Earnings rise for wellboat operator Intership
Wellboat company Intership – which operates in Scotland, Canada, Chile and Iceland as well as its home country of Norway – increased both sales and operating profit last year.
Turnover increased from NOK 223.9 million in 2019 to NOK 243m in 2020, and operating profit rose by a third from NOK 62.4m (£19.1m) in 2019 to NOK 83.2m in 2020. The operating margin rose from 28% to 34%.
Intership was established in 2014 and has had solid growth since its inception. The company operates vessels that handle, process and transport fish, and as of today has 115 employees.
Strong growth
Chief executive Ole Peter Brandal said Intership is continuing its planned growth.
“Intership is a relatively new shipping company with strong growth. This means that neither the top nor bottom line fully reflects the activity. In 2020, however, the activity was at such a high level that the underlying earnings are starting to become visible, and we are very pleased with the result,” said the executive.
The figures for 2019 reflect year-round operation of three boats, during which the company invested in another three boats.
“The 2020 figures reflect year-round operation of six boats, while we bought another vessel during the year,” said Brandal.
Seven vessels
The company now has seven boats in the fleet and two more wellboats under construction with delivery in 2022. The total fleet capacity of the company will then be almost 16,000m³ distributed across nine wellboats.
“The goal for the year is to operate our seven boats in the best possible way, have good control of the construction process on the two under construction and conclude several long-term contracts,” Brandal told Fish Farming Expert’s Norwegian sister site, Kyst.no.
The wellboat with the temporary title Inter TBN II is under construction at Zamakona Yards Bilbao in Spain. The new-build was designed by Salt Ship Design with a strong focus on the environment and reduction of emissions.
“Good fish handling, fish welfare and biosafety are of the highest priority. In addition, the boat will be equipped with a large battery pack, solutions for energy recovery and be prepared for the installation of fresh water production facilities with large capacity,” said Brandal.
The vessel has a well volume of 2,500m³ and is 76.6 metres long and 17 metres wide.
