Maersk Supply Ships Q3 2013 Profits Soar

MarineLink.com
Wednesday, November 20, 2013
A Maersk OSV: Image courtesy of Maersk

Maersk Supply, a subsidiary of the A. P. Moller-Maersk group, came out of the third quarter of 2013 with a profit of US$76-million, against a profit of US$ 48-million in the same quarter in 2012. Revenue rose from US$ 226-million in the period of 2012 to US$ 240 million.

The profit for the third quarter of 2013 improved compared to the same period last year primarily due to higher utilization and lower operating costs.



Contract coverage for the remainder of 2013 is 79 percent and 51 percent for 2014, excluding options.

The spot market in the North Sea remained volatile during the third quarter, when rates increased compared to the previous quarter and the same period last year for both large anchor handling vessels ( AHTS ) and supply vessels to platforms (PSV).



The international activity varied from region to region, where large PSV's were sought in West Africa and the North Sea, and a number were chartered in Australia. Maersk Supply Service's activity in these regions has increased compared to last year, with a number of contract renewals and new contracts signed in Brazil, West Africa, Australia and the North Sea for AHTS, PSV and other subsea support segments.

Source:  A. P. Moller-Maersk/Maritime Denmark

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

CMID Reaches 100th Vessel Inspector Application

The CMID (Common Marine Inspection Document) Vessel Inspector Scheme has reached a milestone with the hundredth Vessel Inspector application having been received.

Offshore

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

Subsea 7 Bags $150 million Offshore UK Contract Maersk

Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea.

Finance

Dry Bulk Recovery Still a Long Way Off

The dry bulk shipping market will remain in recession due to contracting demand for iron ore and coal, and any recovery is not expected until 2017, according to

Egypt Picks Jordan LNG Cargo Winners

Egypt has picked Shell, Vitol and Trafigura in a tender to supply four cargoes of liquefied natural gas (LNG) via Jordan's Aqaba import terminal, trade sources said.

Cameroon Awards Kribi Deepwater Contract

Cameroon has awarded a contract for its Kribi port to a consortium led by French logistics group Necotrans, the two parties said. The deepwater port will allow

Vessels

Historic Steamship Towed to Buffalo for Restoration

A 113-year-old “Boblo Boat” SS Columbia is being towed from Toledo, Ohio to Buffalo, N.Y., where the historic vessel will be docked for the next year for restoration.

New Cutter Suction Dredge: Modern and Efficient

Ellicott Dredges, LLC has debuted a new design 20” (500 mm) cutter suction dredge, the Series 2070 Dragon dredge.    Aiming to take advantage of modern, up-to-date

Boat with 40 African Migrants Arrives on Spanish Island

A boat containing around 40 African migrants including a toddler girl landed on a beach on the Spanish island of Gran Canaria, sea rescue services said on Wednesday.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.4373 sec (2 req/sec)