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Home » News » Financial News - Q3 2017

Financial News - Q3 2017

Cosco Shipping Intl posts 75% jump in H1 bunker revenue
29 Sep 2017 08:13 GMT
Bunker earnings up 30% as Cosco benefits from Double Rich profit share increase and sees 63% sales volume improvement for Sinfeng Marine.

Ecoslops sees H1 revenue almost double, posts first positive EBITDA in Portugal
28 Sep 2017 00:02 GMT
CEO says slops specialist 'now has every reason to consider the future with confidence'.

Carnival posts $42m rise in Q3 bunker costs... but still manages $1.3bn profit
27 Sep 2017 06:28 GMT
Ferry operator saw bunker expenses increase 15.8% in Q3, whilst the average price per tonne was up 12.8%.

Brightoil delays publication of annual results
26 Sep 2017 14:10 GMT
Company says release of unaudited accounts could cause 'confusion' amongst shareholders and potential investors.

Fluxys focuses investment on Zeebrugge's fifth LNG tank and second jetty
21 Sep 2017 13:16 GMT
Company says most of its EUR 36m investments in H1 went towards building extra storage and the new jetty in Zeebrugge.

K Line posts dip in annual bunker consumption
20 Sep 2017 12:39 GMT
Data indicates that the Japanese firm consumed 1.8% less fuel and that bunker expenses fell 11.8%.

VTTI Energy Partners unitholders approve merger with VTTI B.V.
13 Sep 2017 11:42 GMT
Merger is expected to close on Friday, September 15.

Seadrill outlines restructuring plan following Chapter 11 filing
13 Sep 2017 07:44 GMT
Plan extends and re-profiles secured bank debt, reduces leverage and delivers $1.06 billion of new capital.

Malaysian supplier expects 90% of future business to come from bunkering
11 Sep 2017 10:56 GMT
New MD of Straits Inter Logistics says 'the contribution from bunkering will significantly increase'.

Hellenic Petroleum reports rise in bunker sales demand
01 Sep 2017 09:39 GMT
Greek refiner recorded an increase in bunker sector sales in Q2 and H1.

Moore Stephens warns of exposure to changing risk landscape
01 Sep 2017 00:06 GMT
Shipping survey suggests management of risk has improved slightly over the last 12 months.

Marine fuel supplier Nakhodka-Portbunker forced into liquidation: source
29 Aug 2017 09:41 GMT
Gazprombank and Rosbank are said to have pushed for liquidation after the Russian bunker firm racked up huge debts.

Quadrise 'knows of no specific reason' for share price drop following rally
25 Aug 2017 14:39 GMT
Share value falls more than 20% on Friday, but is still up almost 50% since the start of the week.

Grindrod to decide on separate shipping listing by end of 2017
24 Aug 2017 10:37 GMT
Board 'does not believe that the value of the Shipping business is fairly reflected in the Grindrod share price'.

Cockett posts H1 loss, Grindrod records 33% fall in marine fuel profit
24 Aug 2017 09:16 GMT
Decline in shipping division bunker profit seen despite 49% jump in revenue.

Odfjell reports net loss as bunker costs rise YoY and fall sequentially
24 Aug 2017 06:38 GMT
Norwegian firm expects H2 results to be 'largely in line' with H1.

This is why Maersk Oil Trading is not part of the Maersk Oil sale to Total
21 Aug 2017 10:55 GMT
Maersk Oil Trading's transactions are reported as unallocated activities within Transport & Logistics.

Rosneft closes 49% acquisition of Essar Oil
21 Aug 2017 08:57 GMT
Trafigura and UCP also close their acquisition of a 49.13% share in the firm.

Vopak aims to strengthen LNG presence as division posts H1 growth
18 Aug 2017 10:53 GMT
LNG and Americas divisions both achieve boost in operating profit.

Viking Line expects 2017 bunker bill to rise as H1 fuel costs jump 23.3%
17 Aug 2017 13:46 GMT
Ferry operator says higher expected bunker prices in 2017 'should have an adverse effect on consolidated income'.

DFDS expects bunker surcharges to push 2017 revenue up 1%
17 Aug 2017 12:02 GMT
CEO says group is on track to improve on last year's record result.

Norden to continue fuel efficiency drive after 2017
17 Aug 2017 09:13 GMT
Cost-cutting initiative said to be 'on track' as company achieves annual savings of $18.1 million.

Grindrod expects H1 loss to be an improvement on last year
16 Aug 2017 14:16 GMT
Shipping division, which includes bunker firms Cockett and Unicorn, recovered to above cash breakeven.

Containerships targets improved profitability via bunker-saving initiatives
16 Aug 2017 12:55 GMT
Earnings 'particularly affected' by higher marine fuel costs.

Aegean posts profit drop as 'sales margins remain under pressure'
11 Aug 2017 00:02 GMT
Sales volume rose by 9.3% and 7.5% in Q2 and H1 respectively.

NCL posts 36% Q2 profit growth as bunker costs rise $6.1 million
10 Aug 2017 13:20 GMT
Q2 and H1 fuel expenses increased by 7.5% and 8.2% respectively.

Quadrise announces cost-cutting initiatives as chairman slashes salary by 50%
10 Aug 2017 09:38 GMT
Company expects strategy to deliver annualized savings of more than GBP 500,000.

Higher bunker prices drive up voyage costs as Eagle Bulk posts another loss
08 Aug 2017 06:05 GMT
Q2 loss recorded despite 109.6% jump in revenue.

OOIL swings into profit ahead of Cosco takeover despite 64.5% jump in bunker costs
07 Aug 2017 11:50 GMT
Chairman voices support for Cosco $6.3 billion deal.

LNG bunker supplier Clean Energy posts Q2 loss, $43.2m H1 profit
04 Aug 2017 14:17 GMT
LNG sales volume dipped in both periods.

Torm orders two bunker-saving resale tankers
03 Aug 2017 11:38 GMT
Fuel-efficient, medium-range (MR) vessels are scheduled to be delivered in Q3.

Neste's new high-viscosity 0.1% marine fuel unit set to reach 'high' utilization in H2
03 Aug 2017 09:18 GMT
Solvent deasphalting unit expected to reach 'high capacity utilization' during the second half of the year.

Owner of bunker supplier Marine Petrobulk posts 56.8% rise in H1 net earnings
02 Aug 2017 11:46 GMT
Q2 net earnings fell 22.3% for Seaspan Corporation.

Royal Caribbean consumes 6.4% less fuel in Q2 as net income jumps 60.7%
02 Aug 2017 10:22 GMT
Cruise operator saw H1 bunker expenses drop 1.2% and net income skyrocket 77.6%.

Trasmediterranea posts drop in earnings, citing higher bunker costs
01 Aug 2017 13:40 GMT
EBITDA fell 88.7 percent to EUR 2 million in H1.

World Fuel Services' share price plummets 13.2 percent
31 Jul 2017 10:23 GMT
New 52-week trading range following Friday's slump.

Gulf Petrochem targets 'global growth' following $150m financing deal
31 Jul 2017 09:28 GMT
Eight-year term loan provided by a syndicate of banks led by Emirates NBD.

MOL pays 41% more for bunkers in Q1, revises FY fuel price forecast down 6.6%
31 Jul 2017 07:55 GMT
Japanese shipowner paid an average $319 per tonne in the first fiscal quarter.

Gazpromneft-Lubricants reports 7.5% rise in H1 marine lube sales
28 Jul 2017 11:27 GMT
Russian firm says it sold 7,500 tonnes of lubricants in H1.

World Fuel Services' 12-month bunker sales drop below 30m tonnes for first time in two years
28 Jul 2017 10:08 GMT
12-month sales have fallen in five consecutive quarters between Q2 2016 and Q2 2017.

World Fuel Services' marine profit dips as revenue rises despite lower sales volume
28 Jul 2017 00:02 GMT
Q2 and H1 marine gross profit fall 17% and 15.5% respectively.

Finnlines: Higher bunker prices and surcharges support rise in costs and revenue
27 Jul 2017 11:27 GMT
CEO hails fuel-saving initiatives as operator posts best H1 result in its history.

Total: Fuel oil cracks supporting 'favorable' Q3 refining margins
27 Jul 2017 08:42 GMT
Downstream business said to be 'well positioned' to achieve around $7 billion in operating cash flow this year.

Samskip 'extremely pleased' to add two LNG-fuelled ships in Nor Lines takeover
26 Jul 2017 08:48 GMT
Logistics firm will be incorporating the general cargo ships Kvitnos and Kvitbjorn to its fleet.

GTT highlights subsea LNG bunkering solution in H1 review
24 Jul 2017 08:28 GMT
Gravity Based System consists of a concrete chamber and a membrane containment tank designed by GTT.

LNG bunker player Enagas posts after-tax profit of EUR 269.1 million
19 Jul 2017 09:38 GMT
Spanish firm managed to reduce its net debt by EUR 607 million in H1 2017.

Revenue up 29% for bunker supplier Skangas as Gasum targets LNG growth
18 Jul 2017 13:24 GMT
CEO says company 'strengthened its position' in H1 by increasing its Skangas stake to 70%.

Petrobras approves IPO for fuel distribution unit
12 Jul 2017 05:35 GMT
Move is aimed at listing BR Distribuidora on the Novo Mercado special listing segment of the B3 stock exchange.

Bunker costs up $3.7m for Stolt Tankers as profit drops
06 Jul 2017 12:35 GMT
Stolt Tankers also recorded a $3.8 million negative swing with a net loss on bunker hedges.

'Rough seas like never before': Bunker Holding, Selfinvest record sharp fall in earnings
03 Jul 2017 16:06 GMT
Danish bunker group sees profit slashed despite rise in turnover.

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