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

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