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Havyard Group reports satisfying 2009 result
10-05-2010 13:03
Havyard Group reports satisfying 2009 result
M/V "Havila Venus" - Photo: Havyard
NORWAY: The shipyards within Havyard Group delivered 8 vessels during 2009 whereof 6 were of Havyard design. In addition the group delivered design and equipment to 2 other vessels of Havyard design that was delivered from other shipyards in Norway.

Noreco reports improved Q1 result
04-05-2010 11:39
NORWAY: Norwegian Energy Company ASA has presented its first quarter 2010 results, with EBITDA of NOK 170 million, 26% higher than in Q4, and a net result of NOK -21 million, compared to NOK -87 million in the previous quarter.
The Maersk Group sells south China port stake
30-04-2010 14:51
DENMARK/CHINA: Cosco Pacific Ltd., Asia’s third- biggest container-terminal operator, agreed to pay A.P. Moeller- Maersk A/S USD 520 million to acquire the Danish company’s stake in an investor in terminals at China’s Yantian port.
EOC SUBSIDIARY COMPLETES SUBSCRIPTION EXERCISE TO CHIM SAO FPSO JOINT VENTURE COMPANY
27-04-2010 21:30
SINGAPORE: Th Oslo-listed offshore company EOC did in February announce plans to invest in a Vietnamese FPSO venture, and today the company announces iit takes a 43% stake in the Chim Soa FPSO joint venture.
EOC's FPSO, LEWEK ARUNOTHAI, CONTINUES TO STEER 1H FY10 EARNINGS
20-04-2010 16:48
SINGAPORE/NORWAY: EOC Limited, an Asian-based provider of offshore oil and gas support services, has delivered healthy results for its first half year ended 28 February 2010 with strong contributions from its first Floating Production, Storage, and Offloading (FPSO) vessel, the "Lewek Arunothai".
Tallinn Passenger Port to open a yachting harbour
15-04-2010 17:46
ESTONIA: Port of Tallinn that owns the Tallinn Passenger Port will open a yachting port for 64 yachts in Admiralty Basin in central Tallinn on May 21.
Rolls-Royce takes control over Odim
04-04-2010 04:13
NORWAY: Rolls-Royce, the global power systems company, has announced that its wholly owned subsidiary Rolls-Royce Marine AS now holds rights to more than 90 per cent of the shares in ODIM ASA, ollowing a cash offer of all outstanding shares.
Artumas to double its equity through merger
25-03-2010 12:09
NORWAY: Artumas Group, Inc. confirmed today that it has entered exclusive and confidential negotiations with Wentworth Resources Limited and it is expecting that a business combination of the two companies will conclude no later than June 1, 2010.
High-risk explorer Cairn Energy reports 2009 result
23-03-2010 12:47
SCOTLAND: The company is well funded with financial flexibility for operations. The Indian Rajasthan development is on track to ramp up production to 125,000 bopd in H2 2010 and a further potential of 240,000 bopd. The Greenland four well frontier exploration programme to commence 2010.
Konecranes and Kito Corporation enter into strategic
23-03-2010 12:16
FINLAND/JAPAN: Konecranes and the Japanese hoist, crane and material handling equipment company Kito Corporation (“Kito”) have entered into a strategic alliance. The alliance agreement was signed by representatives of the two companies today on March 23, 2010.
NORECO and Norsk Tillitsmann in arbitration
22-03-2010 13:20
NORWAY: Norwegian Energy Company ASA (Noreco, OSE:NOR) and Norsk Tillitsmann have agreed to let an arbitration panel resolve a disagreement regarding the conversion price in Noreco's convertible bond.

Eitzen Maritime Services gets temporary waiver
22-03-2010 13:16
NORWAY: Eitzen Maritime Services ASA ("EMS") have received a temporary waiver of financial covenants related to its NOK 400 million Bond loans.
Maersk's first Sustainability Report
18-03-2010 14:10
DENMARK: The A.P. Moller - Maersk Group reduced its emissions of CO2 and other greenhouse gasses by 6.9 percent in 2009 compared with the year before, according to the Group’s first Sustainability Report.
Wärtsilä selected best supplier by CNOOC of China
18-03-2010 04:42
FINLAND/CHINA: Wärtsilä, the marine industry's leading ship power system integrator, has received an award for supplier excellence from CNOOC, the China National Offshore Oil Corporation.
Fred Kamperman joins the Sjursøya Container Terminal
19-02-2010 13:03
NORWAY/BELGIUM: Fred Kamperman has joined the Belgian Delphis Group as General Manager of the Sjursøya Container Terminal in Oslo.
Sharp recovery for NORECO in the 4th quarter
18-02-2010 13:45
NORWAY: Norwegian Energy Company ASA has presented its fourth quarter 2009 results, with revenues of NOK 322 million and a net result of NOK -87 million.
Eitzen Chemical has reached the bottom
18-02-2010 13:38
NORWAY: The inancially restructure Eitzen Chemical has released its 4th quarter and full year 2009 results, indicating that the chemical market has reached the bottom, even the company reports a slide in the 2009 EBITA of USD 92 mln to USD 35,8 mln.
Aker Seafoods reports higher volumes but lower prices
18-02-2010 13:13
NORWAY: The Kjell Inge Røkke controlled integrated white fish company Aker Seafoods did well on harvesting in the fourth quarter. Catches for Aker Seafoods' trawlers were significantly higher than in the same period of 2008.
AKVA group hit hard in 2009 with a 31% revenue slide
18-02-2010 13:08
NORWAY: AKVA group, the Oslo-listed technology supplier to the international fish farming industry, was hit by several items related to projects and accounting adjustments in Q4, and revenue was affected by restrictive investment policies in the salmon industry in general during 2009.
Prosafe reports solid financial results for 2009
18-02-2010 12:51
NORWAY: A strong operational performance and a rig utilisation rate of 86 per cent contributed to an operating profit of USD 218.6 mln for the year 2009 for the Oslo-listed Prosafe, the world's leading owner and operator of semi-submersible service rigs.
Aker Solutions improving its margins
17-02-2010 12:56
NORWAY: The Kjell Inge Røkke controlled Aker Solutions has released it Q4 and preliminary 2009 result. The company reports a strong cash flow from operating activities of NOK 2.4 bn for the quarter and NOK 4.2 bn for the year.
Eitzen Maritime Services hit by the shipping crisis
17-02-2010 12:40
NORWAY: Eitzen Maritime Services ASA has reported its fourth quarter and full year 2009 results. The fourth quarter results reflect the current shipping crisis and are also hit by a write-down of goodwill in the group's ship management division.
Songa Offshore reports Q4 profit of USD 55 mln
15-02-2010 13:09
NORWAY: Songa Offshore SE reports Q4 2009 revenues of USD 186.8 mln. This includes mobilization and demobilization revenue of USD 2.7 mln. The total comprehensive income for the fourth quarter 2009 was USD 54.7 mln.
Record results for Bergen Group in 2009
12-02-2010 14:56
NORWAY: Oslo-listed shipyard Bergen Group achieved NOK 5.1 bln in operating revenues in 2009 and posted a record high operating profit before depreciation (EBITDA) of NOK 416 mln.
Oil exports via Primorsk port rise, 61.7% to the Netherlands
12-02-2010 03:47
RUSSIA/NETHERLANDS: The Primorsk Commercial Port Authority posted its petroleum products volumes shipped via the oil terminal in 2009.
Wilh. Wilhelmsen on the road to recovery
11-02-2010 18:34
NORWAY: The Wilh. Wilhelmsen group posted an operating profit of USD 240.8 million for 2009, compared with USD 351.6 million in 2008. Total income amounted to USD 2 572.6 (USD 3 434.2 million).
Statoil continued deliveries in turbulent markets
11-02-2010 18:26
NORWAY: Statoil today presents its fourth quarter results and its Strategy Update. Statoil's fourth quarter 2009 net operating income was NOK 33.5 billion, compared to NOK 37.8 billion in the fourth quarter of 2008.
Solvang's bottom line from red to black
11-02-2010 18:11
NORWAY: The result for 2009 is an after tax profit of NOK 133.5 mill against a loss of NOK 151.6 mill in 2008. Out of this, profit on the investment portfolio was NOK 42.1 mill against a loss of NOK 123.4 mill last year.
Prima Shipping and Meriaura acquire Tolkkinen harbour
10-02-2010 15:19
FINLAND: The Finnish shipping and logistics companies Prima Shipping Group and Meriaura Group have signed a letter of intent with Stora Enso about taking over the port at the closed down sawmill of Tolkkinen in Porvoo (Borgå).
Odfjell's result slides USD 48 mln in Q4
10-02-2010 13:37
NORWAY: Odfjell’s Q4 2009 net pre-tax result was USD 14 mln, compared to USD 62 mln in Q4 2008. The 2009 figure includes compensation of USD 43 mln and a pre-tax impairment cost of USD 14 mln, while the 2008 result included capital gains of USD 43 mln.
STX Europe in the right direction but still loss making
10-02-2010 13:17
NORWAY: Former Aker Yards, STX Europe reports a well performing Offshore ship building activity, while a restructuring in Cruise & Ferries building division is taking place. In Q4 2009 STX Europe reported an EBITDA of NOK -44 mln compared with NOK -728 mln in Q4 2008.
A good year-end for Marine Harvest
10-02-2010 12:53
NORWAY: Marine Harvest ASA achieved an operational EBIT of NOK 569 mln in the fourth quarter 2009, compared to NOK 317 mln in the corresponding quarter in 2008. Earnings per share improved from NOK -0.18 to NOK 0.15.
Sevan Marine reports Q4 result
10-02-2010 12:14
NORWAY: Operating revenue for the quarter amounted to USD 53.8 mln (USD 44.2 mln). EBITDA was USD -10.1 mln (USD – 61.6 mln) of which USD 10.3 mln was a one-off accrual of decommissioning cost relating to FPSO "Sevan Voyageur".
Cargo turnover in Murmansk up but down in Archangelsk
09-02-2010 15:05
RUSSIA: Russia has two main Barents Sea ports, and while the ports of Murmansk in 2009 boosted goods turnover with 29,7 percent, the cargo turnover in Port of Arkhangelsk dropped 23,7 percent.
Port of Gothenburg freight volumes falling
04-02-2010 13:07
SWEDEN: The Port of Gothenburg, the largest port in the Nordic region, experienced a fall in freight volumes during 2009 although a recovery was noted during the second half of the year.
2009 a good year for Wartsila but outlooks are mixed
03-02-2010 19:34
FINLAND: Wartsila has reported net sales growt 14% in 2009, to EUR 5,260 mln (4,612), and profitability at record level, 12.1% of net sales (11.4). Operating result before nonrecurring restructuring items grew to EUR 638 million (525).
Statoil opens for a new ownership structure for its energy and retail business
03-02-2010 12:44
NORWAY: Statoil's board of directors has unanimously decided to evaluate a new ownership structure for the group's energy and retail business. Stock-exchange listing is assumed to be the most likely solution and may take place in the fourth quarter of this year at the earliest.