• 2017 October 22 15:42

    Aker Solutions ASA posts results for Q3 2017

    Aker Solutions delivered strong execution on major projects globally in the third quarter of 2017 and made good progress on improvement efforts that supported margins, the company said in its press release.

    The company has completed 90 percent of a program aimed at increasing cost-efficiency across the business by at least 30 percent by the end of this year. It is now also targeting an additional improvement of minimum 20 percent by the end of 2021. This compares with the company's 2015 costs and work volumes.

    The company in the quarter won 13 study awards for front-end engineering, giving a record of 84 studies in the first nine months of the year. That compares with a previous high of 81 studies in 2016.

    Orders totaled NOK 2.6 billion in the quarter and included a framework agreement from Shell for brownfield modifications services and maintenance support at the Nyhamna and Draugen facilities in the Norwegian Sea as well as a contract from Statoil for front end engineering and design of a module to increase gas output at the North Sea Troll field. This includes an option for engineering, procurement, construction and installation of the module. The backlog was NOK 27.2 billion at the end of the quarter, about half of which was for projects outside Norway.

    Revenue fell to NOK 5.4 billion in the quarter from NOK 6 billion a year earlier amid the global market slowdown and as some projects neared completion. Earnings before interest, taxes, depreciation and amortization (EBITDA) were NOK 401 million in the quarter, compared with NOK 477 million a year earlier. The EBITDA margin was 7.4 percent versus 8 percent a year earlier. Excluding special items, the margin was 7.8 percent compared with 7.9 percent a year earlier.

    Aker Solutions has two reporting segments: Projects and Services. Revenue in Projects declined to NOK 4.2 billion in the quarter from NOK 5 billion a year earlier amid generally lower market activity and on some projects nearing completion.

    The EBITDA margin was 7.6 percent in the quarter versus 8 percent a year earlier. Revenue in Services rose to NOK 1.2 billion in the quarter from NOK 1 billion a year earlier, driven mainly by growth from the acquisition of C.S.E. Mecânica e Instrumentação in Brazil in December last year. The EBITDA margin expanded to 13.5 percent in the quarter from 11.3 percent a year earlier, helped by strong operational performance and high installation and commissioning activity.




2018 September 25

14:11 CMA CGM to review sales policy regarding Low Sulphur IMO 2020 Regulation
13:49 NIBULON successfully completed its passenger transportation season
13:11 North Carolina Ports’ terminals resume full commercial operations following hurricane Florence
12:50 Fuel oil prices are going up in the Far East ports of Russia (graph)
12:31 Havila Kystruten selects Havyard to deliver the ship design and extensive equipment package for four new vessels
12:14 European ports welcome Parliament’s explicit support to remove the tax barriers for shore-side electricity for ships
12:01 Long Beach Commission OKs budget for expanded rail yard
11:43 DHT Holdings announces $50 mln scrubber financing
11:32 Nevsky Shipyard takes part in «Marintec Offshore Russia» exhibition
11:00 GTT receives a new order from Samsung Heavy Industries for the tank design of two new LNG carriers
10:55 NYK announces delivery of new wood-chip carrier for Hokuetsu Corporation
10:24 Baltic Dry Index is up to 1,434 points
10:01 Brent Crude futures price up 0.2% to $80.69, Light Sweet Crude – up 0.12% to $72.17
09:38 Yaroslavsky Shipyard lays down oil recovery vessel of Project Р2114 for Transneft
09:15 Audit summary report to be considered by Sub-Committee on Implementation of IMO Instruments

2018 September 24

18:36 DNV GL unveils the complexity of ocean governance in report for the UN Global Compact
18:03 Klaveness Combination Carriers AS announces completion of USD 45.0 million private placement
17:52 Port of Southampton recognised in top 20 under 40 cruise award
17:36 CMA CGM announces GRR from India West Coast to Mozambique
17:03 Metropolitan Plan for Great Newcastle endorses Port of Newcastle vision
16:50 Ust-Luga Container Terminal handles cargo for Nord Stream 2
16:47 Wightlink names its new flagship
16:45 Bomin exits the bunker markets in Singapore and Antwerp
16:43 Hamburg and St. Petersburg strengthen cooperation at the Port Evening
16:33 DNV GL ends operations in Iran by 4th November
16:19 Vladimir Panchenko dredger built by Shipbuilding - Ship Repair Corporation features local content of 90%
16:03 IMO sadness over Nyerere casualty
15:47 Moby Dik terminal starts handling vessels of Sea Connect line
15:33 Wärtsilä inaugurates upgraded EGC test facilities in Norway
15:20 ESPO wants more ambition on harmonisation of data, while maintaining flexibility in reporting systems
15:03 Vinalines to build 2 terminals at $299 mln in Lach Huyen Port
14:46 Port of Antwerp presents smart port of the future at Supernova
14:33 DFDS Seaways raises capacity on route Zeebrugge - Norway
14:18 Feasibility study of concession of state stevedoring companies «Olvia» and «Kherson» presented for acquaintance to potential investors
14:03 Norway’s largest cruise port of Bergen to build Europe’s largest onshore power supply facility
13:59 Sea Port of Saint-Petersburg named one of the best transport infrastructure facilities
13:34 Average wholesale prices for М-100 HFO up to RUB 21,529 in RF spot market
13:11 Okskaya Sudoverf lays down fourth dry cargo carrier of Project RSD32M
12:45 NOVATEK shipped first LNG cargo to Brazil
12:23 Finalists for the Seatrade Maritime Awards in Dubai announced
12:00 Nor-Shipping 2019 takes place in Oslo and Lillestrøm, Norway, from 04 to 07 June 2019
11:16 Longline factory ship Marlin laid down by Severnaya Verf shipyard to feature 40% of local content
10:54 Damen performs float-out of Australian icebreaker
10:52 NOVATEK increases number of Management Board members
10:28 Smart shipping to be under the spotlight at Seatrade Maritime Middle East
10:05 Baltic Dry Index is up to 1,413 points
09:43 Brent Crude futures price up 1.25% to $79.22, Light Sweet Crude – up 1.2% to $71.63
09:21 Freeport of Riga’s project on construction of Krievu Island Terminal enters its final phase
09:00 Vice Premier Han Zheng inspected COSCO-PSA terminal in Singapore
08:14 International maritime community reaffirms cooperation in the Straits of Malacca and Singapore

2018 September 23

10:47 DEME unveils innovative nodule collector pre-prototype ‘Patania II’
10:33 Global Ship Lease secures additional charter coverage and adds Maersk Line to charterer portfolio
10:30 Hapag-Lloyd announces rates from Latin America to North Europe and South Europe

2018 September 21

18:06 Forth Ports wins prestigious award for community work
17:44 NCSP Group's cargo turnover for January–July 2018 totaled 82,351 thousand tons
17:28 First ISO-container ever loaded with liquefied natural gas at the LNG terminal in Świnoujście
17:06 Gibdock, RSP Systems and New Zealand fisheries choose LR
16:31 Outlook for marine cargo insurance challenging but opportunities remain for underwriters, says IUMI
16:04 Babcock ecoSMRT receives LR acknowledgement for ship application
15:09 Trafigura holds naming ceremony for first of 35 newbuild crude oil and product tankers