Latest news from Heavy Lift & Project Forwarding International Magazine

Wilh. Wilhelmsen results up on previous quarter

August 9 - Wilh. Wilhelmsen Holding ASA (WWH) has issued its results for the second quarter of 2013.

Operating profit for the second quarter totalled USD 106 million based on a total income of USD 903 million.

Compared with the previous quarter, the operating profit was up 37 percent while the revenue increased 4 percent.

The figures were down 23 percent and 7 percent 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 percent increase in volumes transported deep sea," said Thomas Wilhelmsen, group ceo, WWH. "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 percent and 22 percent respectively quarter on quarter."

Commenting on an increase in operating profit for the group's maritime services segment: "The income from our maritime services activities was stable quarter on quarter and up 37 percent 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."

The group's holding and investment portfolio developed positively, the main driver being an increased contribution from its investment in NorSea Group.

"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" said Wilhelmsen.

"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," he added.

Heavy Lift | News

Marine insurance: Reducing costs and capacity thumbnail image

Marine insurance: Reducing costs and capacity

September 19 - Marine insurance providers are commoditising their products in order to reduce costs. The result, according to the International Union of Marine Insurance (IUMI), is a loss of expertise.
Views: 334
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 722
DHL strengthens network in Middle East and Africa thumbnail image

DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 835
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 580

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.