• 2019 March 14 18:07

    VIKING’s 2018 shaped by renewed growth and a major acquisition

    After two years of slightly declining revenue, VIKING Life-Saving Equipment A/S is seeing growth once more, the company said in its release.

    In 2018, VIKING acquired the Norwegian manufacturer of lifeboats Norsafe AS. Adjusting for the costs of integrating this business and the impact on revenue in the last quarter of the year, the results show growth in both revenue and earnings. 

    Norsafe’s lifeboat sales are included in the figures for the last three months of the year and have helped VIKING surpass DKK 2 billion in revenue for the first time in the company’s history. Profit before tax amounted to DKK 155.4 million on revenue of DKK 2,015.6 million, which given the one-off costs of acquisition and integration of Norsafe is considered satisfactory. 

    In recent years, VIKING has carried out a number of smaller acquisitions to build a more complete range of safety solutions. With Norsafe, which develops and manufactures high-quality lifeboats and cranes for the global market, the company is taking yet another major step in this direction. 

    The market for maritime safety equipment remains highly competitive. For several years, VIKING has successfully navigated competitive challenges by bundling the sale of new products with multi-year service concepts, such as VIKING Shipowner Agreement (SOA), which continues to show double-digit growth, excellent customer satisfaction and very high renewal rates. 

    The markets in VIKING’s biggest segments – Cargo, Passenger and Offshore – have developed in very different directions. As Cargo remains fluctuating due to uncertainties related to global trade agreements, the newbuild market, while still under pressure, is gradually normalizing and general market conditions stable.  Meanwhile, the Offshore segment is recovering after the sharp fall in oil prices in 2014.

    The launch of LifeCraft™, the groundbreaking evacuation solution for the cruise ship market, is imminent after years of development and a highly complex approval process. The successful completion of the critical heavy weather sea trial in November 2018 means that the hybrid between a liferaft and a lifeboat will be market-ready as soon as the final regulatory approvals are issued. 

    ABOUT VIKING: 

    VIKING Life-Saving Equipment is a global market leader in maritime and offshore safety. Headquartered in Denmark, the corporation manufactures, supplies and services everything from chute and slide-based evacuation systems to liferafts, lifejackets, immersion suits, firefighting equipment, aviation safety gear, lifeboats, hooks, davits and more.




2020 January 23

12:05 Port of Long Beach moves more than 7.6 million TEU in 2019
11:48 Croatian DIV Group in process to take-over Kleven Verft
11:00 Austal awarded A$15.5m contract for a 41 metre high speed catamaran ferry for SGTM Mauritius
10:56 MABUX: Bunker market this morning, Jan 23
10:27 ABS marks record-setting three years without a work-related lost time injury
10:25 IBIA: IMO 2020 preparations pay off
10:03 Brent Crude futures price is down 0.4% to $64.33, Light Sweet Crude – down 0.48% to $58.1
09:46 TransContainer dispatched test train with hazardous cargo in reefers from Korea to Poland
09:24 Baltic Dry Index is down to 623 points
09:08 Swissterminal and DP World enter strategic partnership
08:36 CMA CGM introduces NETWORKING INTERMEDIATION SERVICES

2020 January 22

18:37 BunkerTrace secures first commercial partnership with Marfin Management
18:07 MAN Cryo to supply icebreaking RoRos with fuel gas supply system
17:45 Throughput of Chinese sea and river ports in 2019 grew by 5.7% YoY to 13.95 billion tonnes
17:20 Ships of RF Navy’s Northern Fleet approached the Strait of Tunis
17:06 Boluda Towage Europe introduces 1st retrofit of conventional tug complying with IMO TIER III Standards in Zeebrugge
16:56 Russian-Japanese anti-piracy exercise successfully completed in the Arabian sea
16:05 European shipping industry urges the revival of Operation Sophia
15:38 Marubeni and Klaveness join forces to create the world’s leading dry bulk Panamax pool
15:23 IMO Secretary-General calls for renewed cooperation at Davos forum
14:57 Positive steps for Somalia’s maritime sector
13:40 Medium sized sea tanker Akademik Pashin entered service with the Baltic Fleet
12:52 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
12:29 Nonius Engineering supports 7th International Forum of Dredging Companies as its Sponsor
11:44 NIBULON’s fleet transported a record number of cargoes by Ukrainian rivers in 2019
11:19 DNV GL’s Technology Outlook 2030: Digital acceleration and climate change
11:01 IMO Secretary-General assesses progress on sulphur limit implementation
10:58 NIBULON’s non-self-propelled B1500 Project vessel made its first cargo trip
10:36 Nibulon achieved record export results in 2019
10:13 Representatives of Russian and Japanese Navies held briefing on board Baltic Fleet’s guard ship
10:10 MABUX: Bunker market this morning, Jan 22
09:51 Ministers of the Government of the Russian Federation appointed
09:32 Brent Crude futures price is down 0.4% to $64.33, Light Sweet Crude – down 0.48% to $58.1
09:15 Baltic Dry Index is down to 689 points

2020 January 21

18:27 ABS and Hyundai Heavy Industries complete landmark smart functions JDP
18:07 Mystic orders four more Explorer Class Polar expedition vessels
17:43 Outer Port is among main topics of Polish-Japanese economic cooperation
17:19 Wärtsilä LNG Bunkering & Fuel Supply System Simulator launched to raise training levels
17:18 BCT ends 2019 with highest every cargo handling of 500 000 TEU
16:55 Letter of Intent signed between Port of Gdynia Authority S.A. and Pelixar S.A.
16:14 New ASCO vessel to be named after Academician Khoshbakht Yusifzadeh
15:30 Port of Singapore throughput in 2019 declined by 0.6% to 626.18 million tonnes
15:01 Freight turnover of Neva-Metal (Saint-Petersburg) in 2019 remained flat Y-o-Y at 3.2 million tonnes
14:39 18,880 ships with total tonnage of 1.2 billion tonnes passed Suez Canal in 2019
14:06 BIMCO issues update on Persian Gulf tensions and sanctions clauses
13:42 Rosmorport reports on icebreaker support in Russian seaports as of mid-January 2020
13:17 Throughput of port Kaliningrad in 2019 fell by 21% Y-o-Y to 11.06 million tonnes
12:53 Eesti Gaas becomes one of the largest LNG suppliers in the region
12:28 Throughput of port Vyborg in 2019 fell by 37% Y-o-Y to 1.21 million tonnes
12:05 German Naval Yards Kiel takes legal actions against MKS 180 procurement
11:54 Bunker sales at the port of Singapore in 2019 fell by 4.6% Y-o-Y to 47.5 million tonnes
11:29 Throughput of port Vysotsk in 2019 climbed by 3% Y-o-Y to 19.40 million tonnes
11:05 Fincantieri enters the green cutting-edge project “ITER”
10:52 Throughput of port Primorsk in 2019 grew by 14% Y-o-Y to 61.02 million tonnes
10:37 Software for ship agents supported with digitalisation grant
10:21 Baltic Dry Index is down to 729 points
10:05 Brent Crude futures price is down 0.55% to $64.84, Light Sweet Crude – down 0.32% to $58.39
09:53 MABUX: Bunker market this morning, Jan 21
09:47 MOL Logistics (Thailand) strengthens total logistics services
09:30 Port of Ust-Luga handled 103.85 million tonnes in 2019, up 5% Y-o-Y