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

People & Company News

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

Finance

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Shipbuilding Regulations: Cents and Sensibility

Addressing the Jones Act is just one aspect of an increasingly complicated boatbuilding environment. Stovepiped, poorly conceived regulations is another. The sting of the recession is fading,

Ship Broker Clarkson Looks to Acquire Platou

Top ship broker Clarkson is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create

RoRo

EU Backs Nantes St-Nazaire and Vigo Transport Link

The EU's TEN-T Program will back the upgrade of the existing sea line between Nantes St-Nazaire, France and Vigo, Spain with over €3.5 million to ensure reliable

Video: Reefer RoRo Ship Design Rebooted

Expanding on the Reefer RoRo Ship design release in September last year, naval architects group Knud E. Hansen A/S has continued the development of the new Reefer RoRo Ship design with version II.

Energy Storage System Ordered for LNG Battery Hybrid Ferry

Norwegian hybrid to be the first LNG battery ferry to operate on commercial routes Corvus Energy, Siemens AS and Fjord1 have announced the award of the contract for the Fannefjord LNG hybrid ferry.

Logistics

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Vacant Pier to Help Ease Long Beach Congestion

Pier S temporary depot to relocate empty containers for next five months    The Port of Long Beach expects a “Temporary Empty Container Depot” planned for a vacant

Russian Liftings for Western Options at 12-Year Low

By Gleb Gorodyankin MOSCOW, Nov 25 (Reuters) - Exports of Russian crude oil to Western markets are set to fall by almost a third in December and reach a 12-year

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1971 sec (5 req/sec)