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)
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 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, 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, 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 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
• 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
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 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
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
Singapore-based offshore marine group Otto Marine, which is in the midst of a takeover offer by its chairman, has taken a second legal action against payment default, reports Strait Times. Otto Marine said it has commenced arbitration proceedings against Vettal Mega Services
Container industry revenues are contracting faster than carriers can cut costs. First-half results so far suggest sales are down by around 18%, increasing the pressure to reduce costs. The container shipping industry is currently enduring a severe revenue contraction that is placing carriers
Following markedly slow growth of just 3.5% in 2015 due to decreased rental demand, the global leased container equipment operating fleet is forecast to increase by little more than 1% in 2016, according to the latest edition of the Container Leasing Industry Annual Report 2016
A safety study recently released by the National Transportation Safety Board (NTSB) details 14 conclusions and 21 recommendations aimed at further reducing the risk of collisions, allisions and groundings involving vessels operating within U.S. Coast Guard Vessel Traffic Service (VTS) areas.
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.
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
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
Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 170 percent to $732 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. Spot freight rates on the world's busiest routes soared as a
Prices for new dry freight containers declined to their lowest point since 2002 during first-quarter 2016 and are still going down, according to the latest edition of the Container Equipment Insight, published by global shipping consultancy Drewry.
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
German state-backed lender NordLB now expects to report a loss in 2016 after non-performing loans in shipping, where it is one of the world's top lenders, helped push it into the red in the first quarter. The results at NordLB, which previously said it expected an earnings decline this year but
1850 - USS Advance and USS Rescue sail from New York in a failed attempt to rescue Sir John Franklins Expedition, lost in the Arctic since 1847. Caught in the ice and after tremendous hardship, USS Advance returns on Aug. 20, 1851. Rescue returns Sept. 7.
TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year. Knud Pontoppidan, Chairman of TT Club, said, “After very good years in 2013 and 2014
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
The global glut in oil is refusing to ease and acts as a major dampener on crude prices despite robust demand growth and steep declines in non-OPEC production, the International Energy Agency said on Wednesday. The IEA, which coordinates the energy policies of industrial nations