• ITVI.USA
    13,924.900
    3.330
    0%
  • OTRI.USA
    22.080
    -0.170
    -0.8%
  • OTVI.USA
    13,904.220
    5.970
    0%
  • TLT.USA
    2.650
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.480
    0.060
    2.5%
  • TSTOPVRPM.CHIATL
    2.190
    0.050
    2.3%
  • TSTOPVRPM.DALLAX
    1.400
    0.180
    14.8%
  • TSTOPVRPM.LAXDAL
    2.730
    0.160
    6.2%
  • TSTOPVRPM.PHLCHI
    1.440
    0.040
    2.9%
  • TSTOPVRPM.LAXSEA
    2.870
    -0.010
    -0.3%
  • WAIT.USA
    108.000
    5.000
    4.9%
  • ITVI.USA
    13,924.900
    3.330
    0%
  • OTRI.USA
    22.080
    -0.170
    -0.8%
  • OTVI.USA
    13,904.220
    5.970
    0%
  • TLT.USA
    2.650
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.480
    0.060
    2.5%
  • TSTOPVRPM.CHIATL
    2.190
    0.050
    2.3%
  • TSTOPVRPM.DALLAX
    1.400
    0.180
    14.8%
  • TSTOPVRPM.LAXDAL
    2.730
    0.160
    6.2%
  • TSTOPVRPM.PHLCHI
    1.440
    0.040
    2.9%
  • TSTOPVRPM.LAXSEA
    2.870
    -0.010
    -0.3%
  • WAIT.USA
    108.000
    5.000
    4.9%
American Shipper

Leif Hoegh doubles operating profit, restructures business

Leif Hoegh doubles operating profit, restructures business

   Leif Hoegh & Co. Ltd. more than doubled its operating profit in 2004 and announced a corporate restructuring that will see its roll-on/roll-off operator HUAL merged into a new company named Hoegh Autoliners.

   Operating profit for 2004 was $106 million up 129 percent over the $46 million posted in 2003. Hoegh said the increase in operating profit was partly due to a 2003 loss from sale of vessels being replaced by a profit in 2004. Freight revenues increased to $828 million from $746 million in 2003.

   As part of the restructuring Leif Hoegh & Co will be a holding company without commercial operation or external visibility. All operating activities will be integrated in two separate entities, Hoegh Autoliners, a fully integrated ro/ro company and natural gas carrier Hoegh LNG. Hoegh Fleet Services will provide ship management for the ro/ro and LNG vessels as before.

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