Cepsa earns 337 million and exceeds pre-COVID levels due to the rebound in crude prices.

Cepsa has managed to recover the profit levels prior to the Covid-19 pandemic. The company led by Philippe Boisseau, has obtained a profit of 337 million euros in the first half of the year, which contrasts with the red numbers of 841 million registered during the first half of 2020. Even so, this profit is to exceed that obtained in the first half of 2019, when it obtained a net result of 273 million.

During the second quarter of 2021, Cepsa has been favored by the recovery in demand thanks to the lifting of restrictions on mobility and the strong rise in the price of raw materials. It has also benefited from the positive impact of its active optimization policies.

Among the key business figures, an adjusted EBITDA of 842 million stands out, which is 33% more. Net debt during the quarter fell by € 600 million to € 2.4 billion.

By business area, Production and Exploration registered an ebitda of 217 million euros, 26% more than in the first quarter, as a result of a slight increase in production due to the partial lifting of OPEC quotas and the increase in oil prices (+ 10%).

For its part, the Refining area multiplied its ebitda tenfold to 79 million euros, thanks to the fact that refining margins shot up during the quarter, due to the strong prices of petrochemical products.

Finally, the ebitda of the Commercial area increased by 38% compared to the previous first quarter, reaching 111 million euros, with a sales volume that increased by 8%. And, although the demand for fuels is still affected by the pandemic, in the second quarter it experienced a slight improvement, with an increase of 6%.

 

News seen in:

https://cincodias.elpais.com/cincodias/2021/07/28/companias/1627497817_272995.html

 

 

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Bound4blue completes installation of three suction sails on board 50,000 tpm tanker
27 February, 2025

Bound4blue completes installation of three suction sails on board 50,000 tpm tanker

Spanish company bound4blue, which specialises in auxiliary wind propulsion systems, has successfully completed the installation of three eSAIL suction sails on board a product tanker, the Pacific Sentinel, owned by Singapore-based Eastern Pacific Shipping (EPS).

The installation of the three 22 m high sails was carried out at the Besiktas shipyard in Turkey, taking advantage of a scheduled shutdown of the vessel. The assembly of the systems was completed in less than three days, as planned.

The eSAIL auxiliary wind propulsion system developed by bound4blue is based on the use of a thick sail with an intelligent suction system. These sails are easy to install, operate and maintain, have very few moving parts and are suitable for almost all types of vessels. The company expects fuel savings of approximately 10%, depending on the route.

The installation of the systems on the Pacific Sentinel, a 50,000 dwt product tanker, presented a number of unique challenges, including the vessel´s strut and the existence of ATEX zones (where equipment installed on board must comply with explosion-proof regulations). It was carried out in collaboration with the American Bureau of Shipping (ABS), meeting classification and safety standards. ABS played a key role in granting the ‘wind-assisted’ notation, fundamental for the structural integration of eSAILs with the ship and their alignment with regulatory frameworks such as the ETS Directive, the FuelEU Maritime Regulation or the IMO´s IIC.

 

News and image obtained: ‘Asociación de Navieros Españoles’.

https://anave.es/bound4blue-completa-la-instalacion-de-tres-velas-de-succion-a-bordo-de-un-petrolero-mr/

 

 

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