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.
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
For the third time since the beginning of the year, Le Havre broke its monthly record for containerized traffic as it handled over 155,000 TEUs (twenty-foot equivalent units) in July. This record caps off several months of exceptional results at the port, with shipments measured in tonnage showing growth of 14% since the beginning of 2002. The Port of Le Havre registered over 1.5 million TEUs last year, with
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
Ulstein’s latest design contract for Vroon Offshore Services pushes the total number of offshore ship designs sold from the firm past the 100 mark. This milestone has been achieved in just 14 years, with 74 of the contracts signed for the company’s trailblazing X–BOW design
Drewry’s latest Reefer Shipping Market Annual Review and Forecast reports that worldwide perishable reefer trade increased by 52.1 million metric tons between 2002 and 2012, which represents by a combined annual growth rate (CAGR) of 3.6%
At its meeting today, the Supervisory Board of Hapag-Lloyd AG has set the course at an early stage for maintaining continuity in the Executive Board of Germany’s largest liner shipping company. Rolf Habben-Jansen will succeed Chief Executive Officer Michael Behrendt
Classification News No. 23/2010 detailed new SOLAS requirements* for BNWAS which entered into force on 1 January, 2011, and which apply according to ship type, gross tonnage and keel laying date. The requirements were intended to apply to all vessels
This week, President Obama announced his intent to nominate Captain Paul Nathan Jaenichen, Sr., USN (Ret) as Administrator of the Maritime Administration, Department of Transportation. Jaenichen has been Acting Administrator since David Matsuda’s departure
After more than 10 years of testing, Subsea Industries, a Hydrex company, has launched the rudder protection coating, Ecoshield, for permanent protection against cavitation damage for rudders. The glassflake reinforced coating protects the rudder for the service life of the ship without need for
After more than 10 years of strenuous testing, Subsea Industries, a Hydrex company, has launched the ultimate rudder protection coating, Ecoshield, for permanent protection against cavitation damage for rudders. The glassflake reinforced coating protects the rudder for the service life of the ship
In accordance with the Swedish Securities Market Act and the Swedish Financial Instruments Trading Act, Concordia Maritime published its interim report for 2013. Highlights are as follows: Interim Report 1 January – 30 June 2013 •Positive view of the product tanker market
Capt. Richard W. Sanders, Ph.D., a member of the Permanent Commissioned Teaching Staff at the U.S. Coast Guard Academy and professor of chemistry, has been named Director of the Center for Maritime Policy and Strategy, or CMPS, as of June 1, 2013.
The 2002-built Liberian-flagged ship, operated by German company Leonhardt & Blumberg, was abandoned by the crew 200-miles NE of Mauritius after a fire spread from a container to engulf the ship's superstructure. Unable to control the fire the crew of 17 was rescued by
ClassNK releases Progressive Speed Trial Analysis Software 'PrimeShip-GREEN/PSTA' which analyzes the results from speed trials and calculates a corresponding ship’s speed in calm sea conditions for compliance with the amendment to MARPOL Annex VI.
MAN Turbocharger China unveils the first TCR12 turbocharger completely assembled at its Changzhou factory. This new development confirms MAN Diesel & Turbo’s strategy of localising its turbocharger production in China. Over the last two decades
Among latest Deptartment of Defense, Navy contracts, an option for renewal of the 12-month time charter of the US-flagged surface support vessel is exercised. Alpha Marine Services, LLC, Cut Off, La., is being issued an $8,184,030 modification under a previously awarded firm-fixed-price
Tomorrow, the National Marine Manufacturers Association (NMMA) kicks off a third summer season of alternative biofuel testing in an effort to further advance marine engine technology and find an alternative to fuel containing more than 10% ethanol as a result of its damaging effects on marine
A new interactive display on Particularly Sensitive Sea Areas (PSSA) has been launched at IMO Headquarters and online at www.pssa.imo.org. A PSSA is an area that needs special protection through action by IMO because of its significance for recognized ecological or socio-economic or scientific