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Home » News » Financial News - Q3 2018

Financial News - Q3 2018

Brightoil backlog: Release of 2018 annual results also delayed
28 Sep 2018 10:42 GMT
Annual results and report will not be released by Sep 30 and Oct 31, respectively.

Carnival posts record Q3 despite 41% jump in bunker costs
28 Sep 2018 00:51 GMT
Fuel expenses rose to $434m as average bunker price climbed $153 to $531 per tonne.

Ecoslops posts H1 decline in revenue, profit
27 Sep 2018 00:34 GMT
Positive EBITDA of Sines plant is 'proof of the reliability of the business model', says slops-to-bunkers firm.

Sulphur surcharges 'stink': Maersk BAF 'lacks transparency', says shipper group
26 Sep 2018 00:19 GMT
Trade association reacts with 'suspicion' to Maersk's decision to change its BAF calculation.

Sulphur 2020: CMA CGM to review fuel surcharge policy
25 Sep 2018 01:34 GMT
Surcharges to address extra $160/TEU in fuel compliance costs, says shipper.

DHT secures $50m scrubber financing
25 Sep 2018 01:05 GMT
Financing structured through increase of DHT's existing $300m credit facility.

Quadrise has 'high degree of confidence' about securing equity funding
24 Sep 2018 10:13 GMT
UK firm upbeat about clinching long-term financing.

Sale of Odfjell Terminals Rotterdam completed
21 Sep 2018 00:08 GMT
Odfjell SE banks $100m from the deal.

Freight association slams 'yet another surcharge' by box carriers
20 Sep 2018 00:02 GMT
Launches stinging attack, describing sulphur surcharge as 'unjustified and blatant profiteering'.

Genco takes delivery of three 'fuel-efficient' ships
12 Sep 2018 07:37 GMT
Bunker-saving vessels 'ideal' for long-haul trades, says shipper.

CMA CGM posts steep profit decline amid 'rising fuel costs'
10 Sep 2018 14:15 GMT
Operating expenses rose mainly due to higher bunker prices and volumes carried, shipper says.

Brightoil bemoans 'staggering' investigation costs; seeks alternative
05 Sep 2018 00:22 GMT
Bunker firm concerned expenses associated with independent review could get 'out of control'.

Grindrod's bunker arm profits from higher prices and tonnage
03 Sep 2018 09:35 GMT
Profit to shareholders from marine fuel and agri business leaps 171 percent.

Straits sees revenue from bunkering and oil trading jump 65%
29 Aug 2018 00:02 GMT
Revenue up to $10.75m as firm targets expansion of its marine fuels business.

The lowdown on bunker firm Tumpuan Megah as 55% acquisition nears completion
28 Aug 2018 15:21 GMT
Tumpuan business overview and how Straits Inter Logistics would expand its operation.

Straits' executive director set to land 5.0-6.6% stake
28 Aug 2018 13:47 GMT
Tony Tan in line to secure his first shares in bunker firm if September vote goes his way.

Straits Inter Logistics to hold bunker acquisition vote in three weeks
28 Aug 2018 10:14 GMT
Shareholders to vote on proposed acquisition and private placement at EGM on September 18.

Odfjell posts rise in bunker costs and $120m net loss
24 Aug 2018 08:34 GMT
Gradual improvement for chemical tankers expected towards end of 2018; stable results forecast for terminals.

Viking Line's bunker costs rise 3.6% in H1
17 Aug 2018 13:34 GMT
Finnish ferry operator spent EUR 24.1m on bunker fuel during the first half of the year.

Maersk profitability 'significantly impacted' by higher bunker costs
17 Aug 2018 10:06 GMT
EBITDA negatively affected by bunker price increases not being recovered via freight rates.

Sealed in a month: Mercuria takes 30% stake in Aegean as refinancing transaction is agreed
16 Aug 2018 14:14 GMT
Mercuria still also has the exclusive right to pursue a broader strategic partnership until January 31, 2019.

Higher bunker prices add EUR 4.1m to operating costs: Containerships Plc
16 Aug 2018 13:13 GMT
EBIT 'particularly affected' by increased fuel costs, says CEO... but it still managed to grow 45.2% in H1.

Earnings growth dampened by lag in recovery of higher bunker costs: DFDS
16 Aug 2018 09:34 GMT
Danish firm still manages 8.7% rise in EBITDA and $62m net profit.

Commercial product margin up 41.5% 'primarily' due to increased bunker activity: Global Partners
14 Aug 2018 10:29 GMT
Commercial arm's product margin jumped to $5.8m in Q2 - mainly thanks to marine fuel sales.

Aegean Marine gets extra 90 days to avoid note default
14 Aug 2018 07:41 GMT
Agrees to pay additional 0.5% on next interest payment... but gives 'no assurance' that the issue will be resolved in time.

Sing Fuels appoints finance and operations director
13 Aug 2018 09:28 GMT
Krish Srinivasan will head the firm's global finance and operations team from Singapore.

Wallenius opts for 'balanced' 2020 strategy with low-sulphur fuels and scrubbers
10 Aug 2018 16:27 GMT
Scrubber retrofits on 20 ships... but some set to miss IMO deadline with installations due to continue until 2022.

Hapag sees bunker use climb 0.5m tonnes as average fuel price soars $73
10 Aug 2018 12:18 GMT
Shipper consumed 2.2m tonnes of fuel in H1; average bunker price was 23.4% higher than last year.

NCL posts 9.9% rise in bunker costs as Q2 earnings climb to $226.7m
10 Aug 2018 10:08 GMT
Net income grows 14.2%; average bunker price up $12 to $481.

DHT expects to spend $55m on 12 scrubber retrofits
09 Aug 2018 17:08 GMT
'Confident' it will be able to finance most of the project; further scrubber installations not discounted.

Aegean announces three senior appointments and new management committee
09 Aug 2018 13:38 GMT
Names new COO, CFO and Global Director of Supply and Trading; former COO and CFO leave firm.

Bunker Holding sees 'controlled growth' as preferred long-term strategy
08 Aug 2018 08:35 GMT
CEO Keld Demant discusses the group's master plan for 2020 and beyond.

Eagle Bulk swings into profit despite higher bunker prices driving up voyage costs
08 Aug 2018 07:55 GMT
CEO says business model has now been validated over six consecutive quarters.

Finnlines announces bunker surcharge for Malmo-Travemunde route
02 Aug 2018 08:57 GMT
Baltic operator notes that its bunker fees have risen since the recent increase in fuel prices.

NYK pays 21% more for bunkers in Q1, posts losses
01 Aug 2018 00:23 GMT
Adjusts full-year bunker price forecast upwards.

K Line cites higher bunker costs as key reason for $173m loss
31 Jul 2018 13:17 GMT
Average bunker price paid jumped 27 percent in Q1.

Iino Lines posts profit growth; average bunker price jumps 21.7% YoY
31 Jul 2018 11:38 GMT
Q2 price prediction revised upwards by $50 compared to April forecast.

ONE records $120m loss as average fuel price is $24 higher than expected
31 Jul 2018 09:12 GMT
Boxship firm now predicting a $61 QoQ leap in marine fuel prices for the next three-month period.

MOL posts Q1 loss as average bunker price rises 37%
31 Jul 2018 08:31 GMT
Japanese shipper predicts $12 rise in Q2 marine fuel price.

Brightoil in talks to sell Zhoushan terminal and 15 vessels
30 Jul 2018 16:06 GMT
Says planned sales would bolster the firm's financial strength and support its long-term development.

EMEA overtakes Asia-Pacific to become World Fuel Services' top bunker sales region
30 Jul 2018 15:00 GMT
Most sizeable growth in EMEA and North America during a period that has seen key changes to regional sales figures compared to Q1 and last year.

Balearia to spend EUR 60m on five ferry conversions to LNG
30 Jul 2018 10:21 GMT
Plans to have nine ships running on LNG by 2021 - and 'studying two other LNG projects'.

Marine is 'perfect example' of firm's strategy to sharpen portfolio and slash costs: Kasbar
27 Jul 2018 11:24 GMT
Strategy has been to exit low-value activities, reduce exposure to volatility and drive down costs, CEO explains.

WFS marine profit dips, revenue rises despite lower bunker sales volume
27 Jul 2018 00:07 GMT
Overall company net income falls in Q2 and H1, whilst gross profit and revenue both climb.

Warning becomes reality: Frontline to fund scrubber costs with equity offering
26 Jul 2018 08:15 GMT
Follows annual report warning that 2020 sulphur cap 'may cause us to incur additional costs'.

Brightoil explains how new exchange rules could affect its listing status
13 Jul 2018 12:32 GMT
New Aug 1 rule changes will make it easier for SEHK to expel companies.

Aegean shares more than triple following Mercuria MoU
06 Jul 2018 08:25 GMT
Market reacts positively to refinancing and strategic partnership agreement.

Mercuria in MoU with Aegean to provide $1bn refinancing and secure 30% stake
05 Jul 2018 12:45 GMT
MoU also covers broader partnership, including operational services, trading, hedging and other support.

Stolt Tankers sees profit drop by a third on higher bunker prices
05 Jul 2018 10:05 GMT
Bunker costs rose by 21.4% between December and May.

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