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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.


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


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


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


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


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

iangooch09_web.jpg

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


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


India Proposes New MCA for Port Sector

Nitin Gadkari, Union Minister of Road Transport & Highways and Shipping. Photo: Official FB Page

 India's Shipping Ministry on Thursday proposed a new model concession agreement (MCA) to attract more private sector investments in the development of port infrastructure.     The proposed MCA will replace the existing agreement which came into existence in January 2008


WR Sells Emsys Intellectual Property

Emsys-iS installed to monitor scrubber compliance in a cruise ship funnel space (Photo: EMSYS)

Emsys Maritime Ltd., a UK-based maritime technology company, has announced the acquisition of the intellectual property rights for the Emsys emissions monitoring technology from W R Systems, Ltd. (WR) (Norfolk, VA USA) for an undisclosed amount


Hanjin Shipping to File for Court Receivership

Photo: Hanjin Shipping

South Korea’s biggest container shipping line Hanjin Shipping Co has decided to apply for court receivership after lenders halted all support, says a report in Bloomberg.   A Reuters report also says that it would file for court receivership after losing the support of its banks


What is Happening to Suezmax Rates in 2016?

Graphs: Poten & Partners

 Several years ago, the main market for Suezmax tankers was the West Africa to North America trade. When this market dried up in the period from 2012 to 2014/15, it looked like the Suezmax fleet was in for hard times. Tanker Research & Consulting department at Poten & Partners takes a


Lady Loren: Big Hours, Little Wear

A recent image of the Lady Loren at work (Photo: LA Carriers)

Russell Plaisance, president of Louisiana Carriers, built the pusher-tug Lady Loren at Dickie Adam’s Lockport Fabrication in 2008. At the launch, he explained that the boat was the result of five years of planning and a lifetime of experience in the maritime world of the Gulf of Mexico.


This Day In Naval History: August 9

USS Sterett (DDG 104) (U.S. Navy photo by Kevin S. OBrien)

1842 - The Webster-Ashburton Treaty is signed. In the treaty, the United States and Great Britain agree to cooperate in suppressing the slave trade.   1867 - One officer and 46 Marines and Seamen from the steamer, USS Wachusett, land at Shanghai, China, to assist in fighting a fire.


Great Lakes Ports Support Ballast Reforms

Directors of major commercial ports in the Great Lakes region called on Congress to end years of regulatory chaos surrounding ballast water management.    In a joint letter issued late yesterday, 14 port directors urged the Senate Armed Services Committee to include ballast regulatory


Big Win for Maersk Fluid Technology’s BOB System

Maersk Pearl – one of the vessels to be equipped with B1000 Blending-On-Board system from Maersk Fluid  Technology Photo Maersk

In the second half of 2015, Maersk Fluid Technology introduced a new version of its cylinder oil ‘Blending-On-Board’ (BOB) system, targeting medium-sized 2-stroke propulsion engines with a cylinder bore between 420 and 680 mm.


Slowing Shipping Fleet Growth to Ease Officer Shortage

Graph: Drewry Shipping Consultants Limited

 Slowing growth in the size of the shipping fleet will reduce the shortage of officers over the coming years, according to the latest Manning report published by global shipping consultancy Drewry.   The global shipping fleet – encompassing all sectors except the non-cargo


US Oil Drillers Add Rigs for Third Week in a Row

U.S. drillers this week added oil rigs for a third week in a row for the first time since August, according to a closely followed report on Friday, as producers seek more drilling permits after crude prices hit an 11-month high over $51 a barrel last week.  


US Agents Move against Illegal Timber Imports from Amazon

U.S. agents searched the offices of a California-based wood importer this week as part of a broadening government crackdown on imports of illegally harvested timber, according to a previously unreported federal search warrant seen by Reuters.  


'Big Data' Helps NYK Line Axe CO2 Emissions

Photo: Nippon Yusen Kaisha (NYK Line)

 In fiscal 2015, Nippon Yusen Kaisha (NYK Line) achieved a 14.3 percent reduction in CO2 emissions, exceeding the goal established in 2011 in the company’s "More Than Shipping 2013" medium-term management plan calling for a 10 percent reduction by fiscal 2015 in the CO2


Fitch Upgrades Palm Beach Port's Bond Outlook to Positive

The Port of Palm Beach District is proud to announce that Fitch Ratings has revised the Rating Outlook on approximately $9.72 million of outstanding Port of Palm Beach District port revenue bonds, series 2005, from Stable to Positive.


The Impact of Hull Form on Efficiency

Graph: CE Delft

 There is a growing interest in the fuel efficiency of ships because of fuel prices, climate change and energy security issues. This has resulted in, amongst other things, a regulation governing the design efficiency of new ships called the Energy Efficiency Design Index (or EEDI for short).


London P&I Club Reports Increased Free Reserves

The London P&I Club’s result for the 2015/2016 financial year produced an overall operating surplus of $3.3 million, lifting the free reserve to $160.7 million.  This result was underpinned by a technical underwriting surplus of $15.3 million, with the combined ratio standing at 82






 
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