Rolls-Royce Marine H1 2013 Strong Revenue Increase

MarineLink.com
Friday, July 26, 2013
Image courtesy of Rolls-Royce

Revenue increased by 16%, reflecting OE volume from improvement in the Offshore sector, services growth in Offshore and Naval and foreign exchange benefits. However profit decreased by 8% due to adverse revenue mix, pricing pressures and warranty charges, partially offset by cost reduction and favourable foreign exchange.

The order book increased 10% including an order intake of £1.7bn (£2.2bn in H1 2012). The decrease in new orders primarily reflects the UK Ministry of Defence £1.1bn order for submarine reactor core capability in H1 2012, partially offset by the new £0.8bn enabling contract this year for the Ministry of Defence submarines.

Significant orders in the first half also included:

o A 10-year enabling contract with the MoD that will sustain up to 2,000 jobs in the UK and deliver up to £200 million savings to the MoD for nuclear propulsion systems for the UK's existing and future submarine flotilla.
o A contract with Detroit Chile SA for the delivery of offshore cranes to four platform supply vessels (PSVs) under construction at Detroit Brasil Ltda. shipyard, in Itajaì, Brazil.
o An £11m contract with the Brazilian shipyard Aliança S/A Industria Naval e Empresa de Navegacao, a subsidiary of Fischer Group, and Brazilian ship owner Asgaard Navegação S.A for the design of and delivery of equipment to two offshore vessels for Asgaard.
o A contract for the Promas integrated rudder and propulsion system with ship builder Fincantieri Cantieri Navali Italiani S.p.A for two cruise ships for Viking Cruises.
o A contract to supply our innovative Promas Lite propulsion system to German based company AIDA Cruises as part of a technical upgrade of their Sphinx series cruise ships.

 

Maritime Reporter November 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Krishnapatnam Port Wins Seatrade CSR Award

Widely recognized for excellence in Corporate Social Responsibility, Krishnapatnam Port Company Limited was declared winner of 2014 Seatrade Maritime Awards in

Tugboat Crew Missing After Collision

Five members of a tugboat crew are missing after a collision with a merchant ship about 9NM off Tanjung Gelang yesterday (30 October). One crew member was rescued by fishermen.

ClassNK Registered Al Kout Delivered to KOTC

Leading classification society ClassNK announced that it has completed work on the 165,178GT VLCC Al Kout, built by Daewoo Shipbuilding & Marine Engineering Co.

Marine Propulsion

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

MARAD Tests Alternative Power for Ships

The Maritime Administration (MARAD) is testing state-of-the-art, environmentally efficient technology onboard the Training Ship (TS) Kennedy.   The National Defense

Finance

Royal IHC Bags Dredging Package Order

Royal IHC (IHC) has secured a new contract with the Chinese shipyard, Jin Hai Heavy Industrial Group, for the delivery of a dredging installation package for a trailing suction hopper dredger.

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics 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: 0.2161 sec (5 req/sec)