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2007 Results

TOP Tankers Announces Release of 3Q Results and Conference Call

TOP Tankers Inc (Nasdaq: TOPT) announced plans to release its third quarter 2007 results on Thursday, November 8, 2007, before market opening. That same day, at 11:00 AM EST, management will host a conference call, which will be broadcast live over the Internet.


Arlington Tankers Announces Unaudited 2Q 2007 Results

Arlington Tankers Ltd. announced financial results for the second quarter and the six months ended June 30, 2007. For the quarter ended June 30, 2007, the Company's total revenues were $17.8 million, consisting of $16.5m in basic vessel charter hire and $1.3 million in additional charter hire that the Company received under its profit sharing arrangements. On the basis of the second quarter results, Arlington's Board of Directors has declared a cash dividend of $0.59 per share


Hornbeck Offshore Announces Second Quarter 2007 Results

Hornbeck Offshore Services, Inc. announced results for the second quarter ended June 30, 2007. Second quarter 2007 revenues were $75.1 million, up 6.2% from $70.7 million for the second quarter of 2006. Operating income was $33.9 million, or 45.1% of revenues, for the second quarter of 2007 compared to $32.7 million, or 46.3% of revenues, for the prior-year quarter. EBITDA for the second quarter of 2007 was $41


Stolt-Nielsen S.A. Reports 4Q and 2007 Results

Stolt-Nielsen S.A. reported results for the fourth quarter and full year ended November 30, 2007. The financial statements for the full year ended November 30, 2007 have been audited. Highlights for the fourth quarter and full year ended November 30, 2007, compared with the fourth quarter and full year ended November 30, 2006, included: • Operating revenue for the fourth quarter of $460.8 million, up 14% compared with same quarter last year


Smit Internationale NV Exceeds Record

Smit Internationale NV released the following financial updates: •    Operating result for Harbour Towage increases, partly because of the extended interest in URS. •    Commencement of new contracts leads to growth Terminals. •    Result Salvage exceeds historical average. •    Considerable increase result Transport. •    Strongly improved result Heavy Lift in second half of the year.


New Costa Cruise Ship: First Block Placed Down

Costa Cruise Ship First Building Block Hoisted: Photo credit Fincantieri

Construction work begins in Fincantieri's Margher Shipyard on the cruise ship 'Costa Diadema'. Weighing in at 132,500 gross tonnage and with accommodation for a total of 4,947 guests, this will be the biggest Italian-flagged cruise ship afloat.  She is the 10th Costa ship built by Fincantieri in Italy since 2000, with a total investment worth almost 5 billion euros. The building and fitting-out, which are due for completion at the end of October 2014, will employ around 3


Excel Maritime Announces 1Q Results Release Date

Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced that on Tuesday, May 22, 2007, after the close of the market in New York it will release its results for the first quarter ended March 31, 2007. The next day, Wednesday, May 23, 2007 at 10:00 a.m. EDT, the company’s management will host a conference call to discuss the results.


ACL Lowers Earnings Guidance, Approves a $200m Stock Buyback Program

American Commercial Lines Inc. (ACL) announced that it is lowering its earnings guidance for the year ending December 31, 2007 to $1.45 to $1.65 in earnings per share for 2007 versus the current street consensus of $1.84. The Company’s previous guidance for 2007 was $1.75 to $1.95. The lowered guidance is driven primarily by the further weakness in the spot grain markets over first quarter levels and lower than planned productivity levels in the manufacturing segment during the second


Teekay Announces 2Q Results

Teekay Corporation (TK) plans to release its financial results for the second quarter of 2007 after market close on Wednesday, August 1, 2007. The Company plans to host a conference call on Thursday, August 2 to discuss the results for the quarter. All shareholders and interested parties are invited to listen to the live conference call through the Company’s web site.


Excel Maritime Announces 2Q Results

Excel Maritime Carriers Ltd an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that on Monday, August 13, 2007, after the close of the market in New York it will release its results for the second quarter ended June 30, 2007. On August 14, the company’s management will host a conference call to discuss the results.


The Container Fleet: Think Inside The Box?

Graph: Clarksons Research

 The increase in containerisation of cargoes and the expansion of the global containership fleet have had a significant impact on global trade and economic development, says a research report from Clarksons Research.   However, this would not have been possible were it not for the


Overcapacity Catches Box Ship Industry in Undertow

Carrier industry financial results. Graph: AlixPartners

 All signs point to a continuation of struggling theme for containerized-ocean-freight industry  into 2016 and beyond, warns a study by AlixPartners.   The containerized-ocean-freight industry suffered in 2015. Its continuing financial woes accelerated because nearly all key


Port of Long Beach Starts Strong in 2016

Photo: Port of Long Beach

Cargo shipments at the Port of Long Beach were up 6.1 percent for the first three months of 2016 compared to the same period last year, starting the year off strongly. Lifted by big gains in January and February, the quarter was the port’s best since 2007.  


iShip Index Records 7% Increase

Graph: iShip Index by Irish Maritime Development Office

 Ireland’s maritime industry grew strongly in 2015, says the Irish Maritime Transport Economist (IMTE), an annual publication issued by the Irish Maritime Development Office (IMDO).   The iShip Index, which measures the total volume of traffic moving through our national ports


Sembcorp Marine Issues Q4 Profit Warning

Photo: Sembcorp Marine Ltd

 Sembcorp Marine, one of the world's largest offshore drilling rig producers,  expects to record a net loss for the fourth quarter ending December, due to the challenging operating environment and customers deferring or seeking to defer their rig orders.  


Hempel Appoints Boyer-Søgaard as CFO

Hempel appoints Anders Boyer-Søgaard as CFO and member of the Executive Board

  Hempel A/S announces that Anders Boyer-Søgaard, CFO and member of Executive Management of GN Store Nord A/S, will succeed CFO Kim Junge Andersen who will join Rockwool as CFO as per January 1, 2016. In 2007, Anders Boyer-Søgaard joined GN Store Nord where he is the CFO


“Safe Container – Steering Changes” – SOLAS Amendment

“Safe Container – Steering Changes” – SOLAS Amendment Photo Marpro

  With the SOLAS Convention now requiring container weight verification from 1st July 2016 onwards following the amendment approved by the International Maritime Organization (IMO) last November, the Company of Master Mariners of India (CMMI) jointly with the Indian Maritime Administration


VLCC Earnings Set for Strong Growth

photo courtesy MSI

  MSI’s proprietary tanker market model predicts firm earnings scenario in first half of next year before weight of fleet growth starts to suppress rates London, December 15, 2015. The latest Tanker Freight Forecaster from Maritime Strategies International predicts further upside


Veiseth appointed CFO of EMG

Courtesy EMGS

  Electromagnetic Geoservices ASA (EMGS) has appointed Hege A. Veiseth (38) as acting CFO of the company effective from 1 January 2016, following the resignation of Svein Knudsen.   Hege has worked for EMGS since 2007 and is currently the Group Finance Manager of the company


NORDEN Sells Capesize Vessel

Photo: Dennis Schnell, Bulldog and Partners

NORDEN announced it has agreed to sell Nord Power, a 176,000 tdw Capesize dry cargo vessel built in 2005. The ship will be delivered to its new owners at the beginning of 2016   NORDEN said the sale will entail an accounting loss of $12 million


LNG STS Transfer Planned off Scotland

File Image: an Excelerate STS transfer operation underway (Photo: Excelerate)

Liquefied natural gas (LNG) tanker Arctic Princess is expected to transfer a cargo to the Excelerate off Scotland's coast this week, a spokesman at Orkney Islands Council said. The transfer between the two vessels while at anchor in the stretch of water known as the Scapa Flow had been planned


Fredriksen forms ship broker with Arctic Securities

Norwegian-born billionaire John Fredriksen has teamed up with investment bank Arctic Securities to form a ship broking company aimed at taking on bigger rivals and betting on a recovery in the global shipping market. Many segments of the shipping industry, including dry bulk commodities


Williams wins World Match Racing Title

Williams and GAC Pindar claim record sixth World Match Racing Tour title after Monsoon Cup victory Photo GAC

Williams and GAC Pindar claim record sixth World Match Racing Tour title after Monsoon Cup victory Johor, Malaysia – GAC Pindar skipper Ian Williams has today entered the record books as the first to win sailing’s World Match Racing Tour title six times


Italian Shipbuilding: Cruising on the Crest of a Wave

 Monfalcone Shipyard. (Photo Courtesy FINCANTIERI)

Traditionally, Italy’s location and coastal development have continued to ensure the country a flow of income from its role as a strategic European hub in what has come to be known as the new “maritime century.” The country boasts of having the largest ferry fleet


2015 a Record Year for the Port of Barcelona

The Port of Barcelona ended 2015 with positive results in its key traffic indicators, with record figures in foreign trade and certain strategic cargo segments such as vehicles and motorways of the sea.   Containers are a key traffic and a good barometer of the economic environment






 
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