Wed 16 Aug 2017 12:55

Containerships targets improved profitability via bunker-saving initiatives


Earnings 'particularly affected' by higher marine fuel costs.



Finland's Containerhips plc says it is aiming to generate increased future profit via the implementation of bunker-saving initiatives.

Speaking in Monday's financial report for the second half of 2017, Kari-Pekka Laaksonen noted that the company's improved earnings before interest and tax (EBIT) had been "particularly affected" by the year-on-year (YoY) increase in marine fuel costs.

The company pointed out that the rise in the price of crude and bunker prices had added a "significant increase" of EUR 5.8 million to H1 operating costs.

In particular, Containerships highlighted the fact that higher bunker prices had contributed towards lower profitability in the Mediterranean market.

Despite the rise in fuel expenses, Containerships did manage to post a slight improvement in Q2 EBIT with a EUR 0.3 million, or 21.4 percent YoY rise to EUR 1.7 million. However, the Finnish firm also recorded a Q2 net loss of EUR 0.5 million, which was marginally better than last year's EUR 0.6 million Q2 net loss.

For H1, Containerships achieved a EUR 0.5 million, or 18.5 percent [stated as 19.7 percent in the report], YoY rise in EBIT to EUR 3.2 million. Net profit for the period was EUR 0.1 million compared to the EUR 1.7 million loss recorded in 2016.

"We aim to further improve business profitability through vessel optimisation, route planning and other savings programmes designed to reduce costs," Laaksonen noted.

Containerships also pointed out that it has begun the construction of four LNG-powered ships which are due to be delivered to the company in 2018. As previously reported, the keel-laying ceremony for the first LNG-fuelled ship and the steel-cutting ceremony for the second ship took place in April in Guangzhou, China.

"The company continues to progress on its chosen investment path based on its environmentally friendly LNG strategy," Containerships said.

In April, Bunker Index reported that Containerhips had been granted funding of EUR 16.9 million from the European Union to implement its strategy of using LNG throughout its logistics chain.

EUR 10.7 million is earmarked for shipping, while EUR 6.2 million will be used to build a European LNG terminal network in cooperation with other project partners.


Carsten Ladekjær, CEO of Glander International Bunkering. Glander International Bunkering reports stable performance amid regulatory changes  

Bunker trader achieves $3bn turnover and $22m pre-tax earnings for fiscal 2024-25.

Map of the Mediterranean Sea ULSFO demand surges in Med as ECA compliance drives fuel shift  

KPI OceanConnect reports accelerating ULSFO uptake across the region.

The Monjasa Zale performing a bunker delivery. Monjasa reports Singapore as top bunker supply port with over 1 MMT delivered  

Supplier says world's largest bunkering hub became its biggest supply location in 2024.

Steel cutting ceremony for the 7,999 DWT chemical bunker tanker Lucia Cosulich at Taizhou Maple Leaf Shipbuilding Co., Ltd. in China. Fratelli Cosulich begins construction of second methanol-ready bunker tanker  

Italian firm starts steel cutting for 7,999 DWT chemical bunker vessel.

Petrobras logo. Petrobras introduces volume-based price discounts at Santos  

Brazilian oil company offers progressive discounts for bunker deliveries exceeding 1,500 tonnes.

Lease agreement between Inter Terminals Sweden and the Port of Gothenburg, signed on July 1st. Pictured: Göran Eriksson, CEO of the Port of Gothenburg (left) and Johan Zettergren, Managing Director of Inter Terminals Sweden (right). New Gothenburg lease an opportunity to expand green portfolio: Inter Terminals  

Bunker terminal operator eyes tank conversion and construction projects for renewable products.

Map of US Gulf. Peninsula extends US Gulf operation offshore  

Supplier to focus on Galveston Offshore Lightering Area (GOLA) in strategy to serve growing client base.

The M/T Jutlandia Swan, operated by Uni-Tankers. Uni-Tankers vessel gets wind-assisted propulsion  

Fourth tanker sails with VentoFoil units as manufacturer says suction wing technology is gaining traction.

Port of Gothenburg Energy Port. Swedish biomethane bunkered in Gothenburg  

Test delivery performed by St1 and St1 Biokraft, who aim to become large-scale suppliers.

Image from Cockett Marine Oil presentation. Cockett to be closed down after 45 years  

End of an era as shareholders make decision based on 'non-core nature' of Cockett's business.


↑  Back to Top


 Recommended