Svitzer doubled its result in 1H 2010

SHIPPING: The A. P. Moller - Maersk owned Svitzer has reported an improved result for the first half of 2010, despite low port towage and offshore markets. The net result was 73m dollar, up from 34m dollar last year.

The improved result is partly due to a sale of Svitzer's 14.3 per cent share in Flinders Ports in Australia.

In the first half of 2010 Svitzer took delivery of five newbuildings, and expects to take delivery of another four units in the second half of 2010.

A further 37 vessels are on order for delivery in 2011-2012.

Source: Svitzer / maritimedanmark.dk

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