BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Tallink cites higher bunker costs as key reason for lower results

Financial results were 'significantly impacted' by the increase in fuel prices, says CEO.



The 35,154-grt ro-ro passenger ship Tallink Isabelle, pictured in the summer of 2017. Image credit: Marko Stampehl Tallink


Updated on 09 Aug 2018 09:51 GMT

Cruise vessel operator Tallink reports that net profit fell year-on-year (YoY) both in the second quarter (Q2) and first half (H1) of 2018, with higher bunker costs cited as being one of the key reasons.

Between April and June, net profit was lower YoY by EUR 2.6m, or 14.7 percent, to EUR 15.3m.

Gross profit declined by EUR 2.2m, or 3.8 percent, to EUR 57.1m, whilst earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped EUR 5.4m, or 10.9 percent, to EUR 43.5m.

Revenue in Q2 dipped EUR 4.5m, or 1.7 percent, to EUR 255.4m.

For H1, meanwhile, Tallink posted a net loss of EUR 4.29m, compared to the net loss of EUR 2.41m for the corresponding period in 2017.

Gross profit for the first six months decreased YoY by EUR 3.4m, or 4.6 percent, to EUR 70.76m, and revenue was down 11.8m, or 2.6 percent, to EUR 439.6m.

Discussing the results, Tallink explained that higher fuel costs were one of the main reasons for the lower figures compared to 2017.

The company observed that higher bunker prices globally had had a negative effect on the results of all its geographical segments.

"The results were significantly impacted by the increase in fuel prices in global markets compared to the same period last year," Paavo Nogene, CEO of Tallink Grupp AS, said.






Related Links:

Tallink posts 2017 profit despite higher bunker costs
Tallink achieves Q3 growth despite rise in bunker costs
Estonia

Latest News:

IMO launches toolkits to tackle ship and port emissions
Bunker-saving JIT study presented at IMO HQ
Working group to finalize Initial Strategy programme for MEPC 73
Oil and fuel oil hedging market update
Bunker issues pack MEPC 73 agenda
Volatility around $80
Arkas and Sumitomo ink Turkey LNG bunkering accord
MEPC 73: Coalition calls for 'urgency' to adopt CO2 reduction measures
Concept ship shows IMO CO2 reduction targets can be met: Project Forward
Oil and fuel oil hedging market update
Tallink signs LOI to build second LNG-fuelled ferry
Will Saudi Arabia be able to replace Iranian oil?




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events