AP Moller-Maersk Group is expecting to take a $200-300m hit for its full year earnings in 2017 due mainly to lost revenue in July as a result of a crippling cyber-attack.
Maersk Line has delivered a first half profit of $273m, erasing the loss of $114m in the year-ago period, due in part to the continued recovery in the container shipping market.
Offshore services provider Marco Polo Marine has provided close to SGD300m ($220m) in impairments and allowances during its third quarter of financial year 2017 on the back of a protracted downturn in the oil and gas sector.
Embattled Nam Cheong has made asset impairments and writedowns of MYR1.88bn ($444m) during the second quarter, sending the OSV builder into a first half loss of MYR2.07bn.
Taiwan’s container carrier Evergreen Marine has continued its profitable run this year with a first half gain of TWD3.07bn ($103.46m), extending from the slim first quarter profit of TWD168.91m with a strong second quarter profit of TWD2.9bn.
Singapore’s OSV player Vallianz is continuing to ride on offshore activities coming from the Middle East market as the company looks to deploy more vessels into the region this year amid a globally challenging offshore market.
Singapore-listed Ezion Holdings has suspended the trading of its shares as it revealed that the company is in talks with various stakeholders for a financial restructuring.
The outlook for the offshore marine sector will continue to be tough for the remainder of 2017 as oil prices have not firmed in tandem with crude oil production cuts, according to Malaysia Marine and Heavy Engineering (MMHE), which saw its losses widened in the first half.
South Korea’s Hyundai Heavy Industries (HHI) has reported a big jump in profit for the first half ended 30 June 2017, aided by a restructuring process involving the spinning off of the shipbuilder’s non-core business units.