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

People & Company News

Ship as Lifeboat Concept Disputed by ICV

A recent meeting at the National Transportation Safety Board in Washington, D.C. (attended by International Cruise Victims (ICV) Board representatives) discussed

McDermott Elect G.P. Luquette Board Chairman

Provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide, McDermott International, say that Gary P.

Ill-Considered Energy Policies Threaten US Navy: Report

The United States government has pursued energy policies based on “the mistaken belief in the unproven science that claims carbon dioxide (CO2) emissions from burning

Finance

Korean Prosecutors Raid Home of Ferry's Owner

Prosecutors investigating the fatal sinking of a South Korean ferry have raided the home of Yoo Byung-un, the head of a family that owns the Chonghaejin Marine Co.

UK Subsidises 8 Renewable Energy Contracts

The British government on Wednesday awarded investment contracts under a new subsidy regime to eight renewable energy projects, including five offshore wind farms and three biomass plants.

Two Navy Contracts for GD Bath Iron Works

Included in the latest listing of contracts awarded by the US Department of Defense, Navy, are two contracts with General Dynamics Bath Iron Works, Bath, Maine.

RoRo

AMSEA Awarded US$33-Million Navy MSC Contract

General Dynamics American Overseas Marine LLC (AMSEA) apprises it has been awarded the USD$32.7 million contract modification to operate and maintain seven large,

Novorossiysk: New Tonnage Dues Rates

GAC informs that tonnage dues rates in the port of Novorossiysk will be increased about 9% with effect from April 27, 2014. The rate increases are as follows: Tankers - Rates in force: 2.

ISC Expects Faltering Q1 2014 Financial Results

International Shipholding Corporation (ISC) provides preliminary guidance for first quarter 2014 results and announces timing of earnings release and conference call.

Logistics

AMSEA Awarded US$33-Million Navy MSC Contract

General Dynamics American Overseas Marine LLC (AMSEA) apprises it has been awarded the USD$32.7 million contract modification to operate and maintain seven large,

Brazilian Soybeans Sold to China Bound for US

Two Brazilian soybean cargoes sold by Japan's Marubeni Corp that were initially sold to China have been switched to the United States, according to port and shipping data updated on Tuesday,

New Scheduled International Cargo Shipping Service

The U.S. Department of Transportation’s Saint Lawrence Seaway Development Corporation (SLSDC) today joined the Port of Cleveland in announcing the launch of the

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Repair Sonar Winch
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: 0.1037 sec (10 req/sec)