DP World’s Earnings Exceed USD 1 Bn Despite Challenging Markets

Despite “significant challenges” in the industry, Dubai-based port and terminal operator DP World has posted for the first time a full-year net income of over USD 1 billion.

Containerships Shrinks 2016 Net Loss

Finland’s container shipping firm Containerships has managed to cut its net loss during 2016 as it ended the year with with EUR 1.4 million in the red, compared to a net loss of EUR 6.7 million reported in 2015.

Clarksons Reports Profit Dip

Amid challenging shipping markets, London-based provider of integrated shipping services Clarkson PLC (Clarksons) recorded a profit before taxation of GBP 44.8 million (USD 57.4 million) in 2016, lower from a profit of GBP 50.5 million (USD 61.3 million)

2016 a Strong Year for Aegean Marine

Greek marine fuel supplier Aegean Marine Petroleum Network has seen its net income surge to USD 16 million in the fourth quarter of 2016, up from USD 9.7 recorded in the same three-month period in 2015.

Norden Aims to Return to Profit in 2017

As 2016 was a particularly difficult year for the shipping industry, Danish shipping company Dampskibsselskabet Norden A/S said that its adjusted results for the year amounted to a loss of USD 35 million.

BW LPG Posts Major Drop in 2016 Profit

Due to the difficult situation in the liquefied petroleum gas (LPG) market, Singapore’s gas carrier owner BW LPG saw a drop in its full-year profit after tax (NPAT), which went down to USD 23.6 million in 2016 from NPAT of USD 326.138 million posted in 20

COSCO Corporation’s Full-Year Loss Widens

COSCO Corporation (Singapore) Limited, a shipbuilding, marine engineering and dry bulk shipping group, saw a net loss of SGD 976.1 million (USD 695.5 million) in 2016, against a net loss of SGD 914.8 million (USD 651.8 million) recorded in 2015, mainly du