Leif Hoegh Records Strong First Quarter
Operating profit before sales gain and depreciation for Leif Hoegh & Co.
Limited (LHC) for the first quarter showed a significant improvement compared to first quarter of last year. HUAL experienced a strong first quarter. The car carrier market continues to be very tight, with all operators experiencing space pressure. The strong cargo availability out of the Far East continued. In February another large PCTC newbuilding on long term charter was delivered.
During the first quarter HUAL entered into long term charters for further two PCTC newbuildings to be delivered in 2007. HUAL was in April awarded as "General Motors Supplier of the Year 2003" for its overall business performance in providing GM with ocean services.
The LNG vessels and the two wholly owned Capesize vessels operated under their long term charter contracts without any disruptions.
LHC had 9 open hatch vessels in the Saga Pool at the end of the quarter after delivery of one vessel to new owner in January.
HUAL, the Ro/Ro car carrying unit of Leif Hoegh & Co, is one of the world's leading operators of car carriers with a fleet of 45 Ro/Ro vessels in its commercial operation. HUAL has seven large Ro/Ro newbuildings on order for delivery 2004 to 2007 and further 4 large Ro/Ro newbuildings will be taken on long term charter (in addition to three already delivered).
Other stories from May 2004 issue
- Fincantieri Delivers Westerdam page: 10
- "World's Largest" Heavy Lift Ship Enters Service page: 10
- Damen Delivers Pair of Tugs page: 10
- Not Just Another Dam Ship page: 12
- Welsh Towing Company Growth Continues page: 14
- Gladding-Hearn Starts Construction of New I neat Vessel page: 15
- Despite 11% Increase, Hempel Disappoints page: 15
- Grimaldi-Naples Receives GM Award page: 16
- Schlueter Promoted to VP page: 17
- Misplacing the Place of Refuge page: 20
- Schottel Broadens Electric Propulsion Options page: 26
- CIMAC Congress Set for Kyoto page: 29
- Waterjets for a Difficult Design Task page: 30
- New Shaft Seal from Ocean Venture Seals page: 31
- Gas Turbines: Keeping Fresh With Innovation page: 32
- MAN B&W Diesel Debuts the New S65ME-C page: 33
- Thordon COMPAC Finds Success in FSV page: 33
- Wartsila to Power Australian FPSO page: 34
- VSP: Same Power, 9% More Bollard Pull page: 35
- The New MTU 2000 CR Marine Engines page: 36
- Converting and Repowering One Very Big Ship page: 38
- Power for a New Breed of RoPax page: 40
- ZF Helps to Harness Spirit of Ontario's Power page: 41
- Greece Poised for Posidonia 2004 page: 42
- Leif Hoegh Records Strong First Quarter page: 43
- BV Launches LNG CAP page: 43
- Steel, Ship Prices Soar as Tankers Stay Firm page: 44
- Ice Class & Large Ships Pose New Challenges page: 44
- Royal Caribbean Stays Current with C-MAP CM-93/3 ECs page: 46
- JRC Proposes Integrated Nautical Safety System page: 46
- C-Map's RTU and the Ending of the Paper Trail page: 47
- AutoChief C20 Reports Good Market Penetration page: 48
- Vision FT IBS page: 48
- Research Winches for R/V Maria S. Merian page: 52
- Konecranes Giving Port Efficiency a Lift page: 52
- Chinese Yard Logs Strong Month page: 55
- Fuel Oil Separation Takes Center Stage page: 56
- Security of Ports and Vessels: A New Approach page: 60