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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


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

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


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


Gothenburg Port volumes Rise

Good year for new cars Photo Port of Gothenburg

Freight volumes at the Port of Gothenburg rose by almost three million tonnes in 2016 - up from 38.2 million tonnes in 2015 to 40.9 million tonnes last year. Car exports-imports and energy products enjoyed a particularly successful year with rises of 15 and 12 per cent respectively


Prosafe Taps Andresen as CEO

Photo: © Prosafe

Semi-submersible accommodation vessels owner and operator Prosafe has made several changes to its management team.   Jesper Kragh Andresen was appointed as Chief Executive Officer (CEO), and Stig H. Christiansen as Deputy CEO and Chief Financial Officer (CFO) of Prosafe Management AS


Odfjell Returns to Profit

Photo: Odfjell SE

Odfjell SE today reported preliminary full year and Q4 2016 results, showing improvement in financial performance in 2016 in spite of challenging markets. Efficiency programs continue to increase competitiveness, and the balance sheet is substantially strengthened.


Dry Bulk Back from the Brink

Photo: Dennis Schnell, Bulldog and Partners

While the tanker industry worries about OPEC reducing output and the container industry rushes to consolidate, dry bulk values have been quietly increasing. VesselsValue senior analyst William Bennett digs through the data to uncover the reasons why.  


J Lines’ Merger is All About Scale and Survival

Photo: Kawasaki Kisen Kaisha, Ltd

 The announcement that three Japanese shipping groups will merge their liner shipping businesses is further evidence of survival M&A sweeping the industry according to global shipping consultancy Drewry.   This morning Kawasaki Kisen Kaisha Ltd


Tech File: BoomVane - A Powerful Boom Deployment System

Photo: Elastec

The BoomVane is one of the most useful and interesting tools available to oil spill responders for shoreline and single vessel boom deployment. Maintaining an effective oil containment boom configuration with two vessels is difficult to coordinate. The Elastec BoomVane solves that problem


Recent Vessel Sales: October 2016

Vessel sales for October2016 (as of November 1) as prepared by Shipping Intelligence, Inc., New York. Date Reported - Vessel Name - DWT - Year Built - (Age) - Price in Millions USD   Bulk Carriers 10/16 - ORIENTAL PHOENIX - 14,181 - 1999 - (17) - $2.35


Mouvex Celebrates 110 Years

Mouvex, part of PSG, a Dover company and manufacturer of positive displacement pumps, is celebrating its 110-year anniversary in 2016.    Headquartered in Auxerre, France, Mouvex was founded in 1906 by engineer André Petit when he identified the challenges that gear and lobe


Bumpy Ride for Car Carriers

Graph: Clarksons Research

 The car carrier sector has been yet another part of the shipping industry to have faced challenging conditions this year, says Clarksons Research.   The focus has largely been on demand side difficulties, with growth in global seaborne car trade appearing to have gone into reverse gear


Shipping Markets Face Cold Winds

Graph: Clarksons Research

 The shipping markets have in the main been pretty icy since the onset of the global economic downturn back in 2008, but 2016 has seen a particular blast of cold air rattle through the shipping industry, with few sectors escaping the frosty grasp of the downturn


Bremen Express Loses Containers at Sea

Photo: Hapag-Lloyd AG

 During a repair stop on the Atlantic, the “Bremen Express” (8,750 TEU) experienced rolling for reasons yet to be determined. As a result, some containers fell overboard.   The ship, which operates in the CEC service and was located roughly 1


Former ST Marine President Pleads Guilty to Corruption

Chang Cheow Teck, the former President of ST Marine, has pled guilty to ‎one charge under section 157(1) of the Companies Act. Chang was sentenced to a Short Detention Order of 14 days.    Change served as ST marine president from March 2008 to April 2010


Euronav Secures Loan for VLCC Refinancing

Photo courtesy Euronav NV

Tanker shipping company Euronav NV announced it has signed a new $410 million senior secured amortizing revolving credit facility. The facility has been made available on December 16, 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital


Euronav Gets Credit Line of $ 410mln

Photo: Euronav NV

 Euronav NV announces has signed a new USD 410 million senior secured amortizing revolving credit facility.    The facility has been made available on 16 December 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital


Seaspan Marine Names Hilder Marine Operations VP

Paul Hilder (Photo: Seaspan Marine)

Seaspan announced the appointment of Paul Hilder to Vice President, Marine Operations.   As a member of Seaspan’s senior leadership team, Hilder will oversee the operational efficiency and safety of the company’s vessels and marine crews






 
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