Colombo-listed John Keels Holdings (JKH) Tuesday posted lower profits for the nine months ended 31 December (Q3) of 2017.
The company recorded net profit of Rs 11.8 billion ($80 million) in Q3 2017, lower when compared to net profit of Rs 12.5 billion in Q3 2016.
JKH saw total revenue of Rs 87.7 billion in Q3 2017, higher than Rs 76.4 billion in the similar period during 2016.
The company’s bunkering business, namely Lanka Marine Services (LMS), saw increased growth.
“The market share and profits of the group’s bunkering business increased as a result of a double-digit growth in volumes,” said Susantha Ratnayake, Chairman of JKH.
He also added the port of Colombo recorded an 8% growth in throughput in calendar year 2017.
JKR’s transportation segment, which also includes LMS, posted net profit of Rs 2.7 billion in Q3 2017, higher than profit of Rs 2.2 billion in Q3 2016.
The segment’s revenue was Rs 12.7 billion in Q3 2017, higher than Rs 7.9 billion during the third quarter of 2016.
Photo credit: Lanka Marine Services
Published: 31 January, 2018
Offers opinion to support recent CIMAC statement on cause of contaminated marine fuel at Houston.
Representatives of Veritas Petroleum Services, Maersk, INTERTANKO, ElbOil Singapore, and SDE International provide insight from their respective fields of expertise on what lies ahead.
‘The depth of the coronavirus crisis and the shape of any potential recovery will ultimately determine how the oil and bunker prices develop in the coming months,’ it says.
The port recorded an 81.5% increase in bunker deliveries via barges.
The number of off-spec VLSFOs due to sulfur dwarfs other causes, but it doesn't seem logical to prepare a fuel that is only slightly off-spec, notes Francisco Malta.
“By working together as an industry, embracing fuel flexibility and consulting with expert partners,such as class, shipping can, and indeed must, reach its destination,” says the CEO of DNV Maritime.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.
Poll shows market participants think Singapore’s future as a bunkering hub in the near term will be impacted most by growth in alternative bunker fuels and intensifying competition from other ports in Asia.
‘We will now take the necessary time to consider and evaluate the verdict and the premises of the verdict thoroughly before making any decision of whether to appeal to a higher court,’ informs company.
