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2009 Results

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 $15.9m and earnings per diluted share of $2.22 for the nine months ended September 30, 2008. The diluted shares for the nine months ended September 30, 2009 and September 30, 2008 are 6.5 million and 7.2 million, respectively. The company's financial reports are available at www.pinksheets.com. Conrad's backlog was $56.1m at September 30, 2009, $40.4m at June 30, 2009, $56.3m at December 31, 2008 and $74.8m at September 30, 2008. (www.conradindustries.com)


ASL Marine Gowing Strong

Photo courtesy Cummins Marine

If there is a slowing in the marine industries no one told the people at ASL Marine in Singapore. Among other projects the shipyard is building a series of Roto Tugs, a series of large PSVs and a 196.8-ft dive support vessel.   In November ASL was nearing completion of another in their series of diesel-electric emergency vessels for the Danish firm Esvagt. These red boats are equipped with five Cummins KTA19D powered 485 kW generators.  


Conrad 1Q 2009 Results

Conrad Industries, Inc. announced its first quarter 2009 results and the signing of contracts and sale of barges with a total value of $24m which brings our current backlog to approximately $44.4m compared to $34.1m at March 31, 2009, $56.3m at December 31, 2008 and $96.4m at March 31, 2008. For the quarter ended March 31, 2009, Conrad achieved net income of $5.7m and earnings per diluted share of $0.88 compared to net income of $4.5m and earnings per diluted share of $0


Safe Bulkers Q2 2009 Results

Safe Bulkers, Inc. (NYSE: SB), an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and six months periods ended June 30, 2009. Summary of Second Quarter 2009 Results: Net revenue for the second quarter of 2009 decreased by 14% to $44.3m from $51.4m during the same period in 2008. The company operated 13 vessels on average during the second quarter of 2009, earning a Time Charter Equivalent (TCE)(1) rate of $37,555


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


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


Dockwise Q2 2009 Results

Dockwise Ltd. announced its second quarter and interim 2009 results.   André Goedée, CEO of Dockwise Ltd., commented:   "Dockwise has had a good second quarter, and in quieter market conditions the business is displaying its strengths. This steady operational performance has allowed us significantly to deleverage the business by nearly USD 100 million in the first half of 2009, and we continue in our efforts to strengthen the balance sheet


Royal Caribbean Q3 Results

Royal Caribbean Cruises Ltd. (NYSE:RCL) announced earnings for the third quarter of 2009 and provided guidance for the fourth quarter and full year. Key Highlights •    Third quarter 2009 net income was $230.4 million, or $1.07 per share, compared to net income of $411.9 million, or $1.92 per share in 2008. •    The results were better than the company's most recent guidance of $0.95 to $1


ABS Milestone For Fleet Size & Total Gross Tonnage

Class society ABS achieved another record performance in fleet size during 2010, reported Chairman Robert D. Somerville at the annual meeting. An eight percent increase in gross tonnage from year-end 2009 resulted in the ABS-fleet reaching a new record of 173m gross tons (gt) representing 11,191 vessels.     Somerville pointed out that ABS is in a strong position with regards to the world orderbook holding more than 20 percent of the newbuild market


New Standard for Vessel Underwater Noise

ISO 17208-1:2016, a new international standard for the measurement of underwater noise from ships, has been published by ISO. The full title of this standard is “Underwater acoustics – Quantities and procedures for description and measurement of underwater sound from ships – Part


Korean Register to Deliver Statutory Services in India

Classification society Korean Register (KR) has signed an agreement with the Directorate General of Shipping (DGS) to deliver services on behalf of the Indian flag administration, carrying out vessel surveys and issuing certificates according to international conventions.  


Hamburg Süd Reports Growth in a Challenging Year

Photo: Hamburg Süd

 The Hamburg Süd Group reported it has increased its total turnover by 16.8 percent to 6,058 million euros, driven primarily by its takeover and integration of the container operations of the Chilean shipping company Compañía Chilena de Navegación


This Day In Naval History: April 29

ex-USS Connolly (DD 979) is sunk during an exercise (U.S. Navy Photo by Chris Brown)

1814 - American sloop USS Peacock and HMS Epervier engage in battle. Peacock takes two 32-pound shots in her fore-yard with the first exchange, but her return broadside smashes most of Eperviers rigging and guns. After 45 minutes, Epervier is captured


Drewry: Breakbulk Market Weak Until 2017

Graphics Source: Drewry Maritime Research

 Global shipping consultancy Drewry Maritime Research said the breakbulk shipping market is expected to remain weak until 2017, citing low freight rates and high competition.     Although demand growth is expected to recover next year after a very poor 2015


U.S. Freight Volume Dips: Kemp

File image: Barge fleeting operations on the U.S. inland river system (WCI)

Freight volumes in the United States have fallen year on year for the first time since 2012 and before that the recession of 2009, according to the Bureau of Transportation Statistics. The total volume of freight moved by road, rail, pipeline


Containership Charter Market: Back To The Bottom

Graphics: Clarksons Research

 The dust has now settled on the brief rally and subsequent dramatic downturn of the containership charter market in 2015, says  Clarksons Research.   After a good few years in the doldrums, last year saw some fairly animated movements in boxship charter rates


Owner Fined for 'Dangerously Unsafe' Vessel

The owner of a harbor tanker has been fined £3,000 with more than £7,000 costs after pleading guilty to a charge of operating a vessel for being dangerously unsafe.   Joseph O’Connor was fined at the hearing in Southampton Magistrates Court February 12 following his guilty


The Container Fleet: Think Inside The Box?

Graph: Clarksons Research

 The increase in containerisation of cargoes and the expansion of the global containership fleet have had a significant impact on global trade and economic development, says a research report from Clarksons Research.   However, this would not have been possible were it not for the


Shipyard Takeover in Northern Germany

Photo: Nordic Yards

The tradition of shipbuilding in Mecklenburg-Western Pomerania to be continued – with new focus on cruise ships   An investor has been found in Malaysia’s Genting Group to enable the continued existence of the three shipyards in Wismar, Rostock and Stralsund


Asia-Europe Box Rates Plunge 10 pct

File Image (Credit UASC)

Shipping spot freight rates for transporting containers from ports in Asia to Northern Europe fell 10.1 percent to $231 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.


Asia-Europe Box Rates Rates Fall 9 pct

File image: a UASC containership underway (credit: UASC)

Shipping spot freight rates for transporting containers from ports in Asia to Northern Europe fell 8.7 percent to $211 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.


BOEM Announces Final Rule for Oil and Gas Leasing

The Bureau of Ocean Energy Management’s (BOEM) Final Rule for Leasing of Oil and Gas or Sulfur in the Outer Continental Shelf (OCS) will be published in the Federal Register on March 30, 2016.   The final rule updates and streamlines the existing OCS leasing regulations


Strong Cruise Season Marks Canada Place’s 30th Anniversary

Star Princess at Canada Place (Photo: Port Metro Vancouver)

Port Metro Vancouver’s 2016 cruise season officially kicks off today with the arrival of the Star Princess at Canada Place. Vancouver expects to welcome approximately 830,000 passengers on 228 calls, reflecting a forecasted 3 percent increase in passenger volume over 2015.  


Greece Seals Sale of Piraeus Port to COSCO

Photo: Piraeus Port Authority

Greece is to sell its biggest port Piraeus Port Authority to shipping group China COSCO Shipping Corporation, marking the second major privatisation for the country since late last year. The port sale had been halted by the leftist government of Alexis Tsipras when it won elections in January






 
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