• 2015 August 19 18:04

    TTS Group announces results for Q2 2015

    TTS Group achieved an operating profit (EBITDA) of MNOK 137.8 in Q2 2015, consisting of an operational profit of MNOK 34.2, and a one-off effect of MNOK 103.7 that relates to the acquisition of control of the jointly owned Chinese company TTS Hua Hai. – The stable good results within the services and car carrier segments, together with the reduced losses in offshore and heavy lift segments, are contributing to the positive result, says Björn Andersson, CEO of TTS Group ASA.

    In accordance with applicable accounting regulations, as of Q2 2015 TTS runs from joint control to full control of the jointly owned Chinese company TTS Hua Hai. This follows amendments to the agreements that governing the control of the company. A technical valuation in relation to the control transition provides a positive one-off effect of MNOK 103.7 for TTS Group EBITDA in Q2. TTS Hua Hai is consolidated 100% in TTS Groups accounting from Q2 2015 and thereby also contributes with a positive EBITDA effect of MNOK 19.6 for the same quarter.
    - If we look solely at TTS Groups 100% owned companies, we also record a significant profitability improvement in Q2, with an EBITDA of MNOK 14.6; up MNOK 24.9 from the same period in 2014. This confirms that the restructuring measures in 2014 and the ongoing cost reduction program have had effect. At the same time we certainly could have wished for better benefit from the market in certain segments, says Andersson.

    Besides TTS Hua Hai, the two business units RoRo / Cruise / Navy and Services are the most important contributors to a positive operating result, with EBITDA respectively MNOK 16.2 and MNOK 19.7 million. The reduced losses in the business unit Offshore, together with a break even result from business unit Multipurpose / General Cargo which had a loss at the same period in Q2 2014, have also contributed to the profit growth.

    TTS Groups total revenues in Q2 were MNOK 816, including a turnover of MNOK 261 in TTS Hua Hai. For TTS Group 100% -owned companies, revenue went down slightly compared to Q2 2014.

    This only emphasizes the importance of the accumulation and development of business that we are now conducting with full force in China, the world's largest shipbuilding nation, says Andersson.

    The total order backlog at the end of Q2 2015, including TTS Hua Hai and 100% of the joint ventures in China, was NOK 4 477, compared to MNOK 4 215 at the same time in 2014.




2018 July 18

17:36 DP World announces closing of Continental Warehousing Corporation (India) transaction
17:12 Marine Technics to participate in International Far East Maritime Show-2018
16:44 Oleg Bukin elected as Chairman of Tuapse Commercial Seaport BoD
16:23 Transocean and Chevron Australia ink 11-well contract
15:45 Stena Bulk positions itself in crude oil
15:19 Transocean announces 13-well contract for Transocean 712
14:57 AGCS issued Safety & Shipping Review 2018
14:43 Scandlines Helsingborg-Helsingör kicks off the holiday traffic season without delay
14:18 Intermarine UK promotes Portland Port to Government minister
14:00 Szczecin to become the capital of Baltic seaports in September
13:31 OHT to order ULSTEIN-designed heavy lift transport and installation vessel
12:59 Ports of Szczecin and Świnoujście announce 12-pct increase of cargo handling in HI’18
12:22 Dorian LPG confirms receipt of director nominations from BW LPG
11:50 Throughput of Ukraine’s seaports in HI’18 fell by 3.1% Y-o-Y to 53.8 million tonnes
11:25 TTS Colibri 3D compensated crane passes FAT
11:03 Overseas Shipholding Group places order for cemical tanker duo with Hyundai Mipo Dockyard
10:41 Yaroslavsky Shipbuilding Plant launches Svetlyak-class patrol boat Balaklava
10:32 Brent Crude futures price down 0.35% to $71.91, Light Sweet Crude – down 0.36% to $66.92
10:16 ICS encouraged by IMO progress on 2020 global sulphur cap implementation issues
09:59 Bunker prices continue going down at the Port of Saint-Petersburg, Russia (graph)
09:40 Throughput of Russian seaports in 6M’18 grew by 2.8% Y-o-Y to 394.8 million tonnes (detalization)
09:16 Baltic Dry Index up to 1,721 points

2018 July 17

18:24 North P&I Club and 24Vision ink partnership agreement
18:07 Lockheed Martin awarded Navy's contract worth more than $450 million in FMS funding for MMSC project
17:55 TransContainer announced its operating results for the second quarter and the first half of 2018
17:27 Equinor buys shares for use in the group's Share saving plan
17:11 Vigor Marine LLC gets Navy's contract for USNS Mercy mid-term availability
16:56 Okskaya Sudoverf puts into operation Belmax 4, fourth non-self-propelled barge of Project ROB20
16:34 Prosafe awarded important contract in Brazil
15:47 Orsted opts for Tekmar's CPS for Borssele 1 and 2 offshore wind farm projects
15:28 Port of Rotterdam places a bee colony in the port area
14:44 Baltic Ports Conference 2018 will focus on financing, economy and energy supply
14:23 Jan De Nul launches ultra-low emission vessel Diogo Cão in China
13:41 Severnaya Verf will lay down a longline factory vessel Gandvik-1 on July 20
13:16 Tidewater and GulfMark to combine to create global offshore leader
12:48 Containership MOL Truth earned 'Ship of the Year 2017'
12:19 15,000 TEU container ship “Afif” named in London Gateway
11:27 Huntington Ingalls begins post-delivery work on USS Gerald R. Ford (CVN 78)
11:17 Boskalis secures contract of total value of $65 million
10:53 Fuel oil prices are flat at the Far East ports of Russia (graph)
10:29 ABS to class FSRU for Turkey’s oil and gas distributor
10:00 Brent Crude futures price up 0.28% to $72.04, Light Sweet Crude – down 0.01% to $67.06
09:14 Baltic Dry Index up to 1,695 points

2018 July 16

18:31 APL adds port calls to West Asia Express Service
18:16 Diana Shipping announces signing and drawdown of a US$75M Term Loan Facility with BNP Paribas
17:55 Director Kopczynska addresses WMU students and faculty on maritime Europe
17:40 Great Lakes announces receipt of $70 million San Jacinto award
17:33 Bollinger Shipyards commits USCG icebreaker program to Florida
17:31 New vehicle terminal announced at the Port of Southampton
17:18 Hapag-Lloyd hikes rates for East Asia-Arabian Gulf trade
17:08 ING Bank signed a USD 80 million syndicated loan agreement with NIBULON
16:43 Minimum training standards for fishers under review
16:25 USCG rescues 7 people from capsized boat near Horn Island
16:20 Port of Antwerp sets new records with best half year ever
15:56 Freeport of Riga showed good growth in the first half of 2018
15:32 Maersk Drilling secures two contract extensions in the North Sea
15:19 Container throughput of port Hong Kong (China) down 3.6% to 9.88 million TEUs in Jan-June’18
15:03 Van Oord will acquire MPI Offshore
14:44 Average wholesale prices for М-100 HFO down to RUB 17,589 in RF spot market
14:35 Wärtsilä to assist Transocean with thruster maintenance optimisation and dry-docking cost reductions