• 2015 May 13 16:34

    TTS Group achieves an operating profit (EBITDA) of MNOK 0.6 in Q1 2015

    TTS Group achieved an operating profit (EBITDA) of MNOK 0.6 in Q1 2015 compared to a loss of MNOK 38.4 for the same period in 2014. Total revenues were MNOK 593, up MNOK 40 from Q1 2014.

    - The industry has had a tough Q1, however from our order intake, we can conclude that our market position is further strengthened, says Björn Andersson, CEO of TTS Group ASA.
    - The result is as expected for a quarter characterized by challenging conditions in the offshore market, in combination with lower activity in some marine segments as a result of normal seasonal fluctuations. We're still not where we should be with regard to profitability, but overall we came out stronger from a quarter proved very challenging for many players in the industry, says Andersson.
    - We see positive effects of the continuous work we do to cut costs, and we get a good response to our new market strategy. We note otherwise a very positive order intake in April, with contracts for offshore AHC cranes of MNOK 100 and a flying start for our new 50/50 company in China, which together with one of our existing joint venture has received contracts on equipment packages for a series of heavy lift vessels, consisting of heavy lift cranes, hatch covers and winches for a total value of 270 million.
    The result developed positively in all business units in Q1 compared to the same period in 2014. Revenues also increased in all units excluding Offshore, which is characterized by a declining market, and Container / Bulk / Tank, which is still affected by low freight rates in some segments and overcapacity after the 2014 bulk boom. The greatest increases were in the Multipurpose / General Cargo unit, where revenue increased from MNOK 28 in Q1 2014 to MNOK 94 in Q1 2015.
    Overall order intake for the Group excl. the Chinese joint venture companies, was MNOK 301 in Q1, a sharp decline from 645 million in 2014.
    - Weaker order intake in the offshore is as expected; otherwise we believe the decline in our other segments largely is due to random fluctuations when the big orders are coming in. We have no reason to believe that the low order intake in Q1 reflects certain trends in the market, which the large orders we received in April also underpins, says Andersson.
    Order intake in the Chinese joint venture companies remains strong, although there was a decrease from MNOK 460 in Q1 2014 to MNOK 268 this year. The Chinese companies provide a EBITDA contribution of MNOK 8.4 in Q1 2015.




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
15:50 Lotos shipyard lays down paddle cruiser of Golden Ring design (photo)
15:42 Norwegian Central Bank excludes Evergreen Marine, Precious Shipping, Korea Line and Thorensen Thai Agencies from the Government Pension Fund Global
15:21 Three vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on Jan 16-17
15:04 DNV GL launches new JDP to test biodegradable lubricants
14:49 Beginning of icebreaker assistance period announced at port Primorsk (Leningrad Region)
14:33 “K” Line Group announces name change of two ship management subsidiaries
14:11 Throughput of port Helsinki (Finland) up 14.2% to 14.27 mln t in 2017 (table)
14:03 SBM Offshore completes Turritella handover and transaction
13:25 Throughput of port Kavkaz up 40% to 44.293 mln t in 2017
13:08 OOCL christens the last in latest series of ‘G-Class’ containerships
12:54 Yevgeny Zagorodny steps down as Vice-President of United Shipbuilding Corporation
12:26 Coal exports via Rosterminalugol terminal hit 1 mln t milestone this year (photo)
12:01 The Port of Helsinki takes the top spot among European passenger ports
11:22 De Boer/Dutch Dredging and Iskes Towage take delivery of ASD 2310 SD at Damen Shipyards Hardinxveld
10:43 Port of Gdansk throughput up 9% to 40.6 mln t in 2017
10:19 Brent Crude futures price down 0.1% to $69.08, Light Sweet Crude – down 0.11% to $63.66
10:00 NOVATEK’s hydrocarbons production in 2017 totaled 513.3 mln boe, down 6.2% Y-o-Y
09:37 Bunker prices are flat at the Port of Saint-Petersburg, Russia (graph)
09:15 Baltic Dry Index down to 1,221 points
09:08 Hamburg Süd honored twice for sustainability
08:14 COSCO's container ship to receive cyber enabled ship descriptive note ‘Cyber AL3 SECURE PERFORM (Energy Management System)’

2018 January 16

18:21 Kommer Damen opens Damen Area Support China
18:08 DNV GL approves latest Kongsberg Digital Engine Room Simulators
17:49 Russian Railways: Loading of Russia’s export cargo bound for domestic ports up 6.4% Y-o-Y to 293.4 mln t in 2017
17:26 State stevedores of Ukraine handled 34.73 mln t of cargo in 2017, down 9.6% Y-o-Y
17:00 Andrey Lavrishchev’s report at Hydraulic Engineering Structures and Dredging Congress will focus on promising port projects
16:35 Installation of Belgian topside for offshore substation marks milestone in further construction of Merkur Offshore Wind Farm
16:04 Maersk Line announces increase in FAK rates from Northern Europe to Middle East and ISC and from Mediterranean to Far East
15:52 Jotun Paints congratulates North-Western Shipping Company on its 95th anniversary!
15:34 DNV GL launches new JDP to test biodegradable lubricants
15:04 TTS Group ASA secures contract with Cosco (Dalian) Shipyard for TTS cranes
14:45 New Delhi will host 5th edition of Oil Spill India Conference on 5-6 July 2018