World News
Rolls Royce Marine Orders Rise 44%
Rolls-Royce said its Marine sector order book grew 44 percent in 2012, driven by a major order from the UK Ministry of Defence, along with growth in oil and gas sector demand.
The Marine segment won new orders worth £3.3billion ($5.1 billion) in 2012, up from £2.1billion ($3.3 billion) in 2011, while underlying revenue fell 1 percent to £2.2 billion ($3.4 billion) and underlying profit rose 2 percent to £294 million ($456 million).
New orders for the company included £1.1 billion ($1.7 billion) in reactor cores for the UK's future fleet of nuclear-powered submarines, as well as £147 million ($228 million) for oil and gas vessels in Brazil - a deal it had previously announced in December 2012.
Rolls-Royce also noted £119 million ($184.6 million) of contracts to design and equip 10 OSVs for Norway’s Farstad Shipping, China’s COSCO, and Korea’s Hyundai.
The company reported "continued weak order flow" from the merchant sector.
Overall, Rolls-Royce reported an 8 percent increase in revenue, to £12.2 billion ($18.9 billion), and a 24 percent increase in underlying profits before taxes, to £1.4 billion ($2.2 billion).
For 2013, it said it expects modest growth in both revenues and profits for its Marine business, as well as modest revenue growth and a good improvement in profits for the company overall.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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