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Wellard is an important link in meeting rising global demand for protein through the supply of quality livestock to consumers throughout the world. The purpose-built, technologically advanced livestock vessels that we charter to exporters and importers throughout the world, combined with a specialist livestock crew, ensure optimal welfare outcomes for the livestock on-board and a quality product our customers.

MV Ocean Swagman

January 7, 2016

ASX Announcement

Wellard Ltd (ASX:WLD) provides the following update on the MV Ocean Swagman.

In light of the current mechanical issue it has experienced with one of the two engines on the MV Ocean Outback, Wellard has taken the precautionary decision not to load the vessel’s sister ship, the MV Ocean Swagman, with cattle as planned in Montevideo, Uruguay. Instead the Company has decided to undertake mechanical works on the vessel to confirm it complies with Wellard’s safety, operational and efficiency requirements for long haul voyages.

The cattle, which are being exported by Wellard, have been loaded onto a chartered vessel. The MV Ocean Outback and MV Ocean Swagman are sister ships with identical engines built at the same time and Wellard is working with the manufacturer of those engines to identify the
root cause of the issue.

Wellard has determined that this will not have a material impact on the Company’s financial forecast.

Media contact:
Cameron Morse, FTI Consulting
Phone: + 61 8 9485 8888
Mobile: +61 (0) 433 886 871

MV Ocean Outback Update

January 5, 2016

ASX Announcement

Wellard Ltd (ASX:WLD) provides the following update on the M/V Ocean Outback.

Technicians working on one of the vessel’s engines near Perth late yesterday encountered previously undetectable issues which cannot be rectified using the mobile equipment Wellard had contracted to undertake the repairs to the affected engine. As the repairs will take longer
than anticipated and cannot be undertaken in Australia, the original plan to repair the second engine and sail to Israel is no longer the preferred solution.

Wellard is presently investigating the best alternative that provides optimal outcomes for animal welfare, the vessel’s charterer and the Company, and is in the process of working through a number of options with important stakeholders. When the preferred option is
agreed and approved, Wellard can then assess the impact on its shipping schedules to determine any financial consequences.

The livestock on board the vessel remain in good condition and the important livestock services (feed, water and ventilation) have not been impacted by the mechanical issue.

Media contact:
Cameron Morse, FTI Consulting
Phone: + 61 8 9485 8888
Mobile: +61 (0) 433 886 871

MV Ocean Outback Update

January 4, 2016

ASX Announcement

Wellard Ltd (ASX:WLD) update on M/V Ocean Outback.

The vessel is expected to resume its voyage on either Thursday or Friday, after a cylinder malfunction in one engine is repaired over the coming days. Work is being overseen by the manufacturer of the engine.

Additional fodder and chaff will be loaded while the engine is repaired to ensure optimal animal welfare is maintained throughout the remainder of the voyage.

The essential livestock services on-board the vessel (ventilation, feed and water) are operating as normal and were not affected by the malfunction.

“With both engines in service, we expect the time the animals will spend on board will be similar to the total voyage length of many other vessels that regularly transport livestock from Australia,” said Wellard Chief Operating Officer Scot Braithwaite.

“Animal welfare is our number one priority and the experienced, Australian-Government accredited veterinarian and stockmen on board will continue to look after the sheep and cattle throughout the voyage.

“The livestock are in good health and we have every confidence will complete the voyage in good health.”

Wellard and the vessel’s charterer have been keeping relevant Government and animal welfare authorities informed about the health of the livestock.

Wellard chose to hold one of its three other vessels, the MV Ocean Ute, off Broome for two days, as a precaution in case it was required to undertake the MV Ocean Outback’s voyage. It was then released to its previous assignment, shipping cattle from Townsville to Vietnam.
The MV Ocean Drover and MV Ocean Swagman continued to operate as normal.

Wellard will provide additional updates if there are any significant changes to the plans outlined above.

Greg Wheeler
Company Secretary
Wellard Limited

MV Ocean Outback Mechanical Issues

December 30, 2015

ASX Announcement

Wellard Ltd advises that one of the two engines on its vessel the MV Ocean Outback has experienced mechanical issues.

As a precautionary measure Wellard delayed the vessel’s departure from Western Australia to assess the best forward options.
Safety and animal welfare considerations will be at the forefront of any decisions made by Wellard and the charterer of the vessel. Feed, water and ventilation to the livestock on board are unaffected by the engine issue.

The MV Ocean Outback was designed and built with a Dual Independent Propulsion System so can safely operate on one engine.

Greg Wheeler
Company Secretary
Wellard Limited

News Feed

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    M/V Ocean Drover Reaches 200th Voyage Milestone

    Media Release The workhorse of the Wellard’s livestock shipping fleet, the M/V Ocean Drover, has celebrated the success of its 200th voyage. Launched twenty years ago as the M/V Becrux (it was renamed the M/V Ocean Drover in 2009), the vessel was a breakthrough for the live export sector as it was first large livestock […]

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    Wellard releases FY2020 financial results, recording maiden full year profit

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    Wellard completes capital restructure through sale of M/V Ocean Shearer for US$53 million

    ASX Announcement Highlights Sale of MV Ocean Shearer completed for US$53.0 million (approx. A$89.8 million1) to reduce Wellard financial debt2 to US$16.9 (approx. A$28.7 million); US$40.8 million (approx. A$69.1 million) reduction in existing debt; US$12.2 million (approx. A$20.7 million) increase in cash on hand; Wellard’s fleet right-sized to three vessels; Successful sale transaction will complete company […]

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    Wellard to defend shareholder class action

    ASX Announcement Wellard Limited (Wellard) has today been served with a class action proceeding filed in the Federal Court of Australia in Victoria. The proceeding filed by Quinn Emanuel Urquhart & Sullivan is on behalf of all persons who or which: acquired an interest: in ordinary shares in Wellard between 8 December 2015 and 31 August […]

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    Wellard releases H1 FY2020 financial results

    ASX Announcement Wellard Ltd (Wellard, ASX:WLD) advises that it recorded Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) of $10.8 million and a net loss after tax of $2.1 million in the six months to 31 December 2019, as the Company continued to restructure its operations and balance sheet. Revenue declined from $188.2m to $49.1m reflecting the […]

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    Wellard to complete capital restructure through sale of M/V Ocean Shearer for US$53M

    ASX Announcement Highlights Sale of MV Ocean Shearer for US$53.0 million (approx. A$77.8 million1) to reduce Wellard financial debt to US$16.7 (approx. A$24.6 million)2; US$42.3 million (approx. A$62.0 million) reduction in existing debt; US$10.7 million (approx. A$15.8 million) increase in cash on hand; Wellard’s fleet right-sized to three vessels (two owned and one exclusively leased); Successful […]

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    WELLARD LIMITED EXECUTIVE CHAIRMAN’S REPORT ANNUAL GENERAL MEETING: 22 NOVEMBER 2019

    ASX Announcement Welcome I would like to welcome shareholders to the 2019 Wellard AGM, my second as Executive Chairman of the Company. As with last year, I will provide a brief chairman’s address before providing more detailed information about the operations and finances of the Company in my executive capacity, alongside the Company’s Chief Financial Officer John Stevenson. […]

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    Wellard releases FY2019 financial results

    ASX Announcement Wellard Ltd (Wellard, ASX:WLD) advises that it retained positive EBITDA and cashflow for FY2019, however poor trading conditions in the second half of the financial year (H2 FY2019), vessel impairments and financing costs contributed to a net loss after tax of $48.4 million (FY2018: $36.4 million). Improved EBITDA of $12.0 million (FY2018: $9.8 million), operating […]

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    Sale of M/V Ocean Swagman to Heytesbury for US$22M to proceed

    ASX Announcement Wellard Limited (ASX:WLD) (Wellard or the Company) advises that it will proceed with the sale of the M/V Ocean Swagman to Heytesbury Holding Company Pty Ltd (Heytesbury) for US$22M. The transaction also includes a bareboat charter of the vessel back from Heytesbury to Wellard immediately upon completion of the sale which is expected to complete on […]

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