Swiber Holdings Report Profit Surge
Singapore-based offshore energy group Swiber Holdings issues its Q2 & HY 2012 financial report. Swiber Holdings provide offshore construction, offshore marine, subsea & offshore development services. 2Q 2012 highlights: Net Profit surges 66.0% to US$20.9 million Revenue rises 27.1% to US$229.6 million HY 2012 highlights: Net Profit rose 36.9% to US$33.5 million Revenue increases 28.0% to US$424.0 million Record order book of approximately US$1.6 billion, expected to contribute to Group’s results over the next two years Swiber considers that its strengthened capabilities places them in the big league, well placed for large contract wins.
Mitsui Publishes FY2012 Results.
Mitsui O.S.K. Lines, Ltd. released its FY 2012 financial results. The full report can be viewed here. www.mol.co.jp
Baltic Sea Shipping Company Increases Profits in Q1 2012
AS Tallink Grupp announce unaudited net profit in second quarter 2012 increased by 47%. AS Tallink Grupp is one of the largest ferry companies in the region, operating six routes between Finland, Sweden, Estonia and Latvia. The company has over 9 million passengers annually (2010/2011) and employs 6800 people. The leading shipping company on the Baltic Sea, AS Tallink Grupp announce that the company has increased the unaudited net profit of second quarter by 47 percent, reaching 20 million Euros. The revenue of the second quarter of the current financial year increased by almost 7 million Euros or 3 percent to total 244.8 million Euros.
Shipbuilders 'Get on Your Marks' as Cruise Line Ponders New Order
Royal Caribbean chairman hints that new ship order is possible. During the Royal Caribbean second quarter 2012 financial results conference call, Royal Caribbean chairman hinted at the possibility that Royal Caribbean could order a new ship for either Royal Caribbean or its sister company, Celebrity Cruises. Royal Caribbean Chairman Richard Fain spoke about the possibility, "We clearly are looking at that sort of thing. "From 2012 through 2016, our berth capacity growth is less than 3%, and in fact, we don't have any ship deliveries in 2013 at all," he said. "But as we said before, we also can't stagnate.
Fincantieri's First Half 2012 Results Confirm Positive Strengths
Giuseppe Bono, Fincantieri Chief Executive Officer, commented: "We are pleased with these results, giving cause for optimism to the company and its employees. The ongoing reorganization process, initiated thanks to an agreement with the unions and the government, is proving its worth.
Tsakos Deliver Greek DP2 Shuttle Tanker
Tsakos Energy Navigation Limited – product, crude and LNG tanker operator – delivered the fully-coated DP2 shuttle tanker, the first of its kind internationally to fly the Greek flag, with a carrying capacity of 157,000 dwt, Rio 2016. The delivery was attended by the Greek Minister of Mercantile Marine accompanied by the Ambassadors of Greece in South Korea and the Philippines together with dignitaries representing the local authorities. The second sister shuttle tanker, the Brasil 2014, is scheduled to be delivered in April 2013. Both vessels have secured 15-year employments with a national oil major that are expected to generate $520 million in gross revenues over the corresponding periods.
NAT Weathering a Weak Shipping Market
Nordic American Tankers Limited (NAT) publishes its Q4 2012 financial report. In 2012, NAT improved its relative position within the industry despite a weak market. By retaining a strong balance sheet throughout 2012, NAT is able to consider expanding its fleet at a time when tankers are at historically attractive price levels. Nordic American has one type of vessel only - the Suezmax size tankship which can carry one million barrels of oil. The Suezmax vessel is highly versatile, able to be utilized on most long-haul trade routes. A homogenous fleet streamlines operating and administration costs, which helps keep cash-breakeven point low. As announced last month, NAT is paying a dividend of $0.16 a share for the fourth quarter 2012.
Port Metro Vancouver: Pats on the Back
“Port Metro Vancouver is seeking ways to engage with communities and improve the Port and region’s long-term sustainability,” said Robin Silvester, President and Chief Executive Officer, Port Metro Vancouver. “This Gateway must thrive so that we can continue to support the B.C. • Affirmation from Standard & Poor’s of our AA credit rating, for the third consecutive year. • Operating revenues increased by three per cent to a record of $186 million. • We secured a new five-year loan agreement to ensure liquidity for our capital needs. • Completion of two Gateway Infrastructure Fee projects on time and on budget: the Lynn Creek Rail Bridge in North Vancouver and the 80th Street Rail Overpass in Delta.
Fincantieri 2012 Profits Up on Previous Year
Shipbuilders, Fincantieri, publish its 2012 financial results; announce resignation of Chairman Corrado Antonini. · Order portfolio at euro 7,817 million (euro 8,361 million in 2011). Commercially, Fincantieri succeeded in making the best of the available opportunities, finalizing agreements for new orders, including options, worth a total of euro 6.5 billion. This figure includes euro 1.4 billion in finalized contracts, while the remaining agreements are all subject to finalization of the related financial packages. In particular, in the merchant vessels business unit, contracts were signed for the construction of two cruise…
Matson Report Increased Operating Income in Q2 2012
Matson, Inc. announces its second quarter 2012 financial results. The financial results for the second quarter and first six months of 2012 reflect Matson's separation from its former parent corporation, Alexander & Baldwin, Inc., on June 29, 2012. The separation of Matson from A&B was originally announced on December 1, 2011. Commenting on the quarter, President and Chief Executive Officer Matt Cox said, "While we are reporting improved operating income for the second quarter compared with last year, the financial performance of our businesses continues to be mixed with weaker Hawaii freight volume more than offset by improved volume in Guam and improved freight rates in China.
Conrad Profits Up in Q3 2012
US-based shipyard Conrad Industries Inc. announce third quarter and 9 months ended 30, Sept. 2012 financial results and backlog. For the quarter ended September 30, 2012, Conrad had net income of $4.4 million and earnings per diluted share of $0.74 compared to net income of $3.5 million and earnings per diluted share of $0.54 during the third quarter of 2011. The Company had net income of $12.9 million and earnings per diluted share of $2.13 for the nine months ended September 30, 2012 compared to net income of $12.4 million and earnings per diluted share of $1.93 for the nine months ended September 30, 2011. During the first nine months of 2012…
Horizon Lines' Jones Act Ships for Asian Drydocking
Horizon Lines reports Q! "Horizon Lines generated slightly improved revenue container volume and higher EBITDA and adjusted EBITDA in the first quarter relative to a year ago, despite challenges that included severe winter weather in Alaska, higher fuel prices and increased expenses," said Stephen H. Fraser, interim President and Chief Executive Officer. "Hawaii's performance improved significantly on solid customer support and an improving economy. Alaska's results were also better despite record cold and snowfall, which had a significant, adverse impact on customer demand and operations. Alaska was buoyed in part by domestic southbound volume that was driven by a strong seafood market.
A Container Ship Owner Who Got 2012 Right
"As we close the 2012 books, we have every reason to be satisfied with the Trust’s positive results," says Rickmers chairman. Extracts from chairman, Bertram R.C. The business performed well operationally, with all sixteen [container] vessels generating strong revenues. Rickmers Maritime, being specifically structured around long-term fixed-rate time charter contracts, is largely insulated from the renewed pressure on time charter rates. The challenges to our industry are by no means over.
ABB Reports Steady Orders, Higher Revenues in Q3 2012
ABB report solid performance in an uncertain market in its third quarter 2012 financial report. • Thomas & Betts contributed approx. ABB reported steady orders and higher revenues2 in the third quarter of 2012 despite a challenging macroeconomic environment, as the company benefited from its well-balanced market exposure, especially the improved access to the North American automation market gained through recent acquisitions. Power orders were lower than the year-earlier period, which included a large offshore wind order. Excluding that order, power orders rose 10 percent, driven by utility and industry investments in power transmission.
SeaHold GEOSHIPS Adds Two New Offshore Vessels
SeaHold GEOSHIPS expanded its fleet of multi-purpose offshore vessels. The two new vessels ‘Loch Erisort’ and ‘Loch Roag’ brings the Aberdeen-based firm’s fleet up to three, while also signifying a $140m in additional financial commitment. The new vessels, which are both of Vik & Sandvik VS470 design will be delivered in Quarter 1 2012 and Quarter 4 2012 respectively and are actively being promoted to the Oil and Gas market for long-term work. Specified as multi-purpose support vessels…
Nordic Conglomerate Posts 2012 Loss, Renegotiates Loan Terms
Scana lndustrier ASA, supplier of products & system solutions to energy-related businesses, including the offshore sector has released its 2012 financial report. Scana lndustrier ASA has companies in Norway, Sweden, China, U.S., Poland, Singapore, Brazil and South Korea with the Group’s head office in Stavanger. Their key business is supplying products and system solutions to energy-related businesses. This encompasses oil and gas, other energy and marine businesses related to the offshore market. Global recession caused a reduction in revenue in 2009 and 2010. 2011 did show a slight increase in revenue and 2012 ended on the same level as 2011. Revenue amounted to NOK 2,039 million with an operating loss of NOK 152 million.
US Shipbuilder Holds Course in 2012
Conrad Industries announces its 2012 financial results and also the addition of new business during Q1 2013. For the quarter ended December 31, 2012, Conrad had net income of $8.0 million and earnings per diluted share of $1.33 compared to net income of $6.8 million and earnings per diluted share of $1.09 during the fourth quarter of 2011. The Company had net income of $20.8 million and earnings per diluted share of $3.46 for the twelve months ended December 31, 2012 compared to net income of $19.2 million and earnings per diluted share of $3.01 for the twelve months ended December 31, 2011. The diluted shares for the quarter and twelve months ended December 31, 2012 are 6.0 million, and 6.2 million and 6.4 million for the quarter and twelve months ended December 31, 2011, respectively.
Earnings Advance at Ace Winches
ACE Winches announced post tax profits of £6.2m for 2012, a 15% increase on the previous year. Turnover at the Aberdeenshire-based group soared to £31.1m in the year ended October 31, 2012, a 42% increase on the previous twelve months, with around three-quarters (74%) of the company’s business generated from international trade. ACE Winches is a company in the design, manufacture and hire of winches, marine deck machinery and the provision of associated hire personnel for the offshore oil and gas, marine and renewable energy industries.
Efficiency Improvements Defray NOL Financial Loss
Container shipping & logistics group Neptune Orient Lines (NOL) publishes it year 2012 financial report. The Group posted a full year net loss of US$419 million, mainly due to a first quarter net loss (before non-recurring items) of US$255 million and one-time charges of US$108 million. Singapore-based NOL also said that its efficiency programme delivered US$504 million of cost savings, which is in line with its 2012 target. The savings were primarily achieved through reduced fuel consumption, network optimization and increased terminal productivity. APL, NOL Group’s liner shipping business, improved its performance in 2012 by US$167 million to report a Core EBIT loss of US$279 million.
Tognum Confirms 2012 Financial Forecast
Tognum, at the end of the first quarter, has confirmed its forecast for the full-year 2012. The company continues to expect a single-digit percentage growth in revenues and an adjusted return on sales of over ten per cent. “As a result of an order backlog that remains strong at over two billion euros, we are confident that we will achieve our targets for the 2012 financial year,” said Joachim Coers, CEO of Tognum AG. The order intake in the first three months of 2012 was solid at €771.5 million (Q1 2011: €817.9 million). Revenues were up 3.6% compared with the same quarter last year to €685.3 million (Q1 2011: €661.4 million). The adjusted EBIT was down 5.8% to €67.7 million (Q1 2011: €71.9 million). The decline results primarily from a scheduled increase in R&D expenditure.
Konecranes Look Back on a Good Year
Konecranes PLC issues its Q4 and full year 2012 financial statement and bulletin. I am pleased with many aspects of our performance in 2012. In a marketplace where uncertainty and customers' hesitation to make decisions has become the new norm, a 14 percent growth in sales to a new record level of EUR 2,170 million was a good achievement. Operating profit before restructuring costs rose by 18 percent to EUR 138 million and earnings per share 32 percent to EUR 1.46. Cash flow was strong, reducing our gearing to below 40 percent. All in all, 2012 was a good year, but we aim higher. A year ago, we decided that our service business should prioritize profitability over growth in the short term.
Euronav Reports Earnings; Pushes Fuel Economy
Belgium's Euronav reported a net loss of US$ 31-million in its Q4 2012 financial report. The result of the fourth quarter is affected positively by the revaluation at marked-to-market levels of non cash items (unrealized) such as hedge instruments on interest rates for a total of US$ 600,000. After successfully implementing a strict slow and super slow steaming policy whenever possible, Euronav continues to apply measures to reduce fuel consumption across its spot fleet. The company has already retrofitted a VLCC, with a Mewis Duct, improving propeller efficiency, which demonstrated to be the most efficient energy saving device. The same retrofitting will be done on at least 4 Suezmax vessels this year.
Dolphin Marine's Latest Financial Results Better Than Expected
· Dolphin successfully enters into and completes the first 3D Multi-Client survey in Norway. Atle Jacobsen, Dolphin Group CEO, commented: "There is strong market demand for Dolphin's marine seismic services. "From day one, Dolphin has emphasised the importance of building a strong internal geophysical and Multi- Client business competence. This strategy works. Today our Multi-Client seismic model is being recognised by an increasing number new global clients and governmental authorities.