore: Seacor Raises the Bar Again

Long acknowledged as a firm to watch in U.S. crewboat and fast supply boat innovation, Seacor Marine will be attracting industry attention once again when its latest

Ports

Petroecuador Tenders to Buy High Octane Naphtha

State-run Petroecuador has launched two tenders to buy a total of 22 cargoes, 240,000 barrels each, of high octane naphtha RON 87 and 93 for delivery starting on May 21-23,

DP World in Talks With Banks for $3b Loan

Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate,

Hong Kong Receive BMT Maritime Strategic Study

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, says it has completed a major strategic study - “Enhancing Hong Kong’s Position as an International Maritime Centre (IMC)”,

Finance

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Offshore O&G: Cuts, Delays in Norway as Costs Soar

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off,

Logistics

Imperial: Decision on Canadian LNG Project Distant

Imperial Oil Ltd said on Thursday it is not yet close to deciding on whether it will go ahead with a Canadian liquefied natural gas export plant it is exploring

No Lift for Konecranes as Q1 2014 Profit Slips

Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March 2014 operating profit,

GAO: Limited Commercial Arctic Development Foreseen

Decreasing seasonal sea ice has opened up Arctic waters for longer periods with resulting potential economic opportunities in commercial shipping, cruises, commercial fishing, oil, and mining.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics 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: 0.1488 sec (7 req/sec)