ShippingWatch

Wrist profits lower than expected

Earnings did not match the turnover which increased by 20 percent in 2011 according to the 2011 annual accounts from Wrist Ship Supply

Photo: Hyundai Merchant Marine

With a 2011 profit of USD 3.6 million, earnings in Wrist Ship Supply were lower than expected even though it was bigger than the 2010 profit of USD 2.5 million. The company states so in its 2011 accounts but underlines that the overall development in the Ove Wrist Group went according to plan.

Turnover was higher than expected; landing at approximately USD 407 million which is an increase of 20 percent compared to 2010. During the latest accounting year, the company has focused on international expansion integrated with purchases. In particular,  German shipping and management companies have contributed to the growth just as Wrist has increased its presence in the Asian Pacific region.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Ørsted wants Maersk as customer in green methanol project

Energy company Ørsted has just bought 45 percent of Swedish Flagship One, which is set to produce green methanol for the shipping industry as of 2024. Ørsted's head of hydrogen wants Maersk as customer in the large scale project, he tells ShippingWatch.

Singapore names its biggest bunker suppliers

TFG Marine, a bunker company founded by two John Fredriksen-controlled carriers and commodity trader Trafigura, is among the five biggest bunker suppliers in Singapore in 2021. See the list here.

Record number of ships passed through Suez in 2021

Despite the blockage in the Suez Canal during spring of last year, the crucial waterway set a record for the number of ships passing through in 2021, reports Bloomberg. The canal is expected to complete an expansion by the middle of next year.

Related articles

Latest news

See all jobs