• 2017 May 22 13:11

    Vallianz records operating profit of US$ 20.3 mln for FY 2017

    Vallianz Holdings Limited,  an  established  provider of offshore support vessels and integrated marine  solutions  to the oil and gas industry, today reported  its financial results  for the 15 months ended 31  March 2017. 

    The Group’s financial year - end has been changed to 31 March from 31 December previously.  The Group recorded a n operating  profit  before  tax  of  US$ 20.3 million on revenue of US$247.8 million  in FY 2017.  Around  84 % of the Group’s  revenue was generated  by its vessel chartering and brokerage  business which is  buoyed primarily by long - term chart er contracts in the Middle East. This  contribution  was higher  compared to 64% for the 12 months ended 31 December 2015, which is in line  with the Group’s strategy to focus on its core vessel chartering and brokerage business.

    Correspondingly,  vessel management services accounted for a  lower  15 % of Group revenue in  FY 2017.  Gross profit margin in FY2017 was slightly softer at 25. 2 % compared to 27.9% in  FY 2015. This  was due mainly to  the  renewal of certain existing contracts at a lower average charter rate ( as announced on 20 July 2015), which was  partially cushioned by  the  Group ’s  proactive management of operating costs. 

    As a result of the business slowdown in the offshore oil and gas industry, the  Group had to record non - cash  net  impairment expenses totaling  US$ 214.6 million,  including impairment expenses of  US$ 22.3 million attributable  to non - controlling interests, for certain of its assets in  FY 2017.  These Exceptional Expenses caused the Group to slip into  the red  in FY2017 with  a net  loss  of  US$ 158.4 million.

    About Vallianz Holdings Limited

    Vallianz Holdings Limited is an established provider of offshore support vessels and integrated offshore marine  solutions to the oil and gas industry. Headquartered in Singapore, the Group provides offshore marine services to oil  majors and national oil co mpanies worldwide. Today, Vallianz owns and operates a young fleet of  52 offshore  support vessels and covers markets in the Middle East, Asia Pacific and Latin America. To strengthen its foundation for growth, the Group is currently executing initiatives to expand its geographical reach,  as well as broaden its range of marine assets and solutions. The Group also continues to seek opportunities and  strategic alliances to increase its penetration in the major and emerging offshore oil and gas markets. Listed on  SGX - Catalist, Vallianz is helmed by an experienced management team. 

2018 March 22

11:14 Bunker prices are flat at the Far East ports of Russia (graph)
10:53 The Maritime Standard announces a special discount for the 2018 Awards
10:27 Brent Crude futures price up 0.01% to $69.48, Light Sweet Crude – up 0.09% to $65.23
10:05 Ukraine’s water transport carried 1,000 passengers in 2M’18, down 64.7%, Y-o-Y
09:41 Cargo transportation by Ukraine’s water transport grew by 41.2% to 0.3 million tonnes in 2M’18
09:19 Baltic Dry Index down to 1,117 points

2018 March 21

18:29 Wight Shipyard wins second order for fast ferry duo from Mexican ferry operator
18:16 Dorian LPG announces third Japanese financing
18:14 GasLog Partners LP announces acquisition of GasLog Gibraltar for $207 million and repayment of intercompany loan
18:04 ABP South Wales achieves new ISO 9001:2016 standard for bulk handling operations
17:42 Port of Gdansk to breathe new life into Dworzec Drzewny Quay
17:20 ABB wins contract to equip two next-generation shuttle tankers with future-proof solutions
17:13 Finnlines decides to exercise the options to lengthen two more ro-ro vessels
17:03 Throughput of Chinese ports up 4.7% to 1.45 billion tonnes in 2M’18
16:39 Pavel Bezmaternykh elected as Director of Eastern-Siberian Inland Navigation Company
16:18 Port of Gdansk overhauls its quays
16:00 Novikombank provides a $100 million loan to STLC
15:47 Huntington Ingalls names two vice presidents
15:21 Gulf Island Fabrication secures contracts for two specialized vessels
15:04 Seatrade Maritime Middle East 2018 to be held in Dubai on 29-31 October as part of UAE Maritime Week
14:42 LUKOIL’s profit in 2017 more than doubled YoY to RUB 418.8 bln
14:23 Wärtsilä and Crowley extend maintenance agreement for 11 articulated tug barges
13:56 IMO launches a video outlining how GMN initiative is uniting MTCCs into a global network
13:29 Ulstein built SOV Acta Auriga completes sea trials
13:11 Dubai will host MARACAD Maritime Innovation Awards on 3 October 2018
13:02 MARACAD 2018 will be held in Dubai on 2-3 October
12:30 17 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on March 20-21
12:09 Port of Quebec to cooperate with Port of Zeebrugge
11:47 Port of Immingham and partners hosted Driving Safety Forward forum
11:39 Vostochny Port JSC exported 5 million tonnes of coal YTD (photo)
10:50 Claimants and defendants in the case on allision of Delta Pioneer tanker with a pier at Primorsk port come to amicable agreement
10:31 Finnlines plans to lengthen two more Ro-Ro ships
10:15 Brent Crude futures price up 0.24% to $67.58, Light Sweet Crude – up 0.25% to $63.7
09:51 ABP's Port of Ayr took delivery of Liebherr crane
09:44 Bunker prices are going up at the Port of Saint-Petersburg, Russia (graph)
09:17 Baltic Dry Index down to 1,122 points
08:08 Scottish ports secure AEO status for Leith, Rosyth and Grangemouth
00:32 Ontario Government accepts Damen proposal for full ferry electrification

2018 March 20

18:20 Sirius Petroleum announces delivery of compact well head systems for Ororo-4 and Ororo-5
18:02 Leningrad Region Governor visits Vyborg Shipyard
17:56 PSA’s Bharat Mumbai Container Terminals enhances Nhava Sheva connectivity with first barge and train volumes
17:40 Van Oord posts results for 2017
17:25 Nevsky Shipyard designed a unique test stand
16:58 Multi-Link Terminals Ltd Oy orders Konecranes ship-to-shore crane for its Helsinki terminal
16:40 SMM 2018: green shipping makes headway
16:01 Transit shipments of containers on Russian Railways' network increased by 40% in January-February 2018
15:36 Rotterdam, the Netherlands will host 21st Ballast Water Management Conference on 7-8 November, 2018
15:13 NWSA container volumes grow 6 percent in February 2018
14:50 IMO Secretary-General Kitack Lim spoke at International Shipping Summit in Istanbul
14:24 More than half of spaces at icebreaker Arktika being built by Baltiysky Zavod are ready for outfitting (photo)
14:12 Maersk Line increases FAK rates from Far East to North Europe
13:35 Dredging works to be performed at seaport of Vladivostok
13:13 BP charters Safe Caledonia for West of Shetland
12:47 Traffic of passenger cars and buses through Crimea Bridge to be launched in May 2018 – RF Transport Ministry (photo)
12:01 Wan Hai Lines to launch new China to Vietnam service
11:51 40 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on March 19-20
11:28 Bunker prices level up at the Far East ports of Russia following last week’s fall (graph)
11:19 Maersk Line stops Winter Fee from world to St Petersburg FCT, RU, St Petersburg, RU, St Petersburg FP, RU, Ust Luga, RU and Kronshtadt
11:03 Skangas celebrates milestone with 1,000 LNG bunkering operations in 2017
10:40 Experts say Wärtsilä – Transas transaction is a step towards Wartsila localization in Russia