Maritime News
  • Home
  • Breaking
  • Maritime News
  • Ports
No Result
View All Result
Maritime First
  • Home
  • Breaking
  • Maritime News
  • Ports
No Result
View All Result
Maritime First
No Result
View All Result
Home Maritime News

Clarkson sees ‘recovery’ in global shipping market

by Maritime1.com
14.03.2018
in Maritime News
0 0
Share on FacebookShareShare on Twitter
- Advertisement -

- Advertisement -

Shipbroker Clarkson has called the start of a “recovery” across its long-depressed market for hiring out ships to transport commodities across the world, as it also reported a healthy set of annual results.

Revenues at Clarkson rose 6 per cent to £324m in 2017. Its pre-tax profits dipped 5 per cent to £45m, although this reflected its one-off sale in 2016 of a stake in maritime trading house Baltic Exchange. Excluding this, as well as a writedown related to Clarkson’s 2014 purchase of Norwegian competitor Platou, underlying pre-tax profits increased 12 per cent to £50.2m.

The shipping market, which entered the doldrums in 2011-2012 as China’s infrastructure-led GDP growth slowed and the appetite for commodities reduced, was now showing “early indicators of recovery” Clarkson’s chairman James Hughes-Hallett said.

The Baltic Dry index — which measures the price of hiring ships that transport goods such as metal ores, steel, grains and cement — rose 42 per cent in 2017.

Mr Hughes-Hallett said he remained “cautious about the near term direction of the industry”.

One issue for Clarkson, which makes the majority of its profits from fees for broking shipping contracts, is clients’ and ship owners’ preference for hiring vessels on a “spot” basis. This means they are booking ships for one-off deliveries. Shipbrokers have more visibility on future earnings if clients are instead booking “time charter” deals for a whole tanker for several years, which they tend to do when there is a shortage of vessels.

Clarkson’s forward order book for such long-term bookings is running at $93m for 2018, the broker said on Monday, down from $112m last year.

“We start 2018, as we did 2017, with lower forward visibility of earnings from a lower forward order book,” chief executive Andi Case said.

He added that the rates clients were paying for “spot” orders “have been improving”, however, which “during 2017 more than offset the lower forward order book brought forward.”

Clarksons also announced a dividend of 73p per share, up from 65p last year.

Related Posts

MOL, MOL Drybulk, J-ENG Sign Agreement for Trial of Hydrogen-fueled Engine equipped Onboard

by Maritime1.com
09.11.2021
0

TOKYO—Mitsui O.S.K. Lines, Ltd. (MOL), MOL Drybulk, Ltd., and Japan Engine Corporation (J-ENG) today announced the signing of a...

Mitsubishi Shipbuilding and NYK Line Agree to Jointly Develop a Large LCO2 Carrier

Mitsubishi Shipbuilding and NYK Line Agree to Jointly Develop a Large LCO2 Carrier

by Maritime1.com
09.11.2021
0

Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, and Nippon Yusen Kabushiki Kaisha (NYK Line) have agreed...

Shipping the Critical Enabler in Global Transition, ABS Chairman, President and CEO Tells COP26

Shipping the Critical Enabler in Global Transition, ABS Chairman, President and CEO Tells COP26

by Maritime1.com
08.11.2021
0

Shipping is the critical enabler in the world’s transition to low carbon operations and needs Government support to ensure...

Rolls-Royce to supply MTU engines for 80-ton bollard pull tugboats in Brazil

Rolls-Royce to supply MTU engines for 80-ton bollard pull tugboats in Brazil

by Maritime1.com
08.11.2021
0

Rolls-Royce has secured a significant contract to supply eight of its mtu 16V 4000 M65L engines for four 80-ton bollard pull...

Scandlines orders zero emission ferry for the Puttgarden-Rødby route

Scandlines orders zero emission ferry for the Puttgarden-Rødby route

by Maritime1.com
08.11.2021
0

Scandlines has entered into a contract with Cemre Shipyard, Turkey, to build an emissionfree freight ferry for the Puttgarden-Rødby...

MOL and COSCO co-sponsor 3rd Shanghai International LNG Shipping forum

MOL and COSCO co-sponsor 3rd Shanghai International LNG Shipping forum

by Maritime1.com
08.11.2021
0

TOKYO—Mitsui O.S.K. Lines, Ltd. today announced that on November 6, it jointly hosted the Shanghai International LNG Shipping Forum...

NYK receives delivery of new VLCC Tateshina

NYK receives delivery of new VLCC Tateshina

by Maritime1.com
08.11.2021
0

The very large crude oil carrier (VLCC) Tateshina, owned by NYK, was delivered today. The vessel was built at...

Suez Canal Authority issued new resolutions concerning the fees of the transiting ships

Suez Canal Authority issued new resolutions concerning the fees of the transiting ships

by Maritime1.com
07.11.2021
0

Suez Canal Authority issued new resolutions concerning the fees of the transiting ships through the canal to be applied...

Navibulgar ordered a new series of four 45 500t bulk carriers

Navibulgar ordered a new series of four 45 500t bulk carriers

by Maritime1.com
07.11.2021
0

Navigation Maritime Bulgare ordered the building of four more 45 500t bulk carriers in the Chinese Shipyard Jiangsu New...

Maritime must be safe for women

Maritime must be safe for women

by Maritime1.com
07.11.2021
0

A brave female cadet recently published the horrific experiences of sexual assault she endured on board a vessel while...

Load More
Next Post

German Government supports Maritime Centre with 1.2 million Euros

Maritime First

© 2021 Maritime Firtst - by Maritime.bg.

Navigate

  • About
  • Contact Us
  • Home 1
  • Privacy

Follow Us

No Result
View All Result
  • Buy JNews
  • Homepage
    • Home – Layout 1

© 2021 Maritime Firtst - by Maritime.bg.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist