World News
WWH Profits, Volumes Shipped Fall
Shipping and logistics group Wilh. Wilhelmsen Holding ASA (WWH) reports its second-quarter profits fell 23 percent year-on-year to $106 million, while total income dropped 7 percent to $903 million, although shipping volumes began a recovery during the quarter.
The company reported that the rise in shipping volumes ended a downward trend that began in mid-2012.
WWH's services division increased its income 4 percent to $248 million year-over-year.
The company said it continued using speed adjustments, chartering in and out vessels, redelivery, newbuildings, and scrapping to adjust its capacity to cargo availability.
CEO Thomas Wilhelmsen said in a statement that the company expects volumes to stay steady in the second half of the year.
"We will therefore continue to actively optimise and adjust tonnage to market demand," he said.
"A generally weak shipping market impacts owners' purchasing capabilities and put pressure on demand and operating margin, especially in the maritime services segment.
"The gradual increase in newbuild ordering activity and the global merchant fleet is, however, expected to continue to drive demand for maritime services."
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 |
Popular Now More
-
Apr 23Initial Ship & Bunker analysis shows ships would need to use between 17.6% and 23.3% biofuel in B100 terms to avoid penalty charges in 2028. -
Apr 24Suppliers in South Korea are already shifting to the use of MFMs, and barge fees are likely to rise in the country as a result, a local source tells Ship & Bunker. -
Apr 24FincoEnergies has partially acquired the business operations of bunker supplier Oliehandel Klaas de Boer.