Ihc Caland Nv News

IHC Caland NV won orders worth about $141.9 million. The orders include building a RoRo ferry for a French client, an offshore support vessel for a British firm, a tug for a Dutch customer and two river cruise ships for Viking River Cruises. "These new orders will take up a substantial part of the capacity at the group's shipyards well into 2002," IHC Caland said. It added that its offshore division had been ordered by a large international oil company to design a floating production and storage unit that can be used off West Africa and Brazil. It did not identify the client. IHC's offshore division also expects to win another major order from an international oil group. The company said it would give further information on this at a later date.

Dutch IHC Caland NV said on Monday preliminary net profit rose eight percent in 2000, and reflected on a "difficult and often frustrating year." Net profits are expected to be 75 million euros ($69.4 million), compared with 69.5 million in 1999. The figure came in at the low end of analysts expectations, but at exactly the level the company predicted in September. Company watchers had forecast the company's net profits would be 75.3-77.2 million euros, with a consensus at 76.3 million euros. IHC Caland, whose products range from oil platforms to dredgers to luxury passenger liners, also said it expected full-year 2001 net profits to at least match the 2000 level, with volatile oil markets delaying new orders.

Dutch shipbuilding and engineering group IHC Caland NV said on Wednesday it received two new contracts worth a total of $250-300 million. IHC said it had received a letter of intent from the U.S. exploration and production arm of TotalFinaElf to build a deepwater platform in the Gulf of Mexico. The project, worth $150-$200 million, is expected to be completed near mid-2003, the company said. IHC's unit Giessen-de Noord received a memorandum of understanding to build a maintenance ship for offshore oil fields from Scotland's Wellships Group. That contract was worth about $100 million, IHC said.

Shipbuilding and engineering group IHC Caland NV might stop building ships if the Dutch state goes ahead with plans to abolish subsidies for shipyards after 2000. If the Dutch shipbuilding subsidies were scrapped, cutthroat competition from South Korean companies in particular would cause the Dutch sector to vanish. Currently, IHC Caland generates about 30 percent of annual turnover by shipbuilding. The bulk of the firm's sales are generated in the offshore energy markets, notably by building and operating floating production and storage systems. In a separate press release, IHC Caland stressed this did not imply a change in previously given forecasts.

Dutch shipbuilding and engineering group IHC Caland Nv reported that 1999 preliminary net profit rose 4.7 percent from the previous year, and officials said they expect 2000 net profit to rise by about eight percent. Preliminary net profit for 1999 came in at $68.1 million, up from $64.8 million in 1998. Final 1999 figures are due on April 3. Consensus estimates from analysts had forecast $68.7 million, which compares with the company's own prediction in August of $66.5 million. Despite no real surprises in the figures, company watchers said IHC Caland remained on the right track.

IHC Caland NV reportedly received $94.3 million in new orders, bringing its current order portfolio to $471.5 million.

IHC Caland NV reportedly received $94.3 million in new orders, bringing its current order portfolio to $471.5 million.