• 2015 February 12 16:04

    TTS Group posts 2014 results

    The TTS Group’s Q4 EBITDA adjusted for one-time items was MNOK 36.1, an improvement of MNOK 146.1 compared to Q4 2013 and contributing to a full year operating profit of MNOK 4.2. “We are heading to ensure acceptable long-term profitability, and these figures reaffirm our faith in the ongoing restructuring and in our recent market initiatives,” says Björn Andersson, CEO of TTS Group ASA, the company said in its press release.

    The Q4 operating result before depreciation (EBITDA) was MNOK 141.8. Adjusted for the one-time effect of pension plan changes in the Norwegian entities, the operating profit still improves strongly, leaping from a loss of MNOK 110 in Q4 2013 to a profit of MNOK 36.1. Preliminary full year EBITDA excl. pension adjustments increased from a loss of MNOK 130.3 in 2013 to a profit of MNOK 4.2.

    “The positive development is mainly attributable to our continuous work on improving internal processes, cutting cost and adjusting activities to current market conditions within segments experiencing low tides,” says Andersson, and points to a decrease of about MNOK 70 each for both indirect overhead cost and material cost.

    “2014 saw an all-time high for our service operations and a continued strong performance in the market for RoRo and Cruise. These achievements were regrettably offset by restructuring costs and by a poor performance within Offshore. In addition we now also see that several loss-generating projects that have weighed down the accounts for quarters, are close to reaching their end,” says Andersson.

    Q4 revenues increased from MNOK 638 in 2013 to MNOK 734 in 2014. Full year turnover decreased from MNOK 2,693 in 2013 to MNOK 2,435 in 2014. The reduction was expected and primarily attributable to lower activity in the Container / Bulk / Tank and Multipurpose / General Cargo units. However, the Q4 order intake of MNOK 498 relates mainly to large orders in these two units, so there are signs that these segments are picking up. The Group order backlog per year-end 2014 amounts to MNOK 3,627 compared to MNOK 2,971 at the end of 2013. An impressive new order intake in TTS’s joint ventures in China, where market growth is considerable, is the main explanation for the increased order backlog. The figures includes 50% of the order backlog related to Chinese joint-ventures.




2018 January 20

10:28 Sanmar's tug arrives in Naples to enter service with Rimochitori Napolitani
09:55 World’s second largest ship registry prepares for continued success in 2018
07:43 Golden Ocean announces issuance of new shares in connection with delivery of vessel
06:41 Cheniere and Trafigura sign 15-year LNG sale and purchase agreement

2018 January 19

18:20 Name giving ceremony held in Novorossiysk for three Damen tugboats of Delo Service Company (photo)
18:06 British Ports Association responds to UK Government announcement on extra funding for border security in the Channel
17:56 ABP South Wales Ports see strong growth in 2017
17:33 Taganrog Commercial Seaport plans allocation of $4.2 mln for implementation of its 2018 development programme
17:06 BPO lunch debate in European Parliament
16:50 Nevsky Shipyard congratulates North-Western Shipping Company on its 95th anniversary!
16:32 LSC Shipmanagement increases its fleet with bitumen tanker
16:27 Azerbaijan Caspian Shipping Company undertakes measures to prevent environmental pollution
16:04 Rolls-Royce supplies MTU engines to equipment manufacturer Terex Cranes for two new Demag models
15:34 Northwest Seaport Alliance international container volumes up 4 percent in 2017
15:03 MSC adds new RO-RO service from NWC to West Africa
14:55 Russian Maritime Register of Shipping reviewes the Rules and Guidelines
14:33 “K” Line announces delivery of ‘Corona’ series coal carrier “CORONA WISDOM”
14:17 Jan De Nul supports V Forum of Dredging Companies as its Sponsor
14:03 Maersk Line announces FAK rates from Asia to West Coast of Central and South America, Mexico, Panama and Caribbean
13:32 Gulf Navigation adds “Gulf Mishref” and “Gulf Mirdif” to its fleet
13:16 CMA CGM announces THC in Kaliningrad, Russia
12:51 Second Vroon W2W vessel completes modifications and outfitting at Damen Shiprepair Oranjewerf
12:45 Port of Antwerp scores 5th record year in a row
12:14 NIBULON starts the second stage of the Southern Buh river dredging
11:51 Bunker prices show no significant changes at the port of Novorossiysk, Russia (graph)
11:28 Nine vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on Jan 18-19
11:03 Freeport of Riga Authority set to enter new markets in 2018
10:40 Russian seaports of the Azov Sea handled 87.8 mln t of cargo in 2017, up 24.7% Y-o-Y
10:17 Brent Crude futures price down 1.01% to $68.61, Light Sweet Crude – down 1.22% to $63.17
09:56 Bunker prices are flat at the Port of Saint-Petersburg, Russia (graph)
09:32 Royal IHC supports Hydraulic Engineering Structures and Dredging Congress as its Sponsor
09:15 Baltic Dry Index down to 1,139 points

2018 January 18

18:01 ABP South Wales ports see strong growth in 2017
17:39 Russian Union of Water Transport Workers congratulates North-Western Shipping Company on its 95th anniversary!
16:24 Fincantieri signs cooperation protocol with the autonomous Region of Friuli Venezia Giulia and the trade unions
16:02 MABUX: Bunker prices wait for the new market catalysts
15:33 Port of Marseille Fos and HAROPA launch new rail shuttle
15:02 CMA CGM announces FAK rates from Asia to North Africa and from Asia to the Mediterranean
14:32 Unifeeder adds Vlissingen to its service
14:19 Three vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on Jan 17-18
14:02 Ocean Network Express receives all necessary merger approvals
13:50 RPK-Vysotsk-LUKOIL-II terminal received 10.06 mln t of export oil products in 2017
13:32 Part-load optimisation delivers significant fuel savings for MAN auxiliary engines
13:28 Van Oord supports V Forum of Dredging Companies as its Sponsor
13:12 Rolls-Royce announces strategic review of Commercial Marine operation
12:50 Kerch ferry line carried 5.71 mln passengers in 2017, down 4% Y-o-Y
12:31 Wan Hai Lines to launch Japan Express Service to Singapore Malaysia
12:08 Port of Amsterdam receives LME certification
11:59 Vroon awarded multi-year charter for two PX-121 platform-supply vessels
11:36 Chevron Shipping awards global oil and LNG contract to GAC
11:05 German LNG Terminal launches Open Season
10:27 Brent Crude futures price up 0.14% to $69.48, Light Sweet Crude – up 0.34% to $64.19
10:04 FSUE Morsviazsputnik congratulates North-Western Shipping Company on its 95th anniversary!
09:42 Port of Klaipeda (Lithuania) handled 43.17 mln t of cargo in 2017, up 7.5% Y-o-Y
09:19 Baltic Dry Index down to 1,164 points

2018 January 17

18:00 Federal Agency for Water Resources supports Hydraulic Engineering Structures and Dredging Congress
17:03 Diana Shipping announces time charter contract for m/v Phaidra with Uniper
16:48 Sweden's Minister of Infrastructure visited World Maritime University
16:34 DNV GL launches certification framework and recommended practice for Carbon Capture and Storage
16:03 JAXPORT hires new Container Accounts Director