K-Sea Transportation Partners L.P. reported record results of operations for its fiscal 2006 first quarter ended September 30, 2005. The Company also announced that its distribution to unitholders in respect of the first quarter will increase by $0.01 to $0.57 per unit, or $2.28 per unit annualized. The distribution will be payable on November 14, 2005 to unitholders of record on November 8, 2005. For the three months ended September 30, 2005, the Company reported operating income of $6.2 million, an increase of $1.7 million, or 37%, compared to $4.5 million of operating income for the three months ended September 30, 2004. The increase resulted from the expansion of the Company's fleet barrel-carrying capacity over the past year and continued strong vessel utilization, plus improved average daily rates in the Company's coastwise trade as a result of continuing strong demand for refined petroleum products and higher oil prices. Additional vessels put into service over the past year include the tank barges acquired as part of the Norfolk acquisition in December 2004, which are now contributing positively to operating results, one vessel which was placed back in service in September 2004, after being double hulled, and one vessel placed back in service in May 2005 after being retrofitted. Hurricanes Katrina and Rita had no significant impact on operations for the quarter.
TOP Tankers Inc., announced its operating results for the third quarter and nine-month period of 2006 and restatement of first, second quarter and first half of 2006 unaudited financial statements. For the three months ended September 30, 2006, the company reported net loss of $11,394,000, or $0.35 per share, compared with net income of $7,921,000, or $0.28 per share, for the third quarter of 2005. The weighted average numbers of basic shares used in the computations were 32,163,137 and 28
Aker Yards ASA reported an EBITDA of NOK 240 million for the second quarter of 2005, which corresponds to an EBITDA margin of 5.9 percent. The margin year to date is 5.3 percent. The order intake in the second quarter was NOK 9.3 billion, giving a total order backlog of NOK 36.3 billion at the end of the quarter, representing 110 vessels to be built at the groups' 13 yards. Aker Yards confirms its guidance for 2005 that foresees a growth in revenues to a level in the range of NOK 16-18 bn
The executive committee of Euronav NV reported its financial results for the three months ended March 31, 2006. The company had net income of $93.5 million (2005: $80.8 million) or $1.78 (2005: $1.92) per share, for the three months ended March 31, 2006. This is the highest result for a first quarter ever. EBITDA for the same period was $141.3 million (2005: $98.7 million). The average daily time charter equivalent rates, or TCE
Aker Yards ASA reported an EBITDA of NOK 304 million for the third quarter of 2006, an increase of 7.8 percent compared with the third quarter of 2005. Challenges on three RoRo container vessels gave a negative result effect in the quarter of approximately NOK 60 million for the business area Merchant Vessels. Additionally, capacity costs related to low capacity utilization in France resulted in a negative effect of NOK 90 million in the quarter, slightly more than anticipated
Support services and shipbuilding firm VT Group said its interim results benefited from the positive impact of recent acquisitions, which traded in line with expectations. The company's earning per share jumped 22.3% to 12.89p. Due to the strong results, the company increased the interim dividend payable to 3.25p a share, an 8.3% increase from 2005. Within the next six months, the group will find out whether its bids for three large military PFI support programmes have been successful
Diamond Offshore Drilling, Inc. reported net income of $82 million, or $0.60 per share on a diluted basis, for the third quarter of 2005, compared to net income of $2.9 million, or $0.02 per share on a diluted basis, in the same period a year earlier. Revenue for the third quarter of 2005 was $310.5 million, compared to revenue of $208.2 million for the third quarter of 2004. For the nine months ended September 30, 2005, the company reported net income of $153.4 million, or $1
Eagle Bulk Shipping, Inc., the largest U.S. based owner of Handymax dry bulk vessels, reported its financial results for the second quarter ended June 30, 2005. Members of Eagle Bulk's senior management team hosted a teleconference and webcast at 8:30 a.m. this morning to discuss the results.
British Columbia Ferry Services Inc. (BC Ferries) announced its third quarter results for fiscal 2005/06 with a net loss of $0.9 million for the three months ended December 31, 2005, compared to a net loss of $4.2 million in the same quarter last year. Due to the seasonality of ferry travel, BC Ferries generates higher net earnings in the spring and summer quarters, which are subsequently reduced by net losses in the last two quarters of its fiscal year.
Continued progress characterized results for Wilh. Wilhelmsen ASA (WW) in the first half of 2005. The group has never delivered such high quarterly figures, including an operating income of $511 million in 2Q 2005 (vs. $452 million in 2Q 2004). WW's net operating profit for the second quarter was $72 million, an improvement of $15 million from the same period of 2004. Profit before tax for the quarter came to $64 million, compared with $51 million for April-June last year.
Royal HaskoningDHV appoints two new leaders at Corporate level for Finance & Control and Global HR Services: Jasper de Wit has been named Corporate Director Finance & Control per January 1, 2017, and Abhishek Kaushal has been appointed to lead Global HR Services per December 12, 2016
Incheon Port's annual container volume surpassed 2.5 million TEUs as of December 16, the largest-ever volume in the history of Incheon Port, in 11 years since hitting 1 million TEUs in 2005 and in three years since reaching two million TEUs in 2013.
The Incheon Port Authority or IPA (www.icpa.or.kr, IPA) proclaimed a new voyage to make the top 30 ports in the world in a ceremony to celebrate the achievement of 2.5 million TEU annual container volumes at Incheon New Port located in Songdo-dong, Yeonsu-gu, Incheon, on December 16.
South Carolina Ports Authority (SCPA) announced a record container volume of nearly two million 20-foot equivalent units (TEUs) handled in 2016. SCPA handled 1.996 million TEUs in 2016, surpassing the previous record of 1.985 million TEUs handled in 2005. Container volume in TEU was up 1
For 16 years, the National Quality Steering Committee has used three measures to track overall trends in safety and environmental protection. While not all-encompassing, the measures are considered to be useful indicators of towing industry trends. The measures are:
Clarksons Research says that there has been a rapid expansion in the world fleet over the last decade. However, the pace of growth has slowed dramatically in recent years. Generally more limited contracting and subsequently significantly lower delivery volumes combined with
Euronav NV announced today that it has agreed to purchase the 50% of the joint venture it does not own in the VLCC V.K. Eddie (2005 – 305,261 dwt). Euronav will buy the vessel from the joint venture company at a price of USD 39 million and will receive back 50% of the proceeds
Vessel sales for October2016 (as of November 1) as prepared by Shipping Intelligence, Inc., New York. Date Reported - Vessel Name - DWT - Year Built - (Age) - Price in Millions USD Bulk Carriers 10/16 - ORIENTAL PHOENIX - 14,181 - 1999 - (17) - $2.35
As in many sectors of economic activity, provision of just the right amount of capacity is a tricky business, and the shipbuilding industry is no exception, says Clarksons Research. As a result, in stronger markets the ‘lead time’ between ordering and delivery extends
The governing boards of the Port of Los Angeles and the Port of Long Beach will hold a joint public meeting Nov. 17 to discuss proposals for updating the San Pedro Bay Ports Clean Air Action Plan (CAAP). Developed over the past year, the CAAP Discussion Document outlines the ports’ plans for
There are distinct signs that the offshore wind sector is emerging from a period of relative quiet, says Clarksons Research. For the first time in several years, the number of final investment decisions (FIDs) is on the rise
A failed front axle on an amphibious "duck boat" led to a deadly Seattle collision between the vehicle and a charter bus that killed five international students, the National Transportation Safety Board found on Tuesday. The September 2015 incident on the city's busy Aurora
Crowley Maritime Corporation’s Jeannie Eisenhart, director of talent acquisition and employee services, and Bleu Hilburn, director of logistics business development, have been honored with 2015 Thomas Crowley Awards, the company’s highest honor for its employees.
Daewoo Shipbuilding & Marine Engineering Co. (DSME) has bagged a combined 700 billion won (US$590 million) in potential orders from Maran Tankers Management, a unit of Angelicoussis Shipping Group, reported Yonhap. Under the agreement with the Greece's largest shipper the troubled
Sole standalone in a sea of tiebacks: BP's Mad Dog is the only major final investment decision (FID) in deepwater Gulf of Mexico this year, says Wood Mackenzie. On 1 December 2016, BP (60.5% and operator) sanctioned the Mad Dog Phase II development in the deepwater Gulf of