Marine Rebound Strengthens RINA Results

By Mcihelle Howard
Monday, June 09, 2014
Ugo Salerno

International engineering, testing, certification and classification group RINA has reported improved results for 2013. Its performance was strengthened by an upturn in marine activities and a drive to improve efficiency and drive down costs.

RINA turnover for 2013 increased 4% to €294 million, while EBITDA was up 6% to €37.2 million.

Ugo Salerno, RINA Chairman and CEO said, “Returning confidence in the global marine markets and a new management team which took on their responsibilities with enthusiasm at all levels meant the group exceeded expectations in 2013. In 2013 we passed a turning point, both for RINA and for the global economy. We saw confidence returning across almost all sectors and in all regions of the global economy. Crucially, we also saw confidence building in RINA’s ability to take advantage of the opportunities which the improving economy presents.”

In the ship classification sector RINA Services’ classed fleet grew to 4,761 vessels totaling 33.5 million gt. The fleet ended the year well balanced across the bulk, tanker and passenger sectors. 231 new ships built to RINA class totaling 6.1 million gt joined the classed fleet. Shipowners who had experienced RINA’s service moved significant numbers of ships in service into RINA class during 2013. These included 21 Chinese-owned vessels and 79 Greek-owned vessels.

Shipowners responding to better markets began ordering ships again and that strengthened RINA Services’ order book worldwide. The year ended with RINA Services’ newbuilding order book totalling 650 ships of 4.8 million gt. Twenty-five of these are passenger vessels, including some major cruise ships.

Of special interest were new orders for two 620-passenger 40,350 gt cruise ships to be built at Fincantieri for Seabourn Cruises and Silverseas under RINA Class and two 3,500-passenger 124,000 gt cruise ships to be built at MHI, Japan for Costa/Aida, with dual RINA/DNV-GL class.

Salerno said, “Outside the marine sector we had a busy year of growth and diversification. That led to the acquisition of two smaller certification businesses, and at the year end, to taking a major shareholding in CSM, a leading material’s technology company. CSM gives RINA high level skills and technologies in testing, analysis and materials which will serve us across all industries, especially oil and gas. Further growth through acquisition is expected for 2014 following an initial investment of €25 million into the group in 2014 by Intesa Sanpaolo and VEI Capital.”

RINA also bore down on costs and improved internal performance during 2013. Salerno said, “Clarity in our structure is an important component of growth. It enables all our colleagues to see their responsibilities clearly and it enables us to drive the exact services our clients need to where they need them. That is why we made a clear division during 2013 between our E and TIC services. All our consulting Engineering services were consolidated under the D’Appolonia brand and all our Testing, Inspection and Certification services are concentrated under RINA Services and its subsidiaries. That clarity helps us streamline our processes and makes it easier for clients to find the service they need.”

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

People & Company News

QinetiQ Signs Contract with ASV

QinetiQ, as part of a new Marine Surface Target Service, has signed a contract with Autonomous Surface Vehicles (ASV) for the supply and operational support of autonomous surface target vessels.

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Bollinger to Build 6 More FRCs for the USCG

Bollinger Shipyards, Inc., Lockport, Louisiana, announced the award of six additional USCG Sentinel Class Fast Response Cutters (FRCs). The U. S. Coast Guard

Technology

ABS, MPA to Collaborate on Maritime R&D

ABS and the Maritime and Port Authority of Singapore (MPA) signed a memorandum of understanding (MOU) today to promote maritime research and development (R&D) and innovation.

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Maritime NZ Oil Spill Response Review: Submissions

Maritime New Zealand (MNZ) says it invites submissions on its draft updated New Zealand Marine Oil Spill Response Strategy 2014 (the draft Strategy). The draft Strategy, (available at http://bit.

Shipbuilding

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Volvo Penta Diesel Sterndrives for Metal Shark Patrol Boats

Metal Shark now offers Volvo Penta diesel sterndrives in its 29 Defiant patrol boats for customers requiring optimum performance, durability and maneuverability.

More VDR Orders for Danelec in China

Danelec Marine has received orders to supply Voyage Data Recorders (VDRs) and Electronic Chart Display and Information Systems (ECDIS) for 18 offshore support vessels in China.

Finance

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

Thome Is the First to Sign up to IMPA Act

Leading integrated ship management service provider Thome Ship Management has become the first ship management company to join IMPA ACT, the responsible supply chain management initiative,

Legislation Grants Funding for EU's EMSA

EU Council Adopts Regulation on EMSA Funding The European Union Council adopted a regulation yesterday to finance the actions of the European Maritime Safety

Marine Materials

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

New Crewboat Design for Offshore O&G Market

Upgraded crewboat design employs carbon-reinforced composite materials and is lighter, faster and more fuel-efficient than alternatives. Marine Oil Transportation

Rosneft to Monitor Marine Fauna in Northern Sea Route

OAO NK Rosneft will conduct marine fauna monitoring in the Northern Sea Route in 2014. The studies will be organized by the Arctic Research Center, a joint venture of Rosneft and ExxonMobil.

News

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

Iraqi Kurdish Oil Nears US Port Despite Concern in Washington

A tanker carrying crude oil from Iraqi Kurdistan is just two days away from arriving at a U.S. port, according to ship tracking satellites, despite Washington's

Phillips 66 Marine Fueling Facility Nears Completion

Phillips 66’s previously announced marine over-the-water fueling facility at its Richmond, Calif. terminal is nearing completion. The facility, located on Canal Boulevard, and known as Pier No.

Vessels

QinetiQ Signs Contract with ASV

QinetiQ, as part of a new Marine Surface Target Service, has signed a contract with Autonomous Surface Vehicles (ASV) for the supply and operational support of autonomous surface target vessels.

Volvo Penta Diesel Sterndrives for Metal Shark Patrol Boats

Metal Shark now offers Volvo Penta diesel sterndrives in its 29 Defiant patrol boats for customers requiring optimum performance, durability and maneuverability.

Wilhelmsen Secures Inert Gas System Orders

Breakthrough order in Japanese shipbuilding market sees largest ever capacity Maritime Protection IG units delivered for leading domestic owners. Wilhelmsen

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction 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: 0.3489 sec (3 req/sec)