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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


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


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


Viking Acquires Nadiro from Maersk Group

(Photo: VIKING)

Marine and fire safety equipment and servicing provider VIKING Life-Saving Equipment A/S announced the acquisition of Nadiro A/S, a company owned by maritime and energy conglomerate Maersk Group and SH Group.   Established in 2009, Svendborg


Oil Below $40/bbl After Rise in US Oil Rigs

U.S. crude oil prices on Friday dove below $40 a barrel for the first time since the 2009 financial crisis, notching their longest weekly losing streak in 29 years after a further rise in U.S. drilling and a drop in Chinese manufacturing.  


Oil Rebounds but Still Near 6.5-year Lows

Oil rose more than 3 percent on Tuesday as oversold conditions brought some buyers back to the market, but a lingering supply glut and worries about the slowing economy in top commodities consumer China kept crude prices near 6-1/2-year lows.  


Shipping Lines Cut CO2 Emissions

Graphics: 2014 – 2015 Highlights: CCWG’s data-collection process for 2014 show

 The container carriers have managed to reduce their combined CO2 emissions by around one third since 2009, according to a new report.   Average CO2 emissions per container per kilometer for global ocean transportation routes have declined by 8


Lukoil Helps Extend Life of Ship’s Pistons

The HS Debussy (3,500 TEU) was built in China at Shanghai Shipyard Co. Ltd. and was launched there in 2009. (Photo courtesy: Hansa Shipping)

After running on minimum feed rate for years, Hansa Shipping’s containership HS Debussy is expected to exceed 50,000 running hours without piston overhaul at present operation conditions.    With the help of Lukoil Marine Lubricants’ Navigo 70 MCL cylinder oil


DSM Dyneema to Appeal Patent Case Ruling

DSM will appeal against a ruling by a judge in the Court of Milan that one of its Patents is not valid, the company announced in a press release today.   According to DSM, the court case dates back to 2009 and was brought by DSM against EOS


China's State Audit Uncovers Misdeeds in Cosco

Photo: Cosco

 Intensifying crackdown on corruption China’s National Audit Office released an audit report for state-run shipping conglomerate Cosco Group in which it has uncovered substantial financial irregularities.   The report found that Cosco had falsely left out a sum of RMB298m ($48m)


Damen, AMELS sell YSV with Heli Hanger

Amels Yacht Support  6911

  The sale of a new 69-metre Yacht Support vessel marks the next level of development for the successful Yacht Support range built by DAMEN in cooperation with Dutch luxury yacht builder AMELS. The new SEA AXE 6911 is the first in the Yacht Support range to feature the ultimate technical


Preventing Loss of Propulsion After Fuel Switch to Low Sulfur Distillate Fuel

Capt. Jeff Cowan

The International Convention for the Prevention of Pollution from Ships (MARPOL) ANNEX VI Regulation 14 requires ships with Marine Compression-Ignition Engines at or Above 30 Liters per Cylinder use fuel with sulfur content less than 0.1%, after 01 January 2015 within the Baltic Sea area –


Sri Lanka to Establish Terminal for Cruise Ships

Colombo Port. Image by Sri Lanka Ports Authority

 A fully-fledged cruise terminal is to be set up at Colombo port given the increasing number of calls by cruise vessels, according to Lakdas Panagoda, chairman of the Sri Lanka Ports Authority (SLPA).   The SLPA plans to convert the Bandaranaike Quay (BQ) of Colombo port into a


General Dynamics to Modernize USN Submarine WCS

U.S. Navy  SSN  Virgina Class Submarine

  General Dynamics received a $20 million contract modification from the U.S. Navy to continue modernizing the AN/BYG-1 Weapons Control System (WCS) Technology Insertion and Advanced Processing Build software for U. S. Navy and Royal Australian Navy submarines


Fire-stricken Icebreaker Overhauled

The icebreaker vessel Almirante Irizar docked for repair (Photo: SENER)

SENER concludes the Almirante Irizar icebreaker engineering works for re-outfit and overhaul   SENER reports it has completed the engineering works relating to the re-outfit and overhaul of the Almirante Irizar icebreaker following a fire accident in an Antarctic season.  


Australian PM Promises 2500 Shipbuilding Jobs

Tony Abbott, Prime Minister of Australia. Photo: Commonwealth of Australia

 Up to 2,500 shipbuilding jobs in Adelaide will be safe for "all time", the Prime Minister says, ahead of the expected announcement to build a new fleet of Navy ships worth $39 billion, reports ABC.   However, he said naval shipbuilding jobs in Adelaide would drop from about


Maersk Line 1H 2015 Profit Up 22%

Maersk Headquarters

  Maersk Line reported a first half-year 2015 (H1) result that is USD 220 million higher than H1 2014. This was achieved due to lower costs. Revenue in H1 was USD 12,517 million, which is 6.8% lower than H1 2014 (USD 13,365 million). Volumes were 1.1% higher


Viking Acquires Hook Retrofit leader

Henrik Uhd Christensen, CEO, VIKING Life-Saving Equipment

  Leading marine and fire safety equipment and servicing provider VIKING Life-Saving Equipment A/S has today announced the acquisition of Nadiro A/S, a company owned by maritime and energy conglomerate Maersk Group and SH Group. Established in 2009, Svendborg






 
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