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 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
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
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
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.
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
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.
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.
Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die Welt reported on its website on Friday, citing industry sources. Aerospace and defence group Airbus - then called EADS - and German
During the recent call in Beirut, Lebanon, of the 'CMA CGM Columba', Mr. Jacques R. Saadé, CMA CGM Group's Chairman and Chief Executive Officer, visited the 11,400 TEU ship. He spoke with the Captain about the savings generated by the recent change of the bulbous bow on the ship
During the CMA CGM Columba call in Beirut, Lebanon, on August 19, Jacques R. Saadé, CMA CGM Group's Chairman and Chief Executive Officer, visited the 11,400 TEU ship. He spoke with the Captain about the savings generated by the recent change of the bulbous bow on the ship
Norwegian prime minister Erna Solberg officially opened the Gudrun platform in the North Sea today, 19 August. This is the first new Statoil-operated platform on the Norwegian continental shelf (NCS) since Kristin in 2005. Gudrun is the first in a long line of new field developments operated by
Despite what it describes as 'challenging market conditions' Royal Boskalis Westminster N.V. posted record profits in the first half year ended 30, June 2014. Highlights first half 2014 - Revenue exceeds EUR 1.5 billion - EBITDA: EUR 466 million
Further to Class News No. 11/2014, Standard Communications Pty Ltd. has issued a Product Safety Recall relating to its GME-brand emergency position indicating radio beacons (EPIRBs). The following GME EPIRB models, manufactured between January 2005 and February 2008, have been recalled: MT400
Nordic American Tankers Limited (NAT) announced that it today took delivery of its 22nd Suezmax vessel, the Nordic Skier, built in 2005 at a shipyard in South Korea. NAT agreed to purchase the vessel for the price of $36.5 million, as announced in June, 2014
Port of Redwood City reports 19% increase in cargo movement; highest since 2006 and third highest in modern history Reflecting a significant increase in construction in the Bay Area and the high quality of building materials from British Columbia
Port of Boston is Vital Economic Engine and Job Generator for Region. The Port of Boston generated $4.6 billion in 2012 and more than 50,000 jobs are supported by the port, including more than 7,000 direct jobs, according to a report released by the Massachusetts Port Authority (Massport).
Nordic American Tankers Limited (NAT) took delivery of its 21st Suezmax vessel, the Nordic Sprinter, built in 2005 at a shipyard in Korea. NAT agreed to purchase the vessel along with its sistership for $36.5 million each. NAT expects the delivery of the second vessel in early August 2014
Barge manufacturer doubles production and reduces paint waste with new blast line. When the 600th barge launch was celebrated at Brownsville Marine Products (BMP) just south of Pittsburgh in November 2012, it marked the company’s success at reviving a site with over 75 years of history
Following a weak first quarter and due to poorer than expected results during the past months, Fugro says it has decided to disclose preliminary non-audited information on its performance in the first half of 2014. Excerpts as follows: Fugro expects to report over first half of 2014:
Full-year underlying profit guidance unchanged; writedown raises questions over company's oil strategy. Danish oil and shipping group A.P. Moller-Maersk moved to shrink its Brazilian petroleum operations on Tuesday, selling its stake in its only producing Brazilian oilfield and saying it will
The Paris MoU published its report on 2013’s worldwide flag performance, “White, Grey and Black Lists.” The report indicates further improvements towards quality shipping. Last year Thailand and the United States of America were moved up to the White List
India awaits with heightened expectations for the Union Budget to be announced on 10th July, 2014 by the New government headed by Narendra Modi who is considered to have a very progressive outlook and set on bringing in rapid development in the country.