September 28, 2016 10:24 PM ET

Transportation Infrastructure

Company Overview of Harbor Star Shipping Services, Inc.

Company Overview

Harbor Star Shipping Services, Inc. provides a range of maritime services in the Philippines. The company offers harbor assistance services for public or open ports, as well as to various private ports managed by corporations engaged in the oil and gas, power, and mining industries; lighterage services for transporting various types of cargo domestically; salvage services for vessels in distress and wayward vessels, as well as wreck removal services; and regular and emergency towing services. It is also involved in the marine repair and maintenance works, such as port construction, pier repair, and other port-related development activities; and the provision of other marine services comprisi...

2224, A. Bonifacio Street corner Pres. Sergio Osmeña Highway

Bangkal

Makati City,  1233

Philippines

Founded in 1988

Phone:

63 2 889 6410

Fax:

63 2 887 2103

Key Executives for Harbor Star Shipping Services, Inc.

Harbor Star Shipping Services, Inc. does not have any Key Executives recorded.

Harbor Star Shipping Services, Inc. Key Developments

Harbor Star Shipping Services, Inc. Secures USD 2.5 Million Offshore Financing Facility

On 19 September 2016, Harbor Star signed a financing Agreement with Chailease International Financial Services Co. Ltd. for the latter to provide up to USD 2.5 million dollars credit facility. The facility will be used to fund its expansion plans and operations of the Corporation overseas.

Harbor Star Shipping Services, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

Harbor Star Shipping Services, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported, service income, net of PHP 357,547,917, operating profit of PHP 80,677,850, profit before income tax of PHP 69,814,314, profit attributable to owners of the parent of PHP 47,890,797, compared to service income, net of PHP 225,252,512, operating profit of PHP 4,374,390, profit before income tax of negative PHP 7,070,202, profit attributable to owners of the parent of PHP 2,114,635, for the same period a year ago. Book Value per Share was PHP 2.52 compared to PHP 2.38 as at December 31, 2015. For the year to date, the company reported, service income, net of PHP 678,238,912, operating profit of PHP 124,508,475, profit before income tax of PHP 103,308,588, profit attributable to owners of the parent of PHP 71,300,690, compared to service income, net of PHP 461,592,307, operating profit of PHP 42,843,826, profit before income tax of PHP 24,886,328, profit attributable to owners of the parent of PHP 24,513,784, for the same period a year ago. Diluted earnings per share were PHP 0.12 against PHP 0.04 a year ago. Net cash flows from operating activities were PHP 189,095,185 against PHP 64,607,818 a year ago. Acquisitions of property and equipment were PHP 202,783,657 against PHP 305,002,980 a year ago.

Harbor Star Shipping Services, Inc. Announces Unaudited Consolidated Earnings Results for the Period Ended March 31, 2016

Harbor Star Shipping Services, Inc. announced unaudited consolidated earnings results for the period ended March 31, 2016. For the period, operating revenue was PHP 320,691,000 against PHP 236,340,000 a year ago. Net income before tax was PHP 33,494,000 against PHP 31,957,000 a year ago. Net income attributable to parent equity holder was PHP 23,410,000 against PHP 22,399,000 a year ago. Earnings per share (diluted) were PHP 0.04 against PHP 0.04 a year ago. Book value per share was PHP 2.42 against PHP 2.38 a year ago. Operating profit was PHP 43,830,625 against PHP 38,469,436 a year ago. Net cash used in operating activities was PHP 725,535,000 against net cash flows from operating activities was PHP 52,547,072,000 a year ago. Acquisitions of Property and equipment were PHP 23,712,760,000 against PHP 174,250,375,000 a year ago.

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