SHIPBROKER and London research house Clarkson PLC posted a 53.8 per cent year-on-year first half operating profit increase to GBP42 million (US$50.7 million), drawn on revenues of GBP266.7 million, an increase of 40.2 per cent.
‘Clarksons has had a strong first six months of 2022, with a positive performance across all divisions,’ said CEO Andi Case.
‘The outlook for the business remains strong due to the structural supply shortage in the global shipping fleet and we continue to benefit from our international footprint, leading market position, diverse offering and a deep understanding of the energy transition.
‘The current geo-political situation will accelerate strategic investment into renewables as governments and businesses seek greater independence and become increasingly willing to invest in medium to long-term local alternatives to fossil fuels,’ said Mr Case.
‘At the same time, oil has returned to the fore, at least in the medium term, as solutions to immediate energy requirements are sought. As a result, our offshore business has seen activity increase in both the oil and gas and renewables markets.
‘Our research business provides the highly-rated intelligence that clients and staff use for their decision-making and is central to the group’s strategy. The division delivered a strong performance in the first half as the team worked hard to produce a constant flow of high-quality and market-relevant insights and intelligence, including well-received coverage of the impact of the /Ukraine conflict on shipping markets.
‘Green transition products have enhanced our product range and driven growth, with our Renewables Intelligence Network performing strongly and complementing our Shipping Intelligence Network and World Fleet Register. The division increased profits by 10 per cent to GBP3.4 million,’ Clarkson’s said.
Shipbroking delivered a strong first half, with standout performances in the dry cargo, sale and purchase and tanker markets as sustained volumes and rates buoyed profits, said a Clarkson’s statement accompanying the results.
‘Ongoing supply chain disruption as a result of the Covid-19 pandemic, including continued high levels of port congestion, reduced vessel speeds and the onset of the war in Ukraine, further disrupted seaborne trade,’ it said.
