Mooring And Loading Systems News

MacGregor is presently building its new Global Lifecycle Support organisation to develop and enhance customer service both in the merchant shipping and offshore markets. The installed base of MacGregor's product portfolio of strong MacGregor, Hatlapa, Porsgrunn, Pusnes and Triplex brands is extensive in both markets and MacGregor is strongly focusing on serving its customers well throughout the lifetime of the installations. MacGregor announces appointments of two new Vice Presidents to lead its front line operations and service competence centres globally. Nick White is appointed as Vice President, Global Field Services which is an elemental part of the new Global Lifecycle Support in MacGregor group to drive the development of frontline service operations.

Sales were NOK 11.4 billion in the fourth quarter of 2013, up from NOK 11.2 in the fourth quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1.06 billion in the quarter, compared with NOK 1.09 billion in the year-earlier period. The prior-year figure includes a gain of NOK 160 million from the sale of real estate. The EBITDA margin was 9.3 percent in the quarter versus 9.7 percent a year earlier. The prior-year margin was 8.4 percent excluding the sales gain.

Cargotec's MacGregor has completed the acquisition of the mooring and loading systems unit from Aker Solutions. Cargotec announced the agreement to acquire the unit in October 2013 for an enterprise value of approximately €180 million. The unit will be consolidated into MacGregor's results as of February 1, 2014. "The addition of the mooring and loading systems' team members, technologies and products further positions MacGregor as a true leader in the marine and offshore equipment market.

Aker Solutions ASA publish their third-quarter results 2013 showing a fairly even performance in the group's sectors, but in subsea widening its profit margin to 10.9 percent from 8.7 percent a year earlier. Sales were NOK 10.9 billion in the third quarter of 2013, compared with NOK 11.2 in the third quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1.07 billion in the quarter, compared with NOK 1.12 billion in the year-earlier period. The EBITDA margin was 9.8 percent in the quarter, compared with 10.1 percent a year earlier.

Aker Solutions today agreed to sell its mooring and loading systems business to Cargotec for an enterprise value of NOK 1.4 billion, or about €180 million. The unit, known for the Pusnes brand name, provides mooring equipment, loading and offloading systems, as well as deck machinery for the global offshore and shipping markets. Aker Solutions will book a gain of about NOK 1 billion from the sale. "The proceeds will be used to develop Aker Solutions' main business in the deepwater and subsea oil-services segments," says Øyvind Eriksen, executive chairman of Aker Solutions.

"The slow start to 2013 is truly disappointing," says Øyvind Eriksen, Executive Chairman of Aker Solutions ASA. Aker Solutions decided to disclose preliminary information on its financial performance in the first three months of 2013 as the results so far considerably lag current consensus market estimates. Aker Solutions expects to report revenue of NOK 11.1 billion and earnings before interest, tax, depreciation and amortisation (EBITDA) of NOK 868 million for the first quarter of 2013. The earnings were impacted by increased costs at the Ekofisk Zulu platform project as work was accelerated to ensure the platform will be transported from the Egersund yard to the Ekofisk field in mid-June and start producing oil by October 2013.

Aker Solutions has won two similar contracts, together worth approx. 120 million NOK, from CQG Oil & Gas Contractors Inc. and CCI Oil & Gas Contractors Inc., for the supply of Pusnes offloading systems(TM) to two FPSOs in the Brazilian market. The offloading systems will be installed on the two FPSOs P-58 and P-62, which are being converted and built for Petrobras. The two FPSOs are spread moored FPSOs, and will use the field proven Pusnes offloading system(TM) at both bow and aft ends.