Shipping & Marine
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SHIPPING & MARINE |
16 May 13
398 reads
55 units are to be delivered.
According to Barclays, 2013 is on track to record the highest number of jack-up deliveries in the past 30 years. Read ››
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SHIPPING & MARINE |
15 May 13
110 reads
She will temporary fill in the post vacated by Edmund Lim until Shirley Tok will step in as financial controller on 1 July. Read ››
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SHIPPING & MARINE |
15 May 13
198 reads
Freight rates for 2Q13 have dipped.
Citing the Shanghai Containerised Freight Index, OCBC reported that freight rates for 2Q13 thus far have declined quite considerably across most routes – with the exception of the Intra-Asia route – and this could hurt the ongoing recovery process for NOL. Read ››
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SHIPPING & MARINE |
15 May 13
123 reads
Awarding of new contracts likely to be delayed.
According to OCBC Investment Research, Dyna-Mac Holdings' orderbook fell to S$113m (as at 14 May 2013) from S$134m (as at 27 Feb 2013), providing cover for only two quarters. Read ››
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SHIPPING & MARINE |
15 May 13
162 reads
How will margins benefit?
According to Barclays, Sembcorp Marine’s CEO, Mr Wong Weng Sun, presented at the annual Offshore Technology Conference on ‘The development of the next-generation yard’, in reference to the opening of the company’s new Tuas yard in Singapore. Read ››
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SHIPPING & MARINE |
15 May 13
258 reads
Are cost cutting moves taking effect?
According to OCBC, Neptune Orient Lines's (NOL) 1Q13 results disappointed with a larger-than-expected core operating loss. Read ››
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SHIPPING & MARINE |
14 May 13
145 reads
He was also executive director and member of the Nominating Committee. Read ››
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SHIPPING & MARINE |
14 May 13
89 reads
He is currently CEO of SIF Limited, an investment company which invests in global leased transportation and property assets. Read ››
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SHIPPING & MARINE |
14 May 13
117 reads
Whipped by higher transportation cost.
According to DBS, Bumitama’s 1Q13 core earnings came in at Rp151.5 bn (-24% y-o-y), representing only 15% of our initial FY estimates.
Read ››
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SHIPPING & MARINE |
14 May 13
157 reads
In the first 5 months of 2013.
According to DBS, the Group announced significant contract wins worth a total of US$110m – for 1 AHTS vessel sold to a new Indonesian customer + 4 PSVs sold to an existing customer. Read ››
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SHIPPING & MARINE |
14 May 13
103 reads
Revenue also climbed 14% to RM234.7m.
According to OCBC Investment Research, Nam Cheong Limited’s revenue and net profit increased by 14% and 8% YoY to RM234.7m and RM35.8m in 1Q13 respectively.
Here's more:
Read ››
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SHIPPING & MARINE |
10 May 13
521 reads
Singapore profits fell 19%.
According to CIMB, as expected, Singapore profits fell by about 19% yoy and qoq from 1) lower adhoc gas sales, 2) weaker power spread (blended spread dipped by 8-9% yoy), and 3) the lack of deferred billings that boosted 4Q12’s earnings by S$8m.
Here's more:
Read ››
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SHIPPING & MARINE |
10 May 13
244 reads
But revenue fell 31%.
According to OCBC Investment Research, Marco Polo Marine reported a 31%YoY fall in revenue to S$21.3m but a 121% rise in net profit to S$9.3m in 2QFY13, such that 1HFY13 net profit accounted for 58% of our full year estimate. Read ››
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SHIPPING & MARINE, TRANSPORT & LOGISTICS |
09 May 13
169 reads
Cost competitiveness just one of many strengths.
In a release, Maritime and Port Authority of Singapore (MPA) announced that the Port of Singapore once again clinched the ‘Best Seaport in Asia’ award at the Asian Freight and Supply Chain Awards (AFSCA), retaining its crown as Asia’s port of choice. Read ››
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SHIPPING & MARINE |
09 May 13
172 reads
Stronger quarters ahead, says analyst.
According to OCBC Investment Research, Ezion Holdings reported a 79.3% YoY rise in revenue to US$54.8m and a 227.8% increase in net profit to US$46.2m in 1Q13. Read ››
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SHIPPING & MARINE |
07 May 13
154 reads
He is responsible for the offshore vessels chartering operation.
The Board of Marco Polo Marine announced the appointment of Loo Hin Loy as senior general manager. Read ››
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SHIPPING & MARINE |
07 May 13
259 reads
Even if shiprepair sales surge 14%.
According to DBS, order book stands at S$13.6b, with work stretching up to 2019 due to the Petrobras projects’ (S$7.9bn) long duration of 8 years.
Although book to bill ratio is high at 3.2x, revenue visibility for 2014 will drop to 63% backed by existing orders. Read ››
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SHIPPING & MARINE |
06 May 13
219 reads
What could be blamed?
According to DBS, Cosco reported a disappointing set of 1Q13 results with net profit coming in at S$9.7m (-65% y-o-y), way below expectation of S$20-25m.
Key variances were the lower than expected non-offshore revenue and sale of scrap materials, as well as forex loss. Read ››
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SHIPPING & MARINE |
06 May 13
295 reads
Deliveries are extending up to 2019.
According to Nomura, Sembcorp Marine reported 1Q13 PATMI of SGD119mn, up 5% on y-y basis though significantly lower than consensus of SGD158mn on sales of SGD1.05bn (up 11.4% y-y).
Higher profitability vs. Read ››
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SHIPPING & MARINE |
06 May 13
243 reads
Turnover form shipyard operations dropped 26%.
According to OCBC, COSCO Corp’s 1Q13 revenue and net profit attributable to shareholders came in at S$733m (-25% YoY) and S$9.7m (-65% YoY) respectively. Read ››
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SHIPPING & MARINE |
06 May 13
167 reads
Delivery is set in 3Q14.
According to OCBC Investment Research, Vard Holdings, previously known as STX OSV, secured a contract with Island Offshore for the construction of one advanced offshore support vessel worth approximately NOK400m (US$70m).
Here's more:
Read ››
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BUILDING & ENGINEERING, SHIPPING & MARINE |
06 May 13
177 reads
Upcoming projects key to maintaining margins.
According to Barclays Research, Sembcorp Marine has been beating expectations in operating margins for the past two quarters, suggesting strong operational peformance. Read ››
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SHIPPING & MARINE |
03 May 13
153 reads
Project to last through 2015.
Ezra Holdings Limited announced that its subsea division, EMAS AMC, has been awarded a subsea engineering, procurement and offshore construction contract from Statoil for the Smørbukk South Extension’s project. Read ››
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SHIPPING & MARINE |
02 May 13
238 reads
It amounted to $65m.
According to Barclays, strong performance from rig-building business continues. Read ››
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SHIPPING & MARINE |
01 May 13
129 reads
Eddie Teh Ewe Guan and Eric Ang Teik Lim were both named as non-executive director. Read ››
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SHIPPING & MARINE |
01 May 13
207 reads
It's set to deliver vessel in 2015.
Vard Holdings Limited announced that it has entered into a contract with Buksér og Berging for the construction of one Azimuth Stern Drive (ASD) offshore tug vessel. Read ››
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SHIPPING & MARINE |
01 May 13
338 reads
SMM's CJ-70 track record is impressive.
Accordng to CIMB, Upstream has reported that Noble Drilling is in pole position to secure a CJ-70 jack-up rig drilling chartering contract from Statoil, which could be announced soon.
This could be followed by the award of rig construction to the Statoil-nominated yards of SMM and Daewoo Shipbuilding. Read ››
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SHIPPING & MARINE |
30 Apr 13
297 reads
Orderbooks likely to be $1-2b fatter.
According to Barclays, the Singapore rig-builders, Keppel Corp (OW) and Sembcorp Marine (EW) could be on the verge of being awarded some large-scale jackup orders, according to Upstreamonline. Read ››
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SHIPPING & MARINE |
30 Apr 13
268 reads
19 contracts up for grabs.
According to OSK DMG, following the first wave of 24 vessels chartered in 1H13, awarded by Petronas Carigali’s drilling division, it is expecting two more waves. Read ››
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SHIPPING & MARINE |
29 Apr 13
401 reads
But analysts prefer Keppel.
Maybank Kim Eng notes that the Singapore rig-builders, Keppel Corp and Sembcorp Marine could be on the verge of being awarded some large-scale jackup orders, according to Upstreamonline. Read ››
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SHIPPING & MARINE |
26 Apr 13
345 reads
It only delivered 9 vessels in 1Q.
According to OCBC Investment Research, Yangzijiang Shipbuilding reported a 22% YoY fall in revenue to RMB2.9b and a 30% drop in net profit to RMB717.2m in 1Q13, accounting for 24% and 26% of our full year estimates, respectively.
Here's more:
Read ››
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BUILDING & ENGINEERING, SHIPPING & MARINE |
25 Apr 13
280 reads
For bridge and flare structure works.
Sembmarine SLP Limited (SLP), a subsidiary of Sembcorp Marine, announced that it has secured a contract worth approximately £7 million to fabricate the Bridge and Flare Structures for Nexen Petroleum UK Ltd’s Golden Eagle Project. Read ››
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SHIPPING & MARINE |
25 Apr 13
375 reads
Revenue will also surge 41%.
According to Maybank Kim Eng, Sembcorp Marine (SMM) will report 1Q13 results on 3 May 2013 after trading hours. Read ››
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SHIPPING & MARINE |
24 Apr 13
373 reads
The company also announced the retirement by rotation of Dr Philip Tan Meng Ngee. Read ››
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SHIPPING & MARINE |
24 Apr 13
229 reads
Even if drawdown was sluggish.
According to DBS, stripping out impairment charges, fair value and divestment gains, core net profit was S$331m (-56% y-o-y), making up 21% of our and consensus’ full year estimates. Read ››
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SHIPPING & MARINE |
22 Apr 13
171 reads
Its subsea assets are almost booked for 2013.
According to CIMB, with its major subsea assets kept busy this year, it estimates that subsea gross profits will jump by 43% yoy for FY13. Read ››
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SHIPPING & MARINE |
22 Apr 13
286 reads
Does it stand a chance amidst global competitors?
According to DBS, Keppel announced the formation of Ocean Mineral Singapore Pte. Read ››
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SHIPPING & MARINE |
22 Apr 13
337 reads
They have a ''prudent strategy".
According to OCBC, for contracts secured this year, most of the customers of Chinese yards are not leading players in the industry, with the exception of Seadrill.
In comparison, Keppel's and Sembmarine's customers are generally more established players. Read ››
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SHIPPING & MARINE |
22 Apr 13
159 reads
Results will be out in July.
Keppel Corporation Limited has today announced the formation of Ocean Mineral Singapore Pte. Read ››
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SHIPPING & MARINE |
21 Apr 13
291 reads
It will be operational in 2016.
Sembcorp Industries announced that it will be developing a new energy-from-waste facility in Teesside, the UK, which will be the Group’s first energy-from-waste facility outside Singapore.
The new energy-from-waste facility will be capable of producing up to 49 megawatts of gross power or 190 tonnes per hour of steam, using municipal and commercial waste. Read ››
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