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
Concordia Releases 2013 Q1 Report
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
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.
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
London Club Strengthens Financial Position
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
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
Conrad Industries Q3 2009 Results
Conrad Industries, Inc. (Pink Sheets: CNRD) announced its third quarter and nine months 2009 results. For the quarter ended September 30, 2009, Conrad had net income of $2.8m and earnings per diluted share of $0.43 compared to net income of $4.5m and earnings per diluted share of $0.64 during the third quarter of 2008. The company had net income of $10.1m and earnings per diluted share of $1.56 for the nine months ended September 30, 2009 compared to net income of $15
TT Club Reports Positive Trading Performance
Specialist liability insurer for the international transport and logistics industry TT Club said it had another good performance for the year ended December 31, 2012, with further increased gross written premiums, and the club now maintains its A- (Excellent) rating for the past eight years.
Megan Bel Joins National Ocean Industries Association Staff
Megan Bel joined the staff of the National Ocean Industries Association (NOIA) as Senior Director, Government and Political Affairs. She comes to NOIA from the Office of Congressman Steve Scalise (R-LA) where she served as Legislative Director since 2008
Hamburg Süd 2012: Better, but Not yet Good Enough
Hamburg Süd’s performance in brief Following the powerful recovery of the world economy in 2010 and a weaker 2011, global growth continued in the past financial year, albeit at a slower pace. Against this backdrop, container shipments increased once again
EPA Offers Up to $9 Million for Emission Reduction Grants
The U.S. Environmental Protection Agency (EPA) announced the availability of up to $9 million through the National Clean Diesel Funding Assistance Program (DERA) for Fiscal Year 2013 for new projects to reduce emissions from the nation's existing fleet of diesel engines.
Submarine 'Minnesota' Completes First Round of Sea Trials
'Minnesota' (SSN 783) being built at HII's Newport News Shipbuilding (NNS) division, successfully completes 'Alpha' sea trials. All systems, components and compartments were tested during the trials. The submarine submerged for the first time and operated at high speeds on the surface and
U.S. DOJ: Pollution Settlement Nets $1 Million
$1 Million Settlement Enhances Land and Sea in the Eastern District of Texas. BEAUMONT, Texas — U.S. Attorney John M. Bales announced a settlement reached with a European shipping corporation has resulted in significant enhancements to nature conservation groups in the Eastern
Greek Opportunists on Iron-ore Carrier Buying Spree
Greek shipowners order construction of iron-ore carriers in the belief that the 5-year charter-rate slump is coming to an end. The companies ordered 12 Capesizes last quarter, the most since the beginning of 2008, according to data from Golden Destiny SA, a shipbroker in Piraeus, Greece
Financial Aspects of Piracy Explained
Release of 'MV Leopard' crew hostages by Somali pirates, prompts Denmark researchers 'RiskIntelligence' to give general ransom & pirate 'investment' insights. Economic terminology such as “market” is used in the below to describe the criminal activities of hijacking and ransom.
EPA Report Highlights Benefits of Emissions Reduction Program
More than 50,000 older diesel powered engines were upgraded or replaced between 2008 to 2010 because of Diesel Emission Reduction Act (DERA) funding which resulted in major clean air benefits and fuel savings, according a new report issued today - the “Second Report to Congress: Highlights
Middle East Owner Clocks Up MAN Engine's 500th Sale
MAN Diesel & Turbo makes the 500th sale of its 48/60 medium-speed engine to Huta Marine of Jeddah, Saudi Arabia who ordered a pair for its new dredger. The milestone was reached with the order of two common-rail variants of the engine by Huta Marine of Jeddah
Salvage Response under OPA 90: Non-Tankers are Next
Maritime casualties have always been tackled by a relatively small, egotistical, passionate and intrepid group of mariners called “salvors.” Salvage as history knows it, however, may be taking a sharp turn as a result of the new game rules being injected by the Oil Pollution Act
U.K. Shipping Sector More Confident, Survey Finds
The survey indicates freight-rate improvements and greater likelihood of new investment in the next 12 months. Overall confidence levels in the international shipping industry recovered to their highest level for two years in the three months ending February 2013, while U.K
Profitability Rests in Carriers’ Hands
As expected the industry just about scraped over the break-even line in 2012, albeit only because of the results of a handful of leading lights. There is every chance that lines will make decent money in 2013, but only if they refrain from old habits and stick to pricing and capacity discipline
Bulk Ship Owner Follows Trend, Reports 2012 Profit Plunge
Greece-based shipowners Excel Maritime reports results for the second half and year-ended December 31, 2012, re-n For the year ended December 31, 2012, Excel reported voyage revenues of $242.0 million compared to voyage revenues of $353.4 million for the year ended December 31, 2011.
Lukoil Marine Lubricants increases turnover to $200 million
Specializing in lubricants for the maritime industry, Lukoil Marine Lubricants Ltd. increased its sales revenue in the past financial year 2012 by 74% to around $200 million. This result was announced by Lukoil Marine Lubricants’ CEO Victor Zhuravskiy in Hamburg.