Wilhelmsen: Q1 2019 Shows $29m profit
The Wilhelmsen group recorded a $29 million net profit after non-controlling interests for the first quarter of 2019. Increased share of profits from associates and net financial gains more than offset a reduction in adjusted EBITDA when compared with the previous quarter.Total income for the Wilhelmsen group was $199 million in the quarter, while EBITDA came in at $34 million. This included a $7 million sales gain. Adjusting for new IFRS 16 accounting standard for leases, EBITDA was $25 million.Share of profits from associates was $15 million in the first quarter…
Wilhelmsen Group Income for 2Q up by 5%
The Wilhelmsen group delivers a slight increase in top line in the second quarter, mainly supported by higher operating revenue in supply services. The positive underlying market trends are expected to continue. The total income for the second quarter was USD 222 million, up 5% from the first three months of 2018.“We note that the positive development in top line in the first quarter continues into the second. Maritime services deliver stable revenue, while supply services record improved income following a seasonal upswing and property sales gains in NorSea Group…
Kongsberg Digital Acquires a Share of NSG Digital
Kongsberg Digital and NSG Digital have collaborated since the beginning of 2017 on developing a new logistics system called NSG E2E. Kongsberg Digital is purchasing a 34 percent ownership share in NSG Digital, a subsidiary of the supply base and logistics company NorSea Group. NorSea Group, controlled by Wilhelmsen, is joining forces with Kongsberg Digital to digitalize the supply chain in the oil and gas and offshore wind industries. Kongsberg Digital and NSG Digital have collaborated since the beginning of 2017 on developing a new logistics system called NSG E2E.
NorSea Opens New MGO Facility in Peterhead
NorSea Group UK (Ltd) has completed Phase I of its multi-million dollar investment at its Shore Base within Peterhead Port with the opening of a new custom-built Marine Gas Oil (MGO) facility on Smith Quay. Two MGO tanks, which hold a combined total of 3000 cu. m. of fuel, are now operational. This represents an expansion in the range of services currently provided directly to clients by NorSea Group at Peterhead as project support and supply vessels can now be fuelled directly at the quay.
Offshore Wind Delivers Success for Montrose Port
Montrose Port Authority said it has supported its first project within the offshore renewable sector, heralding a new era of capabilities for the energy industry support and service hub. In association with NorSea Group (UK) Ltd, a subsidiary of Norwegian logistics company NorSea Group AS, the port is participating in the Hywind Scotland offshore wind project. The four-week campaign consisted of five port calls for anchor handling tug supply vessel, the Normand Prosper. After loading chain and mooring equipment to the vessel…
NorSea, Kongsberg Establish Digital Collaboration
A new company set up by NorSea Group to simplify logistics through digital technology, NSG Digital, has established a collaborative agreement with the Kongsberg Group. The two are now moving the development and deployment of their new product, NSG E2E, to Kongsberg’s application platform Kognifai. With its new product, NSG Digital aims to simplify and enhance visibility and information sharing in supply chains. Through digital collaboration NSG E2E (End-to-End) will make cargo logistics more efficient and transparent.
Nyheim, Wang Join Wilhelmsen as Vice Presidents
As part of reshaping the executive team, the Wilhelmsen group adds two senior vice presidents to its group management team. Mr Erik Nyheim will be responsible for Wilhelmsen’s investments in ships service (marine products and agency), safety products and solutions (Survitec), governmental services and Qube, while Mr Jan Eyvin Wang will be responsible for following up ship management, insurance services, Treasure ASA and NorSea Group. “I am pleased to see Erik and Jan Eyvin joining our team,” says Thomas Wilhelmsen, group CEO at Wilhelmsen.
UK Chancellor Visits NorSea Group HQ
U.K. Chancellor of the Exchequer George Osborne toured NorSea Group’s U.K. headquarters during a visit to Aberdeen this week. During the tour, Walter Robertson, MD of NorSea Group, gave the Minister an update on the work the company is carrying out in support of the subsea, construction and decommissioning sectors. NorSea Group provides a vendor consolidation service at its Altens HQ prior to transporting equipment to the company’s deepwater quayside facilities at Peterhead and Montrose. The primary role is to ensure the safe and efficient transfer of goods and equipment to and from vessels.
NorSea Group Adds UK Finance Director
NorSea Group (UK) Ltd has appointed Karen Russell as its first UK Finance Director. Russell becomes the third addition to the group’s executive team as the company continues to grow its activity across Scotland in both the decommissioning and subsea support sectors. She joins MD Walter Robertson and Operations Director Mike Munro in the new team leading the company’s expansion in the UK. Russell has more than 13 years’ experience in the oil and gas industry. She began her accountancy training with Deloitte and Touche…
NorSea Group Appoints Executive Team
NorSea Group (UK) Limited has established a new executive team to lead the company’s growing activity across Scotland. Walter Robertson has been appointed Managing Director while Mike Munro becomes the company’s first Operations Director. Robertson has 30 years’ experience in the logistics sector and was appointed MD following an extensive period of consultancy with the company. Prior to that, he had a 28 year career with the ASCO Group at Managing Director level. From 1998 to 2006…
Statoil Awards Contracts in Norway
Statoil has today, 7 January, awarded the service contracts for seven bases for the company in Norway. These contracts have been awarded to NorSea Group AS, Saga Fjordbase AS and Asco Norge AS. The contracts awarded include terminal and warehouse services as well as storage and pipeline handling. “These contracts, which will involve a long-term cooperation with the chosen suppliers, will result in great savings for Statoil’s logistical operations. Logistics represent some 10%…
NorSea Group Makes Long-term UK Commitment
NorSea Group (U.K.) Limited is making a major, long-term commitment to the U.K. with the announcement that it will take over operatorship of Smith Quay and Embankment at Peterhead on a 10-year agreement as of September 1. NorSea Group also has a 15-year lease at South Quay in Montrose and a long term agreement with Scrabster Harbour Trust. John Wallace, CEO at Peterhead Port Authority is delighted to welcome NorSea Group to the Port given their profile within the industry, personnel and resources.
NorSea Group Adds U.K. GM
NorSea Group, a supplier of base services and integrated logistics systems to the oil and gas industry in Norway, appointed Kim Christensen as its first U.K. General Manager to lead the group’s future developments in Scotland. Mr. Christensen will head up NorSea Group (U.K.) Ltd, a new company within the Group, which has been established to reinforce the Group’s commitment to enhance its business activity in the U.K. To support this, NorSea Group will open its first U.K. office in Aberdeen.
WWH's Q1 2013 Profits Dip
Wilh. Wilhelmsen Holding ASA (WWH) operating profit and total income declined quarter on quarter and year over year. The company attributes the decline in profits mainly as a consequence of continued drop in shipping volumes and a less favourable cargo mix, and in the second quarter, the group’s activity level is expected to be in line with the first quarter. Operating profit for the first quarter was USD 78 million (USD 106 million), down 27% compared with the same period last year and a decrease of 19% from the previous quarter.
NorSea Invests in First Scotland Supply Base
NorSea Group and the Scrabster Harbour Trust in Caithness have agreed on construction of the new supply base for the oil & gas sector. Under the agreement NorSea Group will work with the Trust to bring in new business and develop Scotland’s most northerly mainland port as a one-stop supply base servicing the oil and gas industry. "We are very excited about co-operating with Scrabster Harbour Trust to develop business for the strategically important port of Scrabster. The vision and commitment of the Trust have been fundamental in our decision to establish NorSea Group there.