• 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 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