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
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.