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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.


Innovative Winch System Patented

Photo courtesy of JonRie Marine Winches

The U.S. Patent Office has  issued Patent s/n 9,056,655 to inventors Brandon Durar (JonRie Marine Winches) and Gregory Castleman (Castleman Maritime) for A Staple Torque Aligning Winch System for Escort Tugs. Naval architect Greg Castleman approached Durar in the winter of 2007 with the


Oben Naki Heads to Canada

Oben Naki

Emphasising the close working relationship which exists between naval architects Robert Allan Ltd and Turkish shipbuilders Sanmar Ltd, Sanmar's Oben Naki has relocated to Vancouver BC to join the Canadian designers as contracts manager (Turkey).


Container Ship and LPG Tanker Collide near Surabaya

Navigator Aries. Photo by Navigator Gas

 LPG tanker Navigator Aries (23,333 dwt, built 2008), and containership Leo Perdana (33,423 dwt, built 2007) collided yesterday in waters off Gresik, nearby the Port of Tunjung Perak in Surabaya, Indonesia.   The collision caused a fire on the 2008-built tanker


Pioneer Marine Names V.Ships as Technical Managers

Pioneer CEO Pankaj Khanna (right) with Capt Sachit Sahoonja - MD V Ships Ship-management India left (Photo: V.Group)

V.Ships, the ship management arm of global maritime services provider V.Group, has recently completed the transfer of the rapidly growing Pioneer fleet of geared dry bulk carriers into its management portfolio.   Pioneer Marine Inc, a fleet owner of some one million deadweight of tonnage


US Ports Boost Economic Impacts

Photo: Port of Los Angeles

Since last nationwide analysis in 2007, U.S. seaport contributions to economy up dramatically    Lancaster, Pa.-based Martin Associates, a provider of economic and strategic assessments of the world’s transportation systems


FMC Chairman Addresses PEMA Ports Program

Mario Cordero (Photo: FMC)

U.S. Federal Maritime Commission (FMC) Chairman Mario Cordero addressed the Professional Environmental Management Association (PEMA) at its Annual Ports Program held in Seal Beach, California. The Chairman spoke on the subject of congestion at U.S


Transocean Appoints Jeremy D. Thigpen President & CEO

Image: Transocean Ltd

 The CFO of Houston-based National Oilwell Varco Inc. (NOV) is stepping down to become CEO of Transocean Ltd. (RIG), one of NOV’s largest customers.   Effective April 22, Jeremy Thigpen will become CEO of Switzerland-based Transocean, which has its main U.S. office in Houston


Big Data Helps Shippers Cut Fuel Bills, Emissions

Photo: Maersk

By focusing on operational improvements, shipping companies are reducing fuel consumption, saving money and cutting greenhouse emissions, while continuing to increase the amount of freight transported.   Maersk Line, the world's largest container carrier


Gulf of Finland Collision Related Spill Risk to Quadruple in the Future

Image provided by American Chemical Society

 A single oil spill can release 30,000 tonnes of oil into the ocean if two vessels collide. In grounding the high weight can lead to oil disaster, in the Baltic Sea up to 120,000 tonnes. This estimate does not include the new giant tankers


LPG Coaster Shipping Market to Remain Weak in 2015

Freight Rates (Source: Drewrys LPG Forecaster)

The LPG coaster shipping market continues to be plagued by excess vessel supply with rates remaining stubbornly below pre-financial crisis levels, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.


Marsh to Take Over as Lloyd’s Register CEO

Alastair Marsh (Photo: LR)

Alastair Marsh, current CFO at the Lloyd’s Register Group Ltd. (LR), has been appointed as the successor to CEO Richard Sadler who has decided to step down at the end of 2015.   Sadler will pass the CEO role to Marsh on October 1


Evensen Rejoins Teekay Tankers Board

Teekay Tankers Ltd. announced that Peter Evensen, Teekay Corporation’s president and chief executive officer, has rejoined Teekay Tankers’ board of directors.   Evensen previously served as a director of Teekay Tankers from October 2007 to June 2013.


Port of Virginia: TEU Volume Surpasses 230,000 in May

Image: Virginia Port Authority

 Just two months after hitting an all-time high for monthly container volume in March, the Virginia Port Authority did it again.   In May, the port moved 230,511 containers as measured in standard 20-foot units, or TEUs, a 13 percent increase from the same month a year ago.  


Jerry Kalogiratos New CEO for Capital Product Partners

Photo: Capital Product Partners L.P

 Gerasimos (Jerry) Kalogiratos, the Partnership's current Chief Operating Officer and a director of the Partnership, will be appointed as the CEO and CFO effective June 30.   Capital Product Partners has announced that Petros Christodoulou, who held the role of CEO and CFO


Capital Product Partners Tankers get Contracts

Image: Capital Product Partners

 Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM. It also has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended.  






 
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