Kvaerner Still Riding High Offshore in Q3 2013

MarineLink.com
Friday, October 25, 2013

Norway's Kvaerner report higher operating revenues, higher earnings and higher EBITDA margin in the third quarter of 2013 compared to last year.

Kvaerner reported operating revenues of NOK 3 383 million in the third quarter 2013, compared to NOK 2 430 million in the third quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 166 million, compared to NOK 109 million in the same quarter last year. The EBITDA margin was 4.9 percent, up from 4.5 percent in the third quarter 2012. The order backlog amounted to NOK 26.9 billion at the end of the third quarter.

"The activity in the third quarter has been very high on all projects. Our main focus is to deliver these projects as agreed with our customers. We have completed the last part of the Nordsee Ost project, which included 48 steel jackets for offshore windmills. Our capacity utilisation is very good through 2013 and into the first quarter of 2014," says Jan Arve Haugan, President & CEO of Kvaerner.

In addition to the high activity within project execution, Kvaerner is also in the process of implementing a series of initiatives to further strengthen efficiency and competitiveness.
 
In line with the dividend policy, a cash dividend of NOK 0.58 per share was paid in October 2013.

Full financial report available here: www.kvaerner.com
 

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

People & Company News

Sea Star Line: Equipment Replacement Plan on Track

Company Receives New Refrigerated Containers and Places Order for New Genset Equipment   Sea Star Line, LLC began receiving the first of its new 100 40’ and 45’

October Imports up 9% at Port of Oakland

Containerized imports shipped through the Port of Oakland were up 9.17% in October from a year ago, the port said, citing the surge as the biggest jump in import cargo volume in six months.

Atteridge Retires from Furuno USA

After 30 years of service to Furuno USA, Inc., Jim Atteridge is retiring as President and assuming a new role, as Director and Corporate Advisor. Effective December 1,

Shipbuilding

Everett College to Launch New Research Boat

Everett Community College’s Ocean Research College Academy (ORCA) will launch its new research vesel on November 22 with a celebration at 11 a.m. at the Port of Everett.

Video: Reefer RoRo Ship Design Rebooted

Expanding on the Reefer RoRo Ship design release in September last year, naval architects group Knud E. Hansen A/S has continued the development of the new Reefer RoRo Ship design with version II.

HHI to Build FSRU for Höegh LNG

A new Floating Storage and Regasification Unit (FSRU) will be built by the Korean shipbuilding Company Hyundai Heavy Industries (HHI). This FSRU will be the fifth

Offshore

China Building Island Big Enough for Airstrip

Satellite images show China is building an island on a reef in the disputed Spratly Islands large enough to accommodate what could be its first offshore airstrip in the South China Sea,

Update: Explosion in the Gulf of Mexico

An explosion occurred aboard a production platform Thursday at West Delta 105, operated by Fieldwood Energy, resulting in one fatality and three injured. The Bureau

Deepwater Semi-Sub COSL Prospector Delivered

COSLProspector, the fourth deep-water semi-submersible drilling rig built by CIMC Raffles for China Oilfield Services Limited (COSL), has been delivered in Yantai, Shandong Province.

Finance

Cost to Fuel Ships Falls

For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as $1 million a year if current price level stay put. Assuming

Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs)

Belgian Strike to Impact Antwerp Port

A strike in parts of Belgium on Monday is expected to disrupt rail services and one of Europe's largest ports as trade unions and workers voice their anger over

Offshore Energy

Update: Explosion in the Gulf of Mexico

An explosion occurred aboard a production platform Thursday at West Delta 105, operated by Fieldwood Energy, resulting in one fatality and three injured. The Bureau

Deepwater Semi-Sub COSL Prospector Delivered

COSLProspector, the fourth deep-water semi-submersible drilling rig built by CIMC Raffles for China Oilfield Services Limited (COSL), has been delivered in Yantai, Shandong Province.

New Tidal Wave Energy Device Completes Sea Trials

In the continuing quest to harvest efficient, renewable energy from the power of the world’s tides, an organization called Sustainable Marine Energy’s announced

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Sonar
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: 0.1680 sec (6 req/sec)