Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Mon 12 Nov 2018, 13:35 GMT

Higher bunker prices help push up Hanwa's overseas revenue


Segment income jumped 210 percent in Q2.

Image credit: Unsplash
Japan's Hanwa reports that revenue generated by its overseas sales subsidiaries increased partly due to higher bunker prices during the firm's second financial quarter (Q2), which runs between July and September.

In Q2, Hanwa's international subsidiaries recorded a year-on-year (YoY) revenue increase of JPY 39.79bn ($350m), or 35.9 percent, to JPY 150.64bn ($1.3bn), whilst segment income climbed 210 percent from JPY 217m ($1.9m) to JPY 673m ($5.9m).

In addition to rising marine fuel prices, Hanwa also cited increased sales of metal scrap in Singapore and steel in Indonesia, as well as improved profitability for its US steel business, as other reasons for the YoY improvement.

Tokyo-headquartered Hanwa has a bunker trading office in Singapore and, according to its website, also has marine fuel traders based at its offices in Beijing, Ho Chi Minh City, London, Mumbai, New York, Seoul and Vladivostok.

Overall, Hanwa's total Q2 revenue grew YoY by JPY 179.8bn, or 21 percent, to JPY 1,056.9bn ($9.3bn). Gross profit was up JPY 4.3bn, or 13 percent, to JPY 37.9bn ($333m), whilst net income declined by JPY 2.4bn, or 28 percent, to JPY 6.3bn ($55.3m).

ESVAGT Robert Boyle vessel at the Port of Immingham. UK's first commercial biomethanol bunkering service launches at Immingham  

Exolum, Methanex and Ørsted partner to supply biomethanol for shipping at the UK's largest port by tonnage.
Vitol Bunkers vessel alongside terminal facility. Vitol Bunkers launches HSFO supply in Pakistan after four-year hiatus  

Company resumes high-sulphur fuel oil bunkering at three Pakistani ports following earlier VLSFO and LSMGO launches.
Aerial view of CIMC SOE shipyard facility. CIMC SOE secures orders for three LNG bunkering vessels  

Chinese shipbuilder adds two 20,000 cbm and one 18,900 cbm LNG bunkering vessels to order book.
HADAG Type 2030e ferry render. Lehmann Marine to supply battery systems for Hamburg’s first electric ferries  

German firm wins contract for three 3.8 MWh systems for HADAG vessels entering service in 2028.
Viking Glory vessel. Viking Line green corridor project marks two years with biogas use and shore power progress  

Turku-Stockholm route partnership reports tenfold increase in renewable biogas use and advancing electrification infrastructure.
MV Blue Alliance vessel. Global Fuel Supply unveils Blue Alliance tanker after Dubai upgrade works  

Marine fuel supplier completes intermediate survey and technical upgrades on vessel ahead of operational service.
Everllence common-rail technology illustration. Everllence common-rail technology surpasses 20 million operating hours  

Engine maker’s common-rail systems reach milestone across 600 engines and 5,500 cylinders over 18 years.
Representatives from LR Advisory and Geogas. LR Advisory appointed by Geogas Trading to develop FuelEU Maritime compliance strategy  

Lloyd’s Register division to support charterer with emissions planning and FuelEU pooling operationalisation.
Photograph of a red container vessel. ICS survey shows maritime leaders favour LNG as industry awaits IMO net-zero vote  

Barometer reveals strategic shift towards conservative fuel choices amid regulatory uncertainty over decarbonisation framework.
Petrobras logo. Petrobras bunker operations to close for Carnival, with higher prices during holiday period  

Brazilian headquarters shut 16-18 February; Rotterdam office to handle new sales during closure.

↑  Back to Top


 Recommended