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Good Results

Ulstein Posts Profit Results

2007 was a hectic year for the Ulstein Group, with all of its companies running at full capacity. The Group had NOK 1.97 billion in turnover and an operating profit of NOK 194 million, the best cumulative profit result since 1999. In recent years the Ulstein Group has spent a great deal of time developing new products and work processes. In 2007 the Group delivered comprehensive design and equipment packages to shipowners in , and . It also built three ships, one of which, the Normand Seven, was named Ship of the Year for 2007. The Electro department has used great resources in the development of new products, but achieving revenue growth here has not been easy. Even satisfactory capacity utilisation within systems and service, electronics, automation and installation wasn’t enough to produce positive results totally. 2007 profits are due in large part to good results from the shipping segment. Solid and systematic innovation work will almost always bear fruit, directly or indirectly, in the long term, Ulstein says.


A.P. Moeller Expects Good Results

Danish shipping and oil group A.P. Moeller, Denmark's biggest private enterprise, said that it expects full-year 2000 earnings of its two main business areas to exceed 1999 levels. "For the year 2000 the combined shipping activities are expected to generate a result before special items that is somewhat above the result for 1999." "After special items and after tax a result significantly above that of 1999 is expected," the group said.


Smit Intl. Earnings Up 40%

Smit International NV announced that net earnings for 2005 have risen by nearly 40% to EUR 38.3 million. Despite facing a heavier tax burden of 30% (up from 24% in 2004), the divisions Harbor Towage, Terminals and Transport & Heavy Lift achieved better results in comparison to 2004. The Salvage division performed well above the so called historical average. SMIT has served the maritime sector for more than 160 years. SMIT’s services are organised into four Divisions:


Smit Profit Soars 60%

Smit International announced that its mid-year results saw profits soar 60% from EUR 29.7 million to EUR 47.5 million, driven by an extremely busy six months and good results in its salvage division, and strong pricing and utilization in its Transport & Heavy Lift Division. "The exceptionally high results in the second half of 2006 were continued in the first half of 2007, with our net profit rising 60% relative to the first half of 2006,” said CEO Ben Vree


STX in Deal for Naval Test Ship

STX Offshore & Shipbuilding received an order for a next generation naval test ship from Agency for Defense Development (ADD). The ship will support marine weapon system tests and conducts environmental surveys on the test sea area. The vessel, worth around $359m, weighs 1,200 tons and is able to accommodate about 30 people. The ship, with 4,000 nautical miles, is scheduled to be delivered to ADD in May 2012.


Ulstein Reports Improved 2013 Results

Gunvor Ulstein (photo courtesy the Ulstein Group)

Ulstein Group reported it delivered a good result for 2013 with an operating income of NOK 2.3 billion compared to 2012’s result of NOK 2.27 billion. Similarly, Ulstein’s operating profits improved in 2013 to NOK 317.8 million from NOK 228 million in 2012. The group’s operating result before tax was NOK 360.8 million, compared to NOK 211.4 million in 2012. Ulstein said it currently has more than 40 vessels in order, of which six to be built at its own yard


Howard Smith Posts Flat Results

Hardware and towage group Howard Smith Ltd. pointed to a difficult market for its main hardware and industrial supplies businesses on Tuesday, after posting a flat half year result. Although recent data pointed to a housing recovery, actual spending on hardware was expected to lag housing approvals and a break in economic conditions was not expected until at least mid-year. "The outlook for the next four months is tough


Good Results for P&I Club

The North of England P&I club's overall free reserves at 20 February 2004 increased by 34 % to reach US$ 133.5 million despite a difficult year for claims. The 50 million GT club's accounts for the 2003/04 year, which have just been approved by the directors, show a substantial improvement in investment return and further consolidation of the A- rated club's financial position. The P&I class investment portfolio, which remains conservatively structured with 72.5 % in bonds and cash and 27


Håøy Appointed President Kongsberg Maritime

Photo courtesy Kongsberg Maritime

Geir Håøy has been appointed President of Kongsberg Maritime and will join the Group Corporate Management Team in KONGSBERG. Håøy has worked for Kongsberg since June 1993, holding various management positions since 1996. Håøy succeeds Torfinn Kildal, President of Kongsberg Maritime since 1999. Håøy has broad international experience from different positions in Kongsberg Maritime


Matson Ratchets Up Q2 2013 Profit

Matson logo

Matson, Inc. a leading U.S. carrier in the Pacific, report net income of $20.1 million, or $0.47 per diluted share for the quarter ended June 30, 2013. Net income for the quarter ended June 30, 2012 was $7.8 million, or $0.18 per diluted share. Consolidated revenue for the second quarter 2013 was $416.6 million compared with $394.2 million reported for the second quarter 2012. Matt Cox, Matson's President and Chief Executive Officer commented, "We had another solid quarter


NAT in Q1 2014 Black: First Time in Four Years

NAT Tankship: Image courtesy of NAT

Nordic American Tankers (NAT) report a cash dividend, strongly improved operating cash-flow and a positive net income in the first quarter of 2014. The Company informs that thanks to a strong winter market, Q1 2014 has produced the best results it has seen in several years


Topaz Reports Revenue up 7%

Photo courtesy of Topaz

Q1 2014 revenue up 7% over Q1 2013 to US$ 89.4 million as a result of the expansion of the core vessel fleet and high vessel utilization. Topaz Energy and Marine has announced the results of its subsidiary Nico Middle East Ltd. (“NMEL”) for the three months ended 31 March 2014


Maersk Taking $1.7b Charge on Brazil Assets

Full-year underlying profit guidance unchanged; writedown raises questions over company's oil strategy. Danish oil and shipping group A.P. Moller-Maersk moved to shrink its Brazilian petroleum operations on Tuesday, selling its stake in its only producing Brazilian oilfield and saying it will


Island Performer Equipped for Deep-Sea Subsea Work

Island Performer at the naming ceremony in the Geiranger fjord, Norway (Photo: Ulstein Group/Tonje Alvestad)

The Ulstein Verft subsea newbuild, Island Performer, was delivered today to shipowner Island Offshore. The flexible, state-of-the-art RLWI/IMR vessel will serve her first five years for FTO in the Gulf of Mexico. “The vessel is customized to suit the scope of work in the FTO contract


Concordia Maritime Release Interim Report

Stena Supreme

In accordance with the Swedish Securities Market Act and the Swedish Financial Instruments Trading Act, Concordia Maritime published its interim report for 2013. Highlights are as follows: Interim Report 1 January – 30 June 2013 •Positive view of the product tanker market


Moody's Upgrades CMA CGM's Financial Outlook

Photo: CMA CGM

Moody's Investors Service has upgraded CMA CGM S.A.'s corporate family rating (CFR) to B2 from B3 and the company's probability of default rating to B2-PD from B3-PD. Concurrently, the rating agency has upgraded to Caa1 (LGD5/84) from Caa2 (LGD5/80) CMA CGM's EUR325 million and $475 million worth


Eni Launches Green Data Center

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A little more than two years after laying the foundation stone, Eni has opened its new Green Data Center in Ferrera Erbognone (Pavia). The building will host Eni’s central computer processing systems, both for information management and seismic simulation processing (High Performance


In-Tank BWTS Under Development by Bawat

Detail of In-tank BWTS equipment: Image courtesy of Bawat

The Danish company Bawat A / S has developed an in- tank system to treat ballast water on ships where the treatment is conducted while the ship is under way, unlike the existing in-line systems where processing is carried out when the ship is in port.


1,000 Member-State Delegates Gather at IMO Assembly

IMO 28th Assembly: Photo credit IMO

Stephen Hammond, Parliamentary Under-Secretary of State for Transport, United Kingdom, welcomed delegates to the 28th IMO Assembly, the Organization's highest governing body, on behalf of the host Government.   In his opening address


CMA CGM Recognized for its Carbon Strategy

Photo: CMA CGM

For the second consecutive year, CMA CGM Group scored one of the best results in the CDP (Carbon Disclosure Project) Transport and Logistics category for its policies, performance and transparency in areas related to climate change. Created in 2000


New KNRM Vessel Performs Well at Sea Trials

Photo: Damen

Damen said a number of trials were conducted last week for the new search and rescue vessel for the KNRM (Royal Netherlands Sea Rescue Institution). Leading up to the official delivery ceremony scheduled for April 2014, the builder reported good results for both the capsizing test as the


Port of Hamburg on Growth Course

Photo courtesy of Port of Hamburg

In 2013 the Port of Hamburg achieved total throughput of 139 million tons. That represents growth of 6.2 percent. Both general cargo handling totalling 96.8 million tons (+ 5.7 percent) and bulk cargo handling at 42.3 million tons (+ 7.2 percent)


Statoil Reports Robust Q1

Oseberg field centre - Photo Harald Pettersen - Statoil.

Norway's Statoil defied gloom in the oil sector by reporting first-quarter earnings above expectations on Tuesday due to higher prices and good results from shale gas activities in the United States, lifting its shares.   Regarding new sanctions on Russia


Statoil's Q1 net operating income up by 35%

Courtesy STATOIL

  Statoil's (OSE:STL, NYSE:STO) first quarter 2014 net operating income was NOK 51.4 billion, a 35% increase compared to the first quarter of 2013. Adjusted earnings were up 9% to NOK 46.0 billion. “We are pleased to present strong financial results for the quarter


Dutch Shipbuilders Report Positive Outlook

photo courtesy  Netherlands Maritime Technology

The Netherlands shipbuilding cluster reports successful 2013, positive outlook for 2014 The Dutch shipbuilding cluster and maritime suppliers achieved good results in 2013, Netherlands Maritime Technology said. The total annual turnover increased from € 6.1 billion in 2012 to € 6






 
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