Thursday, November 5, 2009

Shipping Services Group Release Figures

Clarksons Optimistic for Future
Shipping News Feature

UK - Clarksons, one of the world’s leading shipping services group, today announced in its results for the period from 1 July 2009 to 4 November 2009 that the group has seen its business grow in a number of key fields despite the problems in the wider shipping industry.

The company reports that its ship brokerage business has seen transaction volumes maintained or increased across most areas, particularly dry cargo and deep sea tankers, though reduced freight rates continue to impact broking revenues across all areas, and the gas and specialised products areas have actually experienced profit growth.

Clarksons said in a statement that: “There has been a cautious return to buying activity in the sale and purchase markets from both traditional owners and new market participants, however the availability of credit still continues to hamper activity.”

Lower rates is also continue to affect the firms futures broking business and port and agency and technical services, though these activities continue to trade in line with previous projections.

Another field that Clarksons has experienced increased revenue from is its market research and intelligence department which it attributes to the uncertainty across the global shipping markets. As a result the number of companies that utilise this service has increased.

Clarksons say that: “Conditions remain challenging across a number of our markets, due particularly to lower freight rates and asset values, but the diversification of Clarksons businesses across the shipping sector, coupled with our unrivalled knowledge and expertise, positions us well. Consequently, trading since the start of the second half of the year has continued in line with the Board’s expectations.”

With the recent opening of new offices in Aberdeen and Norway, the group looks set to emerge from the downturn in a very good position to exploit future markets as the economy improves.