Wilhelmsen Holdings Felt the Draught in Q2 2013

MarineLink.com
Thursday, August 08, 2013

Operating profit in the second quarter of 2013 was down compared with the second quarter of 2012 when the shipping industry was in less troubled circumstances.

Operating profit for the second quarter totalled USD 106 million (USD 139 million) based on a total income of USD 903 million (USD 972 million). Compared with the previous quarter, the operating profit was up 37% while the revenue increased 4%. The figures were down 23% and 7% respectively, when comparing with a historically strong period in the shipping segment in the second quarter of 2012.

“We have seen higher activity levels in our main business segments. The major driver is a 13% increase in volumes transported deep sea. Combined with a sound development in the cargo and trade mix and gains from operational efficiency initiatives, Wilh. Wilhelmsen ASA’s total income and operating profit improved by 6% and 22% respectively quarter on quarter,” says Thomas Wilhelmsen, group CEO in WWH, when summing up the second quarter.

He continued: "The income from our maritime services activities was stable quarter on quarter and up 37% in earnings lifted by a substantially stronger margin for ships services. The technical solutions area continued to grow with increased order intake, while ship management had a slight reduction in vessels on full technical management.”

Commenting on future prospects, Mr Wilhelmsen says: “We anticipate that volumes to be shipped by WWASA will remain at present level in the second half of the year. We will therefore continue to actively optimise and adjust tonnage to market demand. A generally weak shipping market impacts owners’ purchasing capabilities and put pressure on demand and operating margin, especially in the maritime services segment.

The gradual increase in newbuild ordering activity and the global merchant fleet is, however, expected to continue to drive demand for maritime services."

About the Group:

Wilh. Wilhelmsen ASA offers global car and ro-ro customers high quality sea transportation and integrated logistic solutions from factory to dealer through its operating companies.

The shipping segment in which the group’s and the joint venture’s shipping activities are carried out, includes shipowning, chartering, transportation and consultancy services. 

The logistics segment includes logistics services conducted by the group and the joint ventures such as terminal services, technical services, inland distribution and supply chain management. 

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

People & Company News

AEU Presents Safety Awards

The American Equity Underwriters, Inc. (AEU) presented its 2014 Safety Awards at the annual American Longshore Mutual Association, Ltd. (ALMA) Conference on July 19, 2015, in Key Biscayne, Fla.

Hapag-Lloyd Names Haeser Next CCO

Container shipping line Hapag-Lloyd AG’s supervisory board has appointed Thorsten Haeser as a new executive board member in charge of Hapag-Lloyd’s global sales

MARAD to Host Meeting on Proposed Delfin LNG License

MARAD Announces Public Scoping Meetings for Proposed Delfin Liquefied Natural Gas Deepwater Port Export Facility.   On July 29, the Maritime Administration

Finance

Substantial Demand Underscores Need for TIGER Grants

U.S. Transportation Secretary Anthony Foxx has announced that applications to the U.S. Department of Transportation for its seventh round of Transportation Investment

Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated

Intelsat Records $598 mln Q2 Revenue

Satellite services provider Intelsat S.A. has reported total revenue of $598.1 million and net income attributable to Intelsat S.A. of $60.2 million, or $0.47 per common share on a diluted basis,

RoRo

RoRo Launched for Royal Bahamas Defense Force

A Damen RoRo 5612 was launched this month at Halong Shipyard in Vietnam, the shipbuilder announced. The RoRo is one of nine Damen vessels ordered by the Royal

NYK Vessel Rescues 336 in the Mediterranean

On July 14, Hermes Leader, a car carrier operated by NYK Line, rescued 336 people in the Mediterranean Sea. On July 14, the vessel received an emergency

Egypt to Allow 24-hour Access to East Port Said with New Waterway

Egypt plans to allow smaller vessels in the Mediterranean direct access to East Port Said around the clock instead of just eight hours a day by building a side channel near the Suez Canal,

Logistics

Hapag-Lloyd Names Haeser Next CCO

Container shipping line Hapag-Lloyd AG’s supervisory board has appointed Thorsten Haeser as a new executive board member in charge of Hapag-Lloyd’s global sales

Legislation Introduced to Lift Cuba Embargo

A new piece of legislation, the Cuba Trade Act of 2015, was introduced in Congress Tuesday that aims to lift the Cuba embargo and allow for U.S. businesses in the

Maritime Experts to Debate Coastal Shipping, IWT Prospects

The opportunities and challenges faced by India’s coastal shipping industry as the country strives for a more optimal modal mix among various modes of transport

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
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: 0.1387 sec (7 req/sec)