• 2019 July 17 10:40

    Gasum Group reports its financial results for Q2 2019

    Gasum Group has published its key financial indicators January 1 to June 30, 2019:

    •  Group revenue increased by 6% and totaled €632.5 million (H1/2018: €597.5 million)
    •  Operating profit totaled €76.3 million, flat year on year (€76.3 million)
    •  Balance sheet total increased to €1,574.4 million (December 31, 2018: €1,526.6 million) following the introduction of the new IFRS 16 standard
    •  The Group’s financial position remained strong in the reporting period, with the equity ratio being 43.9% (December 31, 2018: 43.7%)

    Gasum Group CEO Johanna Lamminen comments on the first half of 2019:

    ”Our financial performance was in line with our expectations during H1. Our revenue increased to €632.5 million, up 6% year on year (€597.5 million) and our operating profit for the period under review was €76.3 million (€76.3 million), which was flat compared to a year earlier. 

    During H1, we took our strategy steadfastly forward and together with our personnel updated our strategic targets for future years. Demand for cleaner energy solutions is showing strong growth in industry and total gas sales volumes are projected to further increase. As a low emission fuel, the role of gas will increase in the future, above all in maritime transport and heavy-duty road transport as action to curb climate change calls for a transition to cleaner solutions.

    Gasum’s associated company Manga LNG Oy’s LNG terminal in Tornio, Finland was opened in early June. The new terminal is a response to growing demand for low-emission LNG and strengthens security of LNG supply in the northern parts of the Nordic countries. The terminal will significantly support the competitiveness of the region by ensuring the availability of an affordable, low-emission form of energy to meet the demands of local industry as well as maritime and heavy-duty road transport.

    During the period under review, we entered into significant partnerships in different businesses, of which the most important are two liquefied natural gas supply contracts to industry: Forchem Oy’s tall oil distillery in Rauma and Eastman Chemical Company Oy’s production site in Oulu. Gas offers industrial operators a good alternative to achieve emissions targets.

    Growing the road fuel gas market and increasing biogas production are key elements in Gasum’s strategy. We have acquired the Mäkikylä biogas plant in Kouvola, Finland from Kouvola Vesi Oy. The transaction enables us to invest in the expansion of the Mäkikylä plant with the aim of increasing biogas production and modernizing the processes at the plant to bring them into line with today’s requirements. During the period under review, we also made
    an investment decision to construct a biogas plant at Munkkaa in conjunction with the Lohja waste management center. On completion, the plant is expected to produce more than 40 GWh of biogas and 50,000 tonnes of organic fertilizers a year.

    During the period under review, we opened three gas filling stations to meet the needs of heavy-duty transport and three filling stations for passenger cars. In addition, other operators are also building new gas filling stations, which will further complement the filling station network. Adding to the network of gas filling stations promotes the circular economy and supports national emissions reduction targets by helping Nordic transport to switch over to using cleaner fuel solutions.”


2024 March 28

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17:35 Latvian port equipment manufacturer Bleste introduces new bulk handling ‘bucket’
17:05 Investors upgrade Navios Maritime Partners
16:25 DEME reports 22% increase in the orderbook and a record-high turnover of 3.3 billion euros in 2023
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13:48 ClassNK grants Innovation Endorsements for Products & Solutions to two innovative initiatives by MOL
13:37 Konecranes launches its flagship Konecranes X-series industrial crane
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10:42 Maersk transported more than 660,000 TEU using clean fuel in 2023
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2024 March 27

18:22 Bureau Veritas awards world’s first prototype certification for SolarDuck’s floating offshore solar solution
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14:53 Ocean Installer secures yet another SLM contract with Equinor
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13:42 Carnival Cruise Line orders 5th Excel-class cruise ship
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12:52 The Port Authority of Valencia launches the ZAL project in the Port of Valencia
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2024 March 26

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16:57 Terntank places an order for 1+1 additional wind/ methanol-ready hybrid tanker
16:28 BW LNG completes acquisition of two TFDE vessels from Stena Bulk
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15:20 TotalEnergies and SINOPEC join forces to produce sustainable jet fuel at a SINOPEC's refinery
14:52 Wärtsilä Lifecycle Agreement to guarantee operational reliability of new wind farm installation vessel
14:23 Hudong-Zhonghua launches two LNG carriers
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12:42 Adani Ports acquires 95% of Odisha's Gopalpur Port from SP Group for $162 million
12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
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11:16 Wartsila and Royal Caribbean Group celebrate 15 years of collaboration on digital transformation
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2024 March 25

18:07 The Maritime and Port Authority of Singapore continues to investigate reports of oil spills off the port of Tuas
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14:40 Taiwan International Port to upgrade terminal facility at Kaohsiung
13:59 Сruise ship Carnival Freedom catches fire near Bahamas
12:59 Hanwha Ocean wins 2.4 tln-won order for 8 LNG ships
11:16 Inland Ports meet in Paris to talk about the innovation potential of inland ports
10:50 IMO agrees possible outline for maritime “net-zero framework”
10:24 Hapag-Lloyd to continue to avoid the Red Sea route
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2024 March 24

16:18 Inchgreen Marine Park upgraded as part of £11m investment
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09:25 Edda Wind announces the sale of Edda Passat