Philly Shipyard Sees Higher Income

Image Courtesy: Philly Shipyard

2016 has brought better financial fortunes for US-based shipbuilder Philly Shipyard, whose profit rose to USD 38.7 million from USD 17.4 million seen in 2015. 

In 2016, the company’s operating revenues stood at USD 233.6 million, against USD 307 million in 2015.

Revenues and other income were primarily driven by the delivery of American Endurance, the first of four 50,000 dwt product tankers being built for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, and by the progress on the Philly-Crowley and Matson projects.

Philly Shipyard’s EBITDA for 2016 was USD 70.4 million, compared to EBITDA of USD 42.7 million in 2015.

As of 31 December 2016, Philly Shipyard had an order backlog of approximately USD 784 million, with three APT’s medium range 2 (MR2) tankers and two Matson’s Panamax containerships under construction.

The shipbuilder revealed its plans to focus on securing new contracts for large containerships in 2017.

“Although no firm orders are in place, Philly Shipyard has commenced preliminary design work to build Hulls 031 and 032 as container vessels,” the shipbuilder said.

In addition, Philly Shipyard intends to explore potential new construction projects in other areas of the Jones Act market, with a liquefied natural gas (LNG) propulsion being a consideration for potential owners.

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SNS2017 – The Southern North Sea Conference & Exhibition

EEEGR’s flagship Southern North Sea conference is the most important event for the energy sector in the East of England. Taking place over two days at the Norfolk Showground Arena in Norwich, SNS2017 will be the largest conference and exhibition EEEGR has ever delivered attracting upwards of 700 delegates from across the industry and supply chain.

Key industry players will gather at this event to discuss and debate issues, network to make new business contacts and re-establish relationships with existing clients.

Why should you attend?

  • Generate fresh leads and meet new contacts in a time and cost-efficient way.
  • Showcase your expertise and share your insights to impress your clients.
  • Meet senior-level delegates looking to learn and seek out new partners.
  • Account manage and liaise with your current clients attending – or bring them along yourself as an account management tool.
  • Months of intensive marketing and advertising to relevant markets ensuring a high level of attendance.
  • Numerous on the day and follow up advertising opportunities available to enhance your positioning.
  • Stay one step ahead of your competitors by being seen and visibly present at the event.
  • Develop your brand and status within industry by being billed as an event sponsor.

SNS2017 – 2 March

Day two of the conference is dedicated to ScottishPower Renewables Supply Chain Event for the East Anglia ONE Wind Farm Project.

ScottishPower Renewables is in the process of finalising its major contracts for the East Anglia One project, and is delighted to announce that these contractors will be attending the ScottishPower Renewables Supply Chain Event at the Norfolk Showground Arena on 2 March 2017.

Occupying the second day of EEEGR’s SNS2017 Conference and Exhibition, the ScottishPower Renewables Supply Chain Event will allow their contractors to engage with businesses and stakeholders in the East of England and further afield as quickly as possible to outline the skills they require and the business opportunities to be created by the project.

Information will be provided on the current status of the project by ScottishPower Renewables Managing Director, Jonathan Cole, and East Anglia One Project Director, Charlie Jordan. There’ll also be information on the scope of works to be carried out, explanations of how to get involved and the opportunity to meet representatives from Seaway Heavy Lifting, Navantia, Lamprell, Harland & Wolff, Roadbridge, Van Oord, Prysmian, VBMS, Nexans, DeepOcean, Peel Ports Great Yarmouth, Siemens and ABPorts.

Up to seven additional suppliers will also be attending, to be confirmed shortly. Opportunities will range from civil and electrical contractors, vessel and ports support, to technicians and logistics.

ScottishPower Renewables is starting construction this year, with the first turbines to be installed by 2019 and the project fully operational during 2020.

Full-access pass holders will be able to take full advantage of the presentations whilst there are also free exhibition-only passes which will give holders the opportunity to network with representatives from these suppliers at their stands. Delegates MUST register prior to the event to be allowed admission. Upgrades of exhibition-only passes may be permissible on payment of the appropriate fee.

More info

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