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

People & Company News

Apply Now for the MN 100

The August 2015 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators,

Alfred Hartmann: New Captain on the Bridge at VDR

Shipping owner Alfred Hartmann is the new President of the Association of German Shipowners (VDR). For the first time a mid-size company owner is at the helm of the VDR,

VT Halter Powers Ahead

If you drive just south of I-10 in Pascagoula, Miss., within 10 minutes you find yourself on the doorstep of VT Halter Marine, arguably one of the more diverse and active shipyards in the U.

Finance

Oil Price Shock Soon to be Positive Overall for Canada

Canada's economy will start to show more positive effects from the drop in oil prices than negatives from the second quarter onwards, Bank of Canada Governor Stephen Poloz said on Friday.

Total Eyes Sale of its Fuel Retailing Business in Turkey

Total aims to exit its fuel distribution business in Turkey and has asked Societe Generale to lead the sale, sources said on Friday, as the French oil producer

MISC Says AET Tankers Unit Not for Sale

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers.

RoRo

VT Halter Powers Ahead

If you drive just south of I-10 in Pascagoula, Miss., within 10 minutes you find yourself on the doorstep of VT Halter Marine, arguably one of the more diverse and active shipyards in the U.

Post Panamax Car Carrier Enters Operation for WWL

Wallenius Wilhelmsen Logistics welcomed into operation the M/V Thermopylae, the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels.

Kalmar RoRo forklifts for Messina Line

Kalmar, part of Cargotec, has clinched a further order to supply seven new Kalmar DCE330-RORO units to the leading Italian shipping firm Messina Line (Ignazio Messina & C S.

Logistics

Kenya Eyes Inland Cargo Logistics Hub to Serve Nearby States

Kenya aims to build a cargo logistics hub near the border with Uganda to receive and clear goods through customs that arrive by air, rail or road, easing pressure

Baltic Index Inches Up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Friday on increased rates for bigger vessels.

Horizon's Hawaii Business Acquisition Cleared by DOJ

Horizon Lines, Inc. reported yesterday that, after a review by the Antitrust Division of the Department of Justice, Horizon's proposed sales transaction with The

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.1984 sec (5 req/sec)