Wilh. Wilhelmsen’s Auto Volumes Plunge in Q1

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>

<< Jun 2018 >>
MTWTFSS
28 29 30 31 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 1

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >