For the three months ended June 30, 2002, Rowan incurred a net loss of $8.7 million, or $.09 per share, on revenues of $148.5 million, compared to net income $87.7 million, or $.92 per share, on revenues of $137.8 million in the first quarter of 2002, and net income of $34.3 million, or $.36 per share, on revenues of $210.4 million in the second quarter of 2001. First quarter 2002 results included net proceeds from the settlement of the Gorilla V contract dispute, which increased net income by approximately $102 million, or $1.07 per share. Excluding the effects of the settlement, the Company's first quarter 2002 results would have been a net loss of approximately $14 million, or $.15 per share. Rowan's offshore rig utilization was 87 percent during the second quarter of 2002, versus 80 percent in the first quarter and 90 percent in the year-earlier period, and our average offshore day rate of $30,500 decreased by $2,400, or 7 percent, from the first quarter and by $30,600, or 50 percent, from the year-earlier period. Land rig utilization was 68% during the second quarter of 2002, versus 84 percent in the year- earlier period, and our average land rig day rate of $10,200 decreased by $400, or 4 percent, from the first quarter and by $4,100, or 29 percent, from the year- earlier period.
Northrop Grumman Corporation reported income from continuing operations of $207 million, or $1.09 per share, compared with $181 million, or $1.52 per share, for the same period of 2002. Second quarter 2003 earnings per share are based on weighted average diluted shares outstanding of 184.4 million versus 114.8 million for the second quarter of 2002. Sales for the 2003 second quarter increased to $6.6 billion from $4.2 billion for the same period of 2002.
Carnival Corporation & plc reported net income of $734.3 million ($0.90 Diluted EPS) on revenues of $2.52 billion for its third quarter ended August 31, 2003, compared to net income of $500.8 million ($0.85 Diluted EPS) on revenues of $1.44 billion for the same quarter in 2002. Net income for the nine months ended August 31, 2003 was $988.9 million ($1.42 Diluted EPS) on revenues of $4.90 billion, compared to net income of $824.6 million ($1.40 Diluted EPS) on revenues of $3
Carnival Corporation reported net income of $116.3 million ($0.20 Diluted EPS) on revenues of $959.1 million for its fourth quarter ended November 30, 2001, compared to net income of $193.8 million ($0.33 Diluted EPS) on revenues of $850.3 million for the same quarter in 2000. Net income for the year ended November 30, 2001, was $926.2 million ($1.58 Diluted EPS) on revenues of $4.54 billion, compared to net income of $965.5 million ($1.60 Diluted EPS) on revenues of $3
The IM Skaugen group reported a pre-tax result of MUSD 20.3 in 2003 including a net gain from sale of assets of MUSD 19.3 - (MUSD 4.8 in 2002). The result on EBITDA basis is MUSD 24.8 in 2003 (MUSD 25.8 in 2002 and MUSD 33.9 in 2001). The Board has decided to recommend to the Annual General Meeting on March 1st 2004 to pay a dividend of NOK 7.- per share (NOK 7.50 in 2002 and 7.00 in 2003). The payment of this dividend, for the calendar year 2003
Trailer Bridge, Inc. reported financial results for the second quarter ended June 30, 2002 highlighted by a significantly reduced losses, profits in the months of May and June and the beginning effects from what is anticipated to be sharp and continuing improvements in market conditions in the Puerto Rico lane. When the company released its first quarter results, it disclosed a just announced transaction where a competitor with a 27 percent market share and operating under Chapter 11 of
The Waterfront Commission of New York Harbor announced that it granted the joint-recommendation of the New York Shipping Association-International Longshoremen's Association Contract Board which requested that the Commission accept applications from 400 persons for inclusion in the Longshoremen's Register and also that the Commission accept applications for the replacement of up to 415 potential retirees for the period of October 1, 2002 to September 30, 2003.
The Washington State Department of Ecology issued a Press Release stating that it assessed a fine in the amount of $81,000 against the Dockendale Shipping Company of the Bahamas for the spill of an estimated 8,000 gallons of bunkers from the M/V PENDRECHT while it was berthed near Longview, Washington on the Columbia River in January 2002. The spill resulted when oil from the bunker tank leaked through a crack into a ballast tank and was then pumped overboard
The Department of Homeland Security issued a final rule implementing the Support Anti-terrorism by Fostering Effective Technologies Act of 2002 (the SAFETY Act). The purpose of the regulations is to facilitate and promote the development and deployment of anti-terrorism technologies that will save lives. This final rule amends the previous interim rule to incorporate changes resulting from comments submitted regarding the earlier rule. The changes come into effect on July 10. 71 Fed. Reg
Greek Prime Minister Costas Simitis said on Wednesday that island shipping would be liberalized by 2002, two years ahead of schedule as a result of last week's sinking of ferry Express Samina. Shipping officials have partly blamed the ferry's sinking last Tuesday on the near-monopolies that have developed in the Aegean, saying some healthy competition would improve the quality of ships and services. Simitis said shipping companies were merging for strength ahead of the opening of the
As tonnage in the East Coast South America (ECSA) region continued to outnumber fresh grain requirements, Supramax front-haul freight rates fell this week, reports Platts, quoting shipping sources. The rate for carrying a 50,000 mt grain stem from ECSA to the Far East continued at
Global marine engineering consultant company London Offshore Group Ltd (LOC) opened an office in Houston in 1985, signaling the start of 30 years of involvement in U.S. marine warranty surveying and maritime consulting. In 2002, the group established a Miami office to serve clients in
GE Power Conversion receives first order in Japan from Kawasaki Heavy for electric propulsion motor equipment for LNG vessels GE’s Power Conversion business has received a new order from Kawasaki Heavy Industries, Ltd. for electric power and propulsion systems for two LNG carriers
Brazil's Petroleo Brasileiro SA expects to release unaudited third-quarter financial results on Jan. 27 after a scheduled meeting of its board of directors, the state-run oil company said Wednesday in a statement. Petrobras, as the company is known
Matthieu de Tugny to lead Bureau Veritas' offshore activities Bureau Veritas has appointed Matthieu de Tugny as Senior Vice President in charge of offshore activities within the marine and offshore operating group. He is tasked with driving forward Bureau Veritas Group initiatives in the oil
Tsuneishi Shipbuilding Co., Ltd. finished building an 82,000-mt D/W type bulk carrier Ultra Lion on January 7, 2015, marking the completion of the builder’s 200th Kamsarmax model vessel. Built by Tsuneishi Group Shipbuilding, Inc
Current COO Patrick J. Gallwey to Retire in March After 34 Years. Brandy D. Christian has been named the new Chief Operating Officer of the Port of New Orleans by President and CEO Gary LaGrange, succeeding Patrick J. Gallwey, who will retire March 1 after 34 years with the Port
Royal IHC has acquired a majority stake in Brazilian-based Brastec Technologies, a designer and builder of tailor-made production lines for the production of umbilicals and flexible pipes. According to IHC, the agreement fulfils two important elements of its business strategy: a foothold
Danaos Corporation, a leading international owner of containerships, today reported unaudited results for the period ended September 30, 2014. Highlights for the Third Quarter and Nine Months Ended September 30, 2014: * Operating revenues of $139
Costa Diadema the fifteenth ship and new flagship of Costa Cruises fleet, was presented today by Costa Cruises and Fincantieri. Costa Cruises has invested a total of around 550 million euro in the construction of the Costa Diadema at Fincantieri shipyard in Marghera.
Port industry veteran Don Allee will assume control of the Port’s Cruise and Tourism Division in January, following the retirement of current Director J. Robert Jumonville. Jumonville, who will retire in January after 25 years at the Port
ExxonMobil and its employees and retirees in Northern Virginia raised more than $2.4 million for charitable organizations and local charities in the Northern Virginia area during the 2014 Employees’ Favorite Charities campaign.
Levels of pesticides continue to be a concern for aquatic life in many of the Nation’s rivers and streams in agricultural and urban areas, according to a new USGS study spanning two decades (1992-2011). Pesticide levels seldom exceeded human health benchmarks.
SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio. The last of the three buildings was sold for approximately US$62 million net of expenses, resulting in a book profit of approximately US$58 million.
The American P&I Club has updated its advice to members on the handling of steel cargoes. It has done so in consequence of some recent cases where the absence of pre-loading surveys increased the cost of steel cargo claims on discharge.