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2008 Results

Attica Completes Sale of RoRo

Attica Holdings has concluded the sale and delivery of its ice-class RoRo vessel Marin to Compagnie Maritime Marfret. The delivery of Marin to her new owners took place yesterday in Patras, Greece. The total sale proceeds of Marin of Euro 8.52mln generate for Attica Group additional cash of approximately Euro 5.90mln and capital gains of approximately Euro 2.33mln, which will appear in the Group’s first quarter 2008 results.


Wilson, Sons 4Q & 2008 Results

Wilson Sons Limited announced its consolidated results for the Fourth Quarter (4Q08) and Full Year 2008 (FY08). The company, through its subsidiaries, is one of Brazil's largest providers of integrated port and maritime logistics and supply chain solutions. With a business track record of over 170 years, the company has developed an extensive national network and provides a comprehensive set of services related to domestic and international trade, as well as to the oil and gas industry


Internal Waterway Shipping 2008 Results

Now at 12.2 million tons, the volume of goods carried between the Port of Hamburg and the hinterland by inland waterway vessel in 2008 exceeded all previous levels. This marked a 1.5 percent increase on the operating results of the previous year. In Germany as a whole, the shipment of goods by inland waterway vessel in 2008 dropped by 1.6 percent. The most important goods categories were mineral oil products, gases, coal and agricultural and forestry products


Euronav 1Q 2009 Results & New Financing

The executive committee of Euronav NV (Euronext Brussels: EURN) reported its financial results for the three months ended 31st March 2009. The most important key figures are (in thousands of USD):                    first quarter 2009    first quarter 2008 Turnover    128,505    218,004 EBITDA     73,208    154,156


SMIT Achieves Net Profit of $38m in Q1 2009

SMIT net profit in the first quarter of 2009 amounts to $38m. The result includes a net contribution of $13.5m from the financial settlement of the Thunderhorse project. Without this exceptional income item, net profit from normal operating activities showed a limited decrease compared to the first quarter of last year. This is mainly due to a lower profit at the Harbour Towage Division and a reduced supply of work at the Salvage Division.  


Concordia Releases 2013 Q1 Report

Concordia Maritimes President, Hans Norén. (Photo: Concordia Maritime)

Concordia Maritime released its Interm Report 1, January 1 to March 31, 2013. Operating result of SEK 15.7 million Improved income for vessels on the spot market Strongest product tanker market since 2008 Total income, MSEK 127.9 EBITDA, MSEK 51.2 Operating result before impairment, MSEK 15.7 Impairment, MSEK 0.0 Operating result after impairment, MSEK 15.7 Result after tax, MSEK 7.6 Result per share, SEK 0.16 EBITDA, MUSD 8.0 Available liquid funds, MSEK 427.0


Kirby Corp 1Q 2009 Results

•    2009 first quarter earnings per share were $.52 compared with $.68 earned in the 2008 first quarter •    Results included a $.05 per share charge for early retirements and staff reductions •    2009 second quarter earnings per share guidance is $.52 to $.62 versus $.74 earned in the 2008 second quarter •    2009 year earnings per share guidance revised to $2.40 to $2.55 versus $2


London Club Strengthens Financial Position

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The London P&I Club reported that, while investment performance was adversely affected in the year to February 20, 2009, its financial position has been considerably strengthened as a result of action taken by its committee in setting additional calls in October 2008. The club’s annual report will be published in July. But a summary of results for the 2008/9 financial year reports a 13.4 per cent fall in the value of the club’s investments, equating to $39m


Safe Bulkers Q3 Results

Safe Bulkers, Inc. (NYSE: SB), an international provider of marine drybulk transportation services, announced its unaudited financial results for the three- and nine-month periods ended September 30, 2009. Summary of Third Quarter 2009 Results Net revenue for the third quarter of 2009 decreased by 31% to $36.9 million from $53.4 million during the same period in 2008. The company operated 13.2 vessels on average during the third quarter of 2009


Euroseas Q4 & Year End Report

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the fourth quarter of 2009 and year ended December 31, 2009. Fourth Quarter 2009 Highlights: - Net loss of $16.3 million or $0.53 loss per share basic and diluted on total net revenues of $16.5 million. The results include a $9.0 million loss from the sale of two vessels


Polarcus 4th Quarter Revenue Down 24% v. 2013

Polarcus Limited announced another disappointing quarter today, reporting $93.3 million in fourth quarter revenues, down 24% from the same quarter in 2013. Polarcus, the operator of a global fleet of seismic research vessels, released their fourth quarter and preliminary full year 2014 financial


DOI Issues FSEIS for Chukchi Sea Lease Sale

The U.S. Department of the Interior (DOI) released a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193, moving the DOI a step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska


Indian Shipping Policy Waiting for Final Nod

Image: The shipping ministry of India

 The shipping ministry of India had circulated a draft policy note seeking comments from various ministries ahead of its submission to the cabinet. But the finance ministry headed by Arun Jaitley is yet to offer its comments on the note, says a report in the Livemint  


Hornbeck Completes $114M Sale of OSVs to U.S. Navy

    The HOS Arrowhead in 2010 (Photo courtesy of Military Sealift Command)

  Hornbeck Offshore Services has closed the sale of three 250EDF class OSVs to the U.S. Navy, the company announced today.   The three vessels were sold for cash consideration of $114 million, the company reported. This is expected to result in a gain on sale of assets of


Teekay Tankers to Acquire 5 Tankers

Kevin Mackay, Chief Executive Officer of Teekay Tankers

   Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million. The five vessels, which are expected to be delivered in the first quarter of 2015, were constructed in 2008


Rebalancing Trade Flows

Fig 1

 McQuilling Services Industry Note on 'Rebalancing Trade Flows: The New World Order' : Many types of crude oil are produced around the world. Depending on the requirements of a particular refinery, a blend of heavy and light crudes is processed to manufacture a variety of petroleum products


Oil's Worst Year Since 2008

Oil prices fell on Wednesday as concerns about demand for fuel kept worries about a global supply glut intact.   Both Brent and U.S. crude significantly pared losses just before government data showed U.S. crude oil inventories fell 1


OP/ED: Knowing the Rules of the Road

Michael Borgstrom, President of Chicago-based Wendella Sightseeing Boats.

Mitigating Risk of Dangerous Interactions with Recreational Rental Vessels   I am increasingly concerned about the interaction between commercial vessels and recreational craft on the Chicago River.  Even more frequently my operation is encountering people in short-term rental craft


Petrobras Expects 3Q Unaudited Results Jan 27

Brazil's Petroleo Brasileiro SA expects to release unaudited third-quarter financial results on Jan. 27 after a scheduled meeting of its board of directors, the state-run oil company said Wednesday in a statement.   Petrobras, as the company is known


Oil Majors to Preserve Dividends Despite Oil Collapse

Oil well

  Europe's oil majors will strike a sober note in their fourth-quarter results and investors will focus on companies' plans to maintain cherished dividends and their strategies to cope with the oil prices collapse that caught many unawares.


U.S., India to Seal Nuclear Deal

Deal nearly finalized

  The United States and India have reached a breakthrough on two issues holding up civil nuclear cooperation between them, U.S. President Barack Obama told a news conference in New Delhi on Sunday. The two countries signed a landmark civilian nuclear deal in 2008 but trade was stymied by


Hellman & Friedman Sells Out of GTT

Gaztransport & Technigaz S.A. (GTT) announces that H&F Luxembourg 1 S.à.r.l., an affiliate of Hellman & Friedman, has completed the sale of its remaining holding in the share capital of GTT in a private placement to institutional investors.   


BICERA Explosion Relief Valve

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Sometimes it seems cliché to repeat that a product or system “protects equipment and saves lives,” but in the case of valve manufacturer Penn-Troy, which recently unveiled a new crankcase explosion relief valve that boasts lower exhaust temperatures


Sjo Resigns from Polarcus Board of Directors

Polarcus Limited announced that Hege Sjo will resign from its board of directors effective February 2, 2015.   Sjo has accepted an appointment as Deputy Director General in the Norwegian Ministry of Trade, Industry and Fisheries, and is therefore unable to continue as a board member at


d’Amico Group Launches its Largest Ship

Photo: d’Amico Group

Italian shipowner d’Amico Group today celebrated the delivery and naming of its new handy-cape type vessel, Cielo d’Italia, a ship that it labeled as “the largest and most innovative ship in the history of the group.”  






 
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