Wilh. Wilhelmsen’s Auto Volumes Plunge in Q1

Image Courtesy: Wilh. Wilhelmsen

Norwegian rolling cargo shipping specialist Wilh. Wilhelmsen Holding (WWH) experienced “a sharp decline” in seaborne transportation as its auto volumes dropped 21 percent during the first quarter of 2016.

The company’s maritime services segment delivered “a soft first quarter,” partly driven by seasonality.

“The challenging shipping markets continuous impact on ship owners’ purchasing capabilities and as such demand for certain maritime services. In addition, the ships service area was impacted by the implementation of a new global ERP platform. The system performance and usage is improving day-by-day, and we expect this to stabilise during the second quarter,” Thomas Wilhelmsen, group CEO at WWH, said.

WWH delivered a total income of USD 848 million, while the operating profit ended at USD 143 million. When adjusting for non-recurring items, the total income and operating profit was down 3% and 32% quarter on quarter, indicating weaker underlying performance for the group in total.

“Volume growth for our car and ro-ro services is expected to remain weak. We expect the challenging shipping and offshore markets to continue to affect parts of the maritime services portfolio. All in all, we expect the underlying business in the second quarter to be in line with the first quarter,” Wilhelmsen said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2017 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Global Liner Shipping Asia Conference

Fight. Survive. Thrive. Respond to challenges of consolidation & disruption at the largest gathering of container shipping industry in Asia…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference. With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and […]

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >