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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


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


Vanishing Volatility Signals Oil Market Shift

Source: Reuters / J. Kemp

The oil market has rarely been so quiet. Benchmark Brent has traded in a narrow range of $5 either side of $110 per barrel since the summer of 2012. Price volatility has fallen to some of the lowest levels since crude futures markets were established in the early 1980s.  


SCIGRIP Sponsors World Cup Solar Challenge Boat Team

Image: SCIGRIP

SCIGRIP, a global supplier of smart adhesive solutions, announced it is sponsoring the Polish Green Solar Team in the DONG World Cup Solar Power Challenge 2014, taking place in Holland this summer. Participants must complete the 150-mile staged course from June 28-July 5 in highly customized


Petrobras HQ Raided by Brazil Police

Petrobras headquarters (Photograph: Bloomberg/ Getty)

Brazil's Federal Police raided the headquarters of state-run oil company Petroleo Brasileiro SA in Rio de Janeiro as part of a money-laundering probe, two sources with direct knowledge of the operation told Reuters on Friday. The police said they were exercising 23 search and arrest warrants in


ISC Expects Faltering Q1 2014 Financial Results

ISC Jones Act vessel: Photo courtesy of ISC

International Shipholding Corporation (ISC) provides preliminary guidance for first quarter 2014 results and announces timing of earnings release and conference call. The company says that it expects to report a first quarter net loss, before Preferred Dividends, in the range of $3


The Scottish Loan Fund Invests £3.5 Million in Coretrax

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Maven Capital Partners (Maven) announced a £3.5 million Scottish Loan Fund (SLF) investment in energy services business Coretrax Technology Limited (Coretrax). Set up in 2011 by the Scottish Investment Bank, the investment arm of Scottish Enterprise, and managed by Maven


Drydocks World Receives Tatweej Award

Drydocks World, a provider of maritime and offshore services to the shipping, oil, gas and energy sectors, received Tatweej Academy’s Award for Excellence at the 7th Tatweej Arab Business Leaders and Leading Organizations, for being one of the pioneering institutions in the Arab World on


Oceanteam Buys Out KCI Design Engineers

File photo CCL

Norway-based Oceanteam Shipping says it has exercised its option to buy the remaining 30% shares of KCI design engineers, a multi-discipline engineering company, employing over 150 engineers with offices in Schiedam, The Netherlands and Hamburg, Germany.


Jensen to Design LNG Bunker Barges

Image: Jensen Marine

Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations.


Petrobras Cuts Spending, Quarter Profits Fall 19%

Photo: Petrobras

By Jeb Blount, Reuters Brazil's state-run oil company Petrobras moved to check years of missed targets, soaring costs and rising debt by scaling back near-term investments and setting a limit on long-term growth. Petroleo Brasileiro SA, as Petrobras is formally known


RS Promotes QMS Certification Services

Russian Maritime Register of Shipping (RS) said it has certified the Caspian Sea Oil Fleet quality management system for compliance with the requirements of ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007 standards, as well as the Azerbaijan State Marine Academy for compliance with ISO


Neptune Adds Staff in Asia

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Neptune announced that Graham Storey has joined its team representing Asian and South East Asian clients. Graham has shipping industry experience in Singapore and will be working closely with Neptune’s representatives in Japan and Asia.


Kvichak Pilot Boat Delivered to CRBP

Photo: Kvichak Marine

Kvichak Marine Industries recently delivered Astoria, a self-righting 74’ all-aluminum pilot boat, to the Columbia River Bar Pilots (CRBP) of Astoria, Oregon. Astoria is the third CRBP pilot boat designed by Camarc, Ltd., of the UK and built by Kvichak


Shipping Confidence at Highest Level Since 2008

Richard Greiner

Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens


Comparison Offers Clues on Container Ship Operation Profitability

Container ship bows: File photo CCL

The container industry is a notoriously difficult sector to make any money in, but a few major lines have managed to avoid the red ink while others have toiled. Drewry Maritime Equity Research compares the performances of Asian companies OOIL and NOL for clues behind the varying results and the


Investors Snap Up Shipping Loans, Reflecting Growing Confidence

Calculator credit Dominic Alves CCL

Global private equity firm KKR has bought $150 million worth of shipping loans from two European banks amid a surge of interest in the industry as world trade in goods picks up along with the global economy. There have been a flurry of deals in recent months for ship finance loans


 
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